Gbp Usd Technical Analysis Cable Consolidating Above The 2018 Low Gbp usd is attempting to consolidate the recent 8 day sell off which drove cable to new a new 2018 low at 1.2723, last friday. bears objective is to keep extending the bear trend below the current 2018 low in order to reach the 1.2700 figure. Gbp usd loses its bullish momentum and retreats below 1.3250 after touching its highest level since march 2022 above 1.3300 with the immediate reaction to the boe's decision to leave the policy.
Gbp Usd Technical Analysis Cable Consolidating Above The 2018 Low Intraday bias in gbp usd remains neutral as consolidation from 1.3265 is still extending. outlook will stay bullish as long as 1.3043 resistance turned support holds. on the upside, firm break of. Gbp usd. cable broke above psychological 1.30 level on tuesday (last probe above this barrier was on july 17 18). rally from 1.2664 (aug 8 low, where rising daily cloud contained previous. The gbp usd came to within a couple of points of breaking below 1.25 handle, before bouncing off the low. the cable has since bounced back, now trading near the 1.26 area. the dollar has also weakened against a few other major currencies, although it has extended its gains against the likes of the yen and gold, as bond yields have remained near. Gbp usd cable surged through psychological 1.30 barrier and hit its highest in one year on wednesday, after hotter than expected uk june inflation data tempered expectations for first boe rate cut.
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