💷 GBP/USD Visible indecision
💷 As can be seen, the GBP/USD pair has shown considerable indecision in recent days.
💷 Following today's US Unemployment Rate data, we saw that unemployment rose by 0.3% to 3.8% with the market expecting unemployment to remain at the current level of 3.5%.
💷 This caused the dollar to react sharply towards appreciation.
💷 So far, neither the monetary/fundamental situation in the UK nor the US stands out significantly one from the other, which may result in just such indecisive price movements.
💷 We have found ourselves at a ceiling where the GBP/USD price has been overbought in recent weeks.
💷 We will see if sentiment remains positive keeping the value of the British pound above the 1.256 level.
💷 For now, I maintain a bullish scenario for this pair until the fundamental situation shifts significantly.
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💷 As can be seen, the GBP/USD pair has shown considerable indecision in recent days.
💷 Following today's US Unemployment Rate data, we saw that unemployment rose by 0.3% to 3.8% with the market expecting unemployment to remain at the current level of 3.5%.
💷 This caused the dollar to react sharply towards appreciation.
💷 So far, neither the monetary/fundamental situation in the UK nor the US stands out significantly one from the other, which may result in just such indecisive price movements.
💷 We have found ourselves at a ceiling where the GBP/USD price has been overbought in recent weeks.
💷 We will see if sentiment remains positive keeping the value of the British pound above the 1.256 level.
💷 For now, I maintain a bullish scenario for this pair until the fundamental situation shifts significantly.
🚀 If you appreciate my work and effort put into this post, I encourage you to leave a like and follow on my profile 🚀
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 www.t.me/Investmatez 💲
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