GBP/USD bears keep reins under 1.2200 with eyes on BOE’s Bailey, Fed’s Powell
GBP/USD dribbles around the weekly low of 1.2180, after declining the most over a week, as sellers take a breather ahead of the key data/events. However, pessimism surrounding Brexit, economic slowdown and inflation woes keep the downside bias intact. US Core PCE, Final reading of Q1 GDP may entertain traders ahead of key discussions at the ECB Forum.
|Today last price||1.2203|
|Today Daily Change||0.0020|
|Today Daily Change %||0.16|
|Today daily open||1.2183|
|Previous Daily High||1.2292|
|Previous Daily Low||1.2181|
|Previous Weekly High||1.2324|
|Previous Weekly Low||1.2161|
|Previous Monthly High||1.2667|
|Previous Monthly Low||1.2155|
|Daily Fibonacci 38.2%||1.2223|
|Daily Fibonacci 61.8%||1.2249|
|Daily Pivot Point S1||1.2145|
|Daily Pivot Point S2||1.2107|
|Daily Pivot Point S3||1.2034|
|Daily Pivot Point R1||1.2257|
|Daily Pivot Point R2||1.233|
|Daily Pivot Point R3||1.2368|
GBP/USD outlook: Directionless mode extends, awaiting fresh signal
Cable enters the US session on Monday in red after short-lived rally, inspired by renewed risk mode, pushed the price to a ten-day high in early European trading. The price remains within the range which extends into sixth consecutive day, defining near-term price action as directionless, capped by daily Kijun-sen and supported by daily Tenkan-sen, after the action repeatedly failed to register a clear break on either side.
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