GBP/USD Price Analysis: Struggles to find acceptance above 1.2100 amid reviving USD demand GBPUSD RiskAversion Technical Analysis Majors Currencies
The risk-off mood drives some haven flows towards the USD and caps gains for the pair.The GBP/USD pair
The prevalent risk-off environment - as depicted by a generally weaker tone around the equity markets - assists the safe-haven US Dollar to recover a major part of its intraday losses. This, in turn, is seen as a key factor acting as a headwind for the GBP/USD pair. That said, the prospects for an imminent pause in the Fed's rate-hiking cycle hold back the USD bulls from placing aggressive bets and remain supportive of the bid tone surrounding the major.
With oscillators on the daily chart holding in the negative territory, the GBP/USD pair might then turn vulnerable to accelerate the fall towards the 1.1900 round figure. The downward trajectory could get extended further towards testing the YTD low, around the 1.1840 region touched on January 6, en route to the 100-day SMA, currently near the 1.1815-1.1810 area.
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