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Having dropped below 1.2400 after the UK inflation data was released earlier in the day, GBP/USD staged a modest recovery and seems to have steadied above 1.2400. Rising US Treasury bond yields support the US dollar, not allowing the pair to gain traction.
GBP/USD is trading below the key 1.2400 level, where the Fibonacci 23.6% retracement of the downtrend that started on April 21 and the 100-period SMA on H4 are located. In case this level is confirmed as resistance, the pair could suffer additional losses toward 1.2340 (20-period SMA) and 1.2300 (psychological level, static level, 50-period SMA).
On the upside, bulls could show interest if GBP/USD manages to stabilize above 1.2400. In this scenario, the pair needs to clear 1.2450 (static level) in order to test 1.2500 once again.
*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।
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