📊TECHNICAL ANALYSIS ON 4-HOURS TIMEFRAME
The GBPUSD pair settles below 1.2300 level, to keep the bearish trend scenario valid and active for today, reminding you that our waited targets begin at 1.2240 and extend to 1.2170. Stochastic provides negative signals that we are waiting to assist to push the price to achieve the suggested targets, which will remain valid conditioned by the price stability below 1.2300. The expected trading range for today is between 1.2200 support and 1.2350 resistance.
📊QUICK FUNDAMENTAL LOOK
Sterling declined in European trade on Wednesday against a basket of major rivals, extending losses for the third straight session against the dollar, ahead of Bank of England Governor Andrew Bailey's speech later today. The dollar on the other hand is extending gains following bullish remarks by Fed officials, which bolstered the case for another US interest rate hike in December.
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