GBPUSD is at a disadvantage and has not recovered strongly
Let's explore the GBPUSD market with Selena, shall we?
Last Friday, GU experienced a slight recovery after a prolonged decline over the past few months, closing at 1.220. However, this currency pair still faces difficulties under the weight of a significant downtrend.
Furthermore, inflation remains a hot topic for the Bank of England (BoE), and the UK may have no choice but to continue dealing with high interest rates. With prices exceeding BoE's target, cutting interest rates remains a distant dream for market investors. This is seen as a disadvantage for GBPUSD, causing it to continue its downward trajectory into deeper lows.
Last Friday, GU experienced a slight recovery after a prolonged decline over the past few months, closing at 1.220. However, this currency pair still faces difficulties under the weight of a significant downtrend.
Furthermore, inflation remains a hot topic for the Bank of England (BoE), and the UK may have no choice but to continue dealing with high interest rates. With prices exceeding BoE's target, cutting interest rates remains a distant dream for market investors. This is seen as a disadvantage for GBPUSD, causing it to continue its downward trajectory into deeper lows.
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What do you think about the market in the future? Cmt let Selena know!
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good luck everyone !
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New week begins, trading ready for action. The first signs this week are still bearish, speculation may arise
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Look shorter on the 1h frame
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