GBP/USD, H4 7 March 2024
GBP/USD sustains an upward trajectory, driven by the US Dollar's depreciation. Despite the optimism, uncertainties loom ahead of the UK's 2024 budget announcement before the election, with market anticipation for potential tax rate cuts. Detailed plans remain elusive, prompting investors to vigilantly monitor developments for nuanced trading signals.
GBP/USD is trading higher following the prior breakout above the previous resistance level.
Suggesting the pair might experience technical correction.
Resistance level:1.2785, 1.2905📉
Support level: 1.2710, 1.2635📈
GBP/USD sustains an upward trajectory, driven by the US Dollar's depreciation. Despite the optimism, uncertainties loom ahead of the UK's 2024 budget announcement before the election, with market anticipation for potential tax rate cuts. Detailed plans remain elusive, prompting investors to vigilantly monitor developments for nuanced trading signals.
GBP/USD is trading higher following the prior breakout above the previous resistance level.
Suggesting the pair might experience technical correction.
Resistance level:1.2785, 1.2905📉
Support level: 1.2710, 1.2635📈