I expect the cable to drop. It may surpass slightly the support but in the end, it’s going down.
There are no positive reasons as to why the cable would rise.
Fuel at all time high. Goods. Energy.
In the end, the UK will enter a recession by the end of this year.
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The cable is being pumped to the resistance which it may surpass, slightly, but it will drop back down and when it does it will be rapid. Please comment and like it’s much appreciated.
I do not think the cable can hold its position for much longer. I’m expecting a lot of choppiness whilst the cost of living crunch is in focus and inflation is such a focal point.
With an expected “EU Law Bonfire” and the Northern Ireland debacle, I don’t see any positivity anytime soon.
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I believe GBPUSD will go to 26200 and then continue the trend downwards. The DXY is currently strong and will continue to show its strength this week.
