GBP/USD, H4
GBP/USD staged a rebound from support levels amid a weakening US Dollar, triggered by
disappointing ISM Manufacturing PMI data. Despite recent economic challenges, certain Fed
members maintain a hawkish stance. San Francisco Fed President Mary Daly cautions against hasty rate cuts, emphasising potential risks to economic performance. Concurrently, Cleveland Fed President Loretta Mester dismisses expectations of a prolonged disinflation trend from the previous year, reinforcing confidence in the ongoing positive trajectory of the US economy and indicating a reluctance to implement earlier interest rate cuts.
GBP/USD is trading higher following the prior rebound from the support level. Suggesting the pair might extend its gains since the RSI stays above the midline.
Resistance level:1.2710, 1.2785
Support level: 1.2635, 1.2530
GBP/USD staged a rebound from support levels amid a weakening US Dollar, triggered by
disappointing ISM Manufacturing PMI data. Despite recent economic challenges, certain Fed
members maintain a hawkish stance. San Francisco Fed President Mary Daly cautions against hasty rate cuts, emphasising potential risks to economic performance. Concurrently, Cleveland Fed President Loretta Mester dismisses expectations of a prolonged disinflation trend from the previous year, reinforcing confidence in the ongoing positive trajectory of the US economy and indicating a reluctance to implement earlier interest rate cuts.
GBP/USD is trading higher following the prior rebound from the support level. Suggesting the pair might extend its gains since the RSI stays above the midline.
Resistance level:1.2710, 1.2785
Support level: 1.2635, 1.2530
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.