📊TECHNICAL ANALYSIS ON 4-HOURS TIMEFRAME
The GBPUSD pair tests the key support base formed above 1.2297 and keeps its consolidation above it until now, to keep the bullish trend active for today, supported by stochastic gain to the positive momentum gradually, waiting to head towards 1.2460 as a next main target, reminding you that is important to hold above 1.2297 to continue the bullish wave. The expected trading range for today is between 1.2260 support and 1.2410 resistance.
📊QUICK FUNDAMENTAL LOOK
Sterling rose in European trade on Thursday on track for the third profit in a row against the US dollar, and almost touching a three-week high scaled yesterday amid expectations Bank of England will raise interest rates once more this year. Dollar is extending its losses after the Fed's meeting minutes reduced the chances of another US interest rate hike this year, with traders now waiting for official inflation data.
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