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GBP/USD rose in price amid growing expectations of monetary easing by the Fed after its meeting in May and the high probability of the Bank of England not cutting rates in the near future.
Dollar weakened further as economic data from the US came out weaker than expected. Forecasts for new job growth from both ADP and the US Department of Labor also turned out to be unimpressive.
Technical outlook and trading idea:
The price currently lies at the upper band of the Bollinger Bands, above the SMA 5 and SMA 14. The RSI has surpassed the 50% level and continues to rise, while the Stochastic indicators turned upwards, crossing this level.
A breakout above the resistance level of 1.2715 will strengthen the upward trend, allowing the pair to continue rising toward 1.2785.
*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।
