Hello wonderful people! Let's dive into GBPUSD insights today.
In today's North American trading session, the British Pound is making a modest comeback against the US Dollar, thanks to speculation that the Federal Reserve may cut interest rates in June. At this time, GBP /USD is trading at 1.2657, marking a 0.16% gain on the day.
Essentially, GBP/USD is forming a 'bullish harami' pattern, hinting at potential trends ahead. To confirm a trend reversal, it needs to clear the 1.2679 mark, announcing targets at 1.2700, followed by the 1.2803 peak. Conversely, a slide below the 1.2591 support could negate this pattern, potentially extending losses.
What are your views on future steps?
In today's North American trading session, the British Pound is making a modest comeback against the US Dollar, thanks to speculation that the Federal Reserve may cut interest rates in June. At this time, GBP /USD is trading at 1.2657, marking a 0.16% gain on the day.
Essentially, GBP/USD is forming a 'bullish harami' pattern, hinting at potential trends ahead. To confirm a trend reversal, it needs to clear the 1.2679 mark, announcing targets at 1.2700, followed by the 1.2803 peak. Conversely, a slide below the 1.2591 support could negate this pattern, potentially extending losses.
What are your views on future steps?
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