GBPUSD continues to trade in the low price range
Let's explore the market today with Selena!
Today, GBP/USD has dropped from above 1.2400 to reach a new monthly low at 1.2325 after the FOMC meeting. The focus now shifts to the Bank of England's decision, with expectations balanced between pausing and raising interest rates after the UK's CPI index.
On the other hand, 1.2350 is considered the first support level before 1.2300 and 1.2240. In the event that GBP/USD rises above 1.2400 and starts using that level as support, buyers may show interest. In that scenario, 1.2450 and 1.2500 can be seen as the next recovery targets.
Selena wishes you all good luck and success!
Today, GBP/USD has dropped from above 1.2400 to reach a new monthly low at 1.2325 after the FOMC meeting. The focus now shifts to the Bank of England's decision, with expectations balanced between pausing and raising interest rates after the UK's CPI index.
On the other hand, 1.2350 is considered the first support level before 1.2300 and 1.2240. In the event that GBP/USD rises above 1.2400 and starts using that level as support, buyers may show interest. In that scenario, 1.2450 and 1.2500 can be seen as the next recovery targets.
Selena wishes you all good luck and success!
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The USD is still supported by loose monetary policies in many countries.
