📊TECHNICAL ANALYSIS ON 4-HOURS TIMEFRAME
The GBPUSD pair faces negative pressure to move around 1.2160 level, affected by stochastic negativity, waiting to get positive motive that assist to push the price to resume the expected bullish trend for today, which targets 1.2297 as a next station. On the other hand, we should note that breaking 1.2130 will stop the suggested rise and force the price to return to decline again. The expected trading range for today is between 1.2130 support and 1.2290 resistance.
📊QUICK FUNDAMENTAL LOOK
Dollar rose in European trade on Tuesday against a basket of major rivals, resuming gains and approaching a one-week high on haven and alternative demand. Investors now await important US retail sales data later today for September, which could provide clues on the strength of the economy and the likely path ahead for policies.
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