The GBP/USD pair has attempted a recovery move from the psychological support of 1.2000 in the early Asian session. The Cable witnessed a sell-off on Wednesday after reports citing internal ‘materialistic weaknesses’ in Credit Suisse spooked market sentiment. The release of the financial budget by United Kingdom Finance Minister (FM) Jeremy Hunt failed to provide a cushion to the Pound Sterling.
The US Dollar Index (DXY) has corrected after challenging the critical resistance of 105.00 as the release of weak United States Retail Sales and lower Producer Price Index (PPI) figures confirmed that the US inflation is meaningfully declining. This eased hawkish Federal Reserve (Fed) bets dramatically.
GBPUSD h1 price is returning to the downtrend. Early today it is possible that the pair will correct slightly and then continue to go down. Currently traders can wait to sell around 1.2120, SL: 1.2170, TP: 1.2010
The US Dollar Index (DXY) has corrected after challenging the critical resistance of 105.00 as the release of weak United States Retail Sales and lower Producer Price Index (PPI) figures confirmed that the US inflation is meaningfully declining. This eased hawkish Federal Reserve (Fed) bets dramatically.
GBPUSD h1 price is returning to the downtrend. Early today it is possible that the pair will correct slightly and then continue to go down. Currently traders can wait to sell around 1.2120, SL: 1.2170, TP: 1.2010
