GBP/USD struggles near 1.2200
Updated
Greetings everyone. Today, the GBP/USD pair is engaged in a battle around the 1.2200 mark, facing defensive pressure at the beginning of the week due to risk-averse sentiment. The US dollar has taken advantage of escalating geopolitical tensions in the Middle East and has placed a bullish bet on the Federal Reserve. Additionally, the pair is weighed down by higher oil prices.
Investors are closely monitoring important events scheduled for this week, such as the release of the meeting minutes from the Federal Open Market Committee (FOMC) and US consumer inflation data. These upcoming releases will offer valuable insights into the Fed's future policy decisions and have an impact on the trajectory of the USD, consequently affecting the GBP/USD pair.
Investors are closely monitoring important events scheduled for this week, such as the release of the meeting minutes from the Federal Open Market Committee (FOMC) and US consumer inflation data. These upcoming releases will offer valuable insights into the Fed's future policy decisions and have an impact on the trajectory of the USD, consequently affecting the GBP/USD pair.
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The resistance level has been reachedOrder cancelled
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