RLinda ! GBPUSD-> Rollback Price. What's next?

18 окт. 2022 г.

GBPUSD weakened on Tuesday, but looks fairly confident, there are a number of reasons for that.

• Investors began to wonder about the future prospects of UK interest rates after the announcement of a new decision by Britain's finance minister to cancel most of the government's "mini-budget".
  
• Sentiment was also bolstered by the news that the new British finance minister has reversed almost all of the tax cuts
  
• The Bank of England intends to postpone quantitative tightening until the bond market calms down.
  

From the point of view of the technical analysis we might see the formation of price growth gradually raising the local minimum, which might indicate a local uptrend.

At the moment the pullback to the support zone is forming, which will allow waiting for the price to enter the zone for finding a more comfortable entry point near the support of the price channel.
The short-term target in this situation is the zone of 1.14900, the medium-term target is the liquidity zone of 1.17342

Sincerely R. Linda!