GBP/USD, H4 27 March 2024
The GBP/USD pair maintained its bearish trajectory following a brief technical rebound earlier in the week. This decline was primarily attributed to positive U.S. economic data, particularly the increase in Durable Goods Orders from-6.9% to 1.4% in February. However, the downward movement was somewhat tempered by a hawkish stance from the Bank of England's Mann, who indicated a more optimistic view on the UK's wage growth compared to the U.S. and EU.
GBP/USD continues to trade lower after a technical rebound. Suggesting that the bearish momentum is overwhelming.
Resistance level: 1.2710, 1.2770📉
Support level: 1.2530, 1.2440📈
The GBP/USD pair maintained its bearish trajectory following a brief technical rebound earlier in the week. This decline was primarily attributed to positive U.S. economic data, particularly the increase in Durable Goods Orders from-6.9% to 1.4% in February. However, the downward movement was somewhat tempered by a hawkish stance from the Bank of England's Mann, who indicated a more optimistic view on the UK's wage growth compared to the U.S. and EU.
GBP/USD continues to trade lower after a technical rebound. Suggesting that the bearish momentum is overwhelming.
Resistance level: 1.2710, 1.2770📉
Support level: 1.2530, 1.2440📈