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The GBP/USD is experiencing a significant increase and is currently undergoing trend corrections, indicating a clear short-term decline on the 1-hour chart. At the time of writing, the price is trading at 1.228, down 0.05% for the day.
The short-term technical outlook for this currency pair shows a downward trend. In the absence of significant data, risk awareness may impact the actions of the GBP/USD in the second half of the day.
The US futures stock index has declined by approximately 0.3% today, reflecting the cautious stance of the market. In the event that safe-haven flows dominate after the opening bell on Wall Street, the USD may continue to strengthen, forcing the GBP/USD to retreat.
The GBP/USD is experiencing a significant increase and is currently undergoing trend corrections, indicating a clear short-term decline on the 1-hour chart. At the time of writing, the price is trading at 1.228, down 0.05% for the day.
The short-term technical outlook for this currency pair shows a downward trend. In the absence of significant data, risk awareness may impact the actions of the GBP/USD in the second half of the day.
The US futures stock index has declined by approximately 0.3% today, reflecting the cautious stance of the market. In the event that safe-haven flows dominate after the opening bell on Wall Street, the USD may continue to strengthen, forcing the GBP/USD to retreat.
Trade active
Comment:
British Prime Minister Jeremy Hunt commented that he would recommit to the need for overall tightening of spending later this month in an effort to tamp down price inflation.
Trade closed: target reached
