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After yesterday's 0.25% rate cut by the Federal Reserve and the hawkish rate outlook from FOMC members, the British pound plummeted by 135 pips. The price broke through the 1.2616 support level, paving the way toward the next support at 1.2510. The Marlin oscillator on the daily chart has firmly settled in negative territory, confirming the downward trend.
Today, the Bank of England is expected to keep the current rate at 4.75%, but markets anticipate a resumption of rate cuts starting in February, potentially lowering it to 3.25%. This approach would still be softer than the Fed's strategy.
On the H4 chart, the price is slightly rising upwards, which aligns with the Marlin oscillator's reversal from oversold territory. The 1.2616 resistance level acts as a barrier to further growth. Once the correction is complete, the price is expected to resume its movement toward the target support at 1.2510. A break below this level would open the path to 1.2447.
*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।
