GBP/USD, H4 29 March 2024
The GBP/USD pair remains under its downward trend resistance level, indicating a continued bearish trajectory. The UK GDP figures, released yesterday and aligning with market expectations, were insufficient to bolster Sterling's strength. Conversely, the US dollar received a significant boost from the country's positive economic data, applying additional downward pressure on the pair.
The GBP/USD trade remains on a bearish trajectory and is maintained below the downtrend resistance level.
Resistance level: 1.2710, 1.2770📉
Support level: 1.2530, 1.2440📈
The GBP/USD pair remains under its downward trend resistance level, indicating a continued bearish trajectory. The UK GDP figures, released yesterday and aligning with market expectations, were insufficient to bolster Sterling's strength. Conversely, the US dollar received a significant boost from the country's positive economic data, applying additional downward pressure on the pair.
The GBP/USD trade remains on a bearish trajectory and is maintained below the downtrend resistance level.
Resistance level: 1.2710, 1.2770📉
Support level: 1.2530, 1.2440📈