GBP/USD Price Forecast: Technical Analysis Insights for Majors
Tuesday, 10 September 2024, 07:52
GBP/USD Technical Outlook
As we approach significant economic indicators, the GBP/USD currency pair demonstrates a bearish sentiment. Key technical support is evident at 1.3044, followed closely by the psychological threshold of 1.3000. Any breach of these levels is likely to open the floodgates for extended declines, shaping the trajectory of the majors.
Market Reaction to US CPI
- Trading dynamics are expected to shift considerably after the US CPI announcements.
- Traders should monitor closely for any volatility influences on the GBP/USD trajectory.
- Bearish scenarios may intensify if critical support levels are compromised.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.