GBPUSD slightly decreased in price on the first day of the week
Hello, GBPUSD traders!
The GBPUSD pair has formally established a new peak just shy of the 1.2900 mark, and the bias leans towards a modest downward correction as the pair faces pressure from a gradually recovering USD at the start of the week.
Nevertheless, the decline in GBPUSD is expected to be limited, with two support levels acting as potential pivots marked on the chart. The pair may pivot if the upcoming crucial US CPI release on Tuesday continues to challenge the USD, potentially bolstering this major currency pair.
The GBPUSD pair has formally established a new peak just shy of the 1.2900 mark, and the bias leans towards a modest downward correction as the pair faces pressure from a gradually recovering USD at the start of the week.
Nevertheless, the decline in GBPUSD is expected to be limited, with two support levels acting as potential pivots marked on the chart. The pair may pivot if the upcoming crucial US CPI release on Tuesday continues to challenge the USD, potentially bolstering this major currency pair.
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