GBP/USD Price Analysis: Stalls its decline, the key upside barrier is seen at 1.2200

The GBP/USD pair stalls its decline and holds below the 1.2200 mark during the Asian session on Wednesday. A decline of the US Dollar (USD) and a retr

GBP/USD recovers some lost groundnear 1.2170 on the softer USD. The pair holds below the 50- and 100-hour EMAs; RSI indicator stands in bearish territory. The key resistance level is located at 1.2200; 1.2143 acts as an initial support level. eat in US Treasury bond yields lend some support to the pair. However, the renewed safe-haven flows amid the geopolitical conflicts in the Middle East and the higher-for-longer rate narrative in the US might cap the USD’s downside for the time being.

Further north, the upper boundary of the Bollinger Band at 1.2271 will be the next stop. The additional upside filter to watch is near a high of October 10 at 1.2295. On the downside, a low of October 23 at 1.2143 acts as an initial support level. The next downside stop is seen at a low of October 13 at 1.2122. The critical contention level will emerge at the 1.2095–1.2100 region. The mentioned level is a round mark, the lower limit of the Bollinger Band, and a low of October 20.

Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

FXStreetNews /  🏆 14. in US

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Pound Sterling Price News and Forecast: GBP/USD hovers above 1.2150 major levelGBP/USD lost its traction and erased its daily gains after rising toward 1.2200 in the early European morning. In the absence of high-impact macroecon
Weiterlesen »

Pound Sterling Price News and Forecast: GBP/USD receives positive vibes [Video]GBP/USD lost its bullish momentum and turned flat on the day near 1.2250 after rising toward 1.2300 earlier in the day. The technical outlook suggests
Weiterlesen »

British Pound After UK Jobs Data: GBP/USD, GBP/JPY, GBP/AUD Price ActionGBP’s ongoing downward correction looks set to continue amid signs of cooling labor market conditions and price pressures. What is the outlook for GBP/USD, GBP/JPY, and GBP/AUD and the key levels to watch?
Weiterlesen »

GBP/USD: Gains may be hard to come by for nowGBP/USD trades back to the mid-1.21 area. Economists at Scotiabank analyze the pair’s outlook. Choppy range trading may continue in the short run Cabl
Weiterlesen »

British Pound (GBP/USD) Latest – Volatility on the Horizon?Credit ratings agency Moody’s has changed its outlook for the UK from negative to stable and confirmed the countries’ Aaa3 rating
Weiterlesen »