GBP/USD Price Analysis: Keeps the red around mid-1.2200s, downside remains cushioned GBPUSD Fed BOE Technical Analysis Currencies
maintains its offered tone through the early North American session and is currently placed just below the mid-1.2200s, though lacks follow-through.
retracement level of the January-March downfall was seen as a fresh trigger for bulls. Moreover, oscillators on the daily chart are holding in positive territory and are still far from being in the overbought zone. This suggests that the path of least resistance for the GBP/USD pair is to the upside and supports prospects for the emergence of some dip-buying at lower levels.
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