Hello dear friends!
Today, GBP/USD continues to suffer losses for the second consecutive day, trading at lower levels around 1.230 during Wednesday's trading session. Optimistic economic data from the United States has put pressure on the currency pair, causing it to decrease and trade at 1.219 at the time of writing.
It can be seen that GBPUSD has made efforts to increase in price, but it seems that the upward momentum has not materialized. Instead, the downward trend continues. Currently, the EMA on the 1D timeframe still indicates a negative trend in price decline. The current resistance level is at 1.231, with the target for this price decrease still highly regarded at 1.200.
What are your thoughts on the upcoming movement trend of GU?
Today, GBP/USD continues to suffer losses for the second consecutive day, trading at lower levels around 1.230 during Wednesday's trading session. Optimistic economic data from the United States has put pressure on the currency pair, causing it to decrease and trade at 1.219 at the time of writing.
It can be seen that GBPUSD has made efforts to increase in price, but it seems that the upward momentum has not materialized. Instead, the downward trend continues. Currently, the EMA on the 1D timeframe still indicates a negative trend in price decline. The current resistance level is at 1.231, with the target for this price decrease still highly regarded at 1.200.
What are your thoughts on the upcoming movement trend of GU?
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Later in the day, Housing Starts and Building Permits data for September will be featured in the US economic docket. High interest rates have been weighing heavily on mortgage demand and a significant contraction in Housing Starts could cause the US Dollar to weaken in the second half of the day.
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Today The GBP/USD pair is facing difficulties in achieving any significant upward momentum on Thursday and is trading within a narrow range below the 1.2100 level today.
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