📊TECHNICAL ANALYSIS ON 1-HOUR TIMEFRAME
The GBPUSD pair didn’t show any strong move since morning, to remain stable below the EMA50 that presses negatively on the price, waiting to break 1.2110 to reinforce the chances of rallying towards our expected negative target at 1.2037. Therefore, the bearish trend scenario will remain valid and active for today, reminding you that it is important to hold below 1.2155 to continue the expected decline. The expected trading range for today is between 1.2040 support and 1.2200 resistance.
📊QUICK FUNDAMENTAL LOOK
Dollar rose in European trade on Friday against a basket of major rivals, maintaining gains for the fourth straight session and almost touching a three-week high on strong US GDP growth data. The data bolstered the case for another interest rate hike before the year end, with markets assessing such chances ahead of US personal spending data later today.
⚠️Warning: Trading contains elements of risk, please be careful when Making Orders, Market Recommendations are only for consideration.