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GBP/USD gained traction in the early American session on Wednesday and started to push higher toward 1.3500. The modest dollar weakness and the stronger-than-expected inflation report from the UK help the pair gather bullish momentum.
The GBP/USD pair surrendered a major part of the stronger UK CPI-inspired gains and was last seen trading below mid-1.3400s, still up nearly 0.15% for the day.
Bulls, however, struggled to capitalize on the move or find acceptance above the 200-hour SMA amid worries that the UK government could trigger Article 16 of the Northern Ireland Protocol. The intraday uptick ran out of the steam near the 1.3470-75 region, which should now act as a key pivotal point for the GBP/USD pair's near-term trend.
Looking at the broader picture, the emergence of fresh selling at higher levels warrants some caution before positioning for any meaningful appreciating move. A subsequent slide back below the 1.3400 mark will be seen as a fresh trigger for bearish traders and turn the GBP/USD pair vulnerable to challenge YTD lows, around mid-1.3300s touched last Friday.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
