GBP/USD remains plane near the upper limit of the channel
The GBP/USD has been browsing around at the level of 1,2923, struggling to gain more traction after its March career stopped near the upper limit of its upward channel.
The pair reached a maximum of 1,2945 last week, marking its highest level since November 2024. However, the strengthening of overcompra signals suggests that the recent rebound may be losing impulse, since the RSI and the stochastic oscillator seem to have reached its maximum point above 30 and 20, respectively. Read more …
GBP/USD Forecast: Libra could face strong resistance before heading to 1.3000
After registering small losses on Monday, the GBP/USD recovers its traction on Tuesday and quotes comfortably above 1,2900. The short -term technical analysis suggests that the upward trend remains intact, but the torque could have difficulty overcoming strong resistance in 1,2975.
The GBP/USD could not take advantage of the impressive profits of the previous week on Monday, since the safe refuge flows dominated the action in the financial markets. After opening in negative territory, the main indices of Wall Street fell dramatically, pressured by the increase in fears on an economic recession in the US on Sunday, US president, Donald Trump, acknowledged that there will be a “transition period” when asked if his policy changes could potentially cause a recession. Read more …
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
