GBP/USD: Price Hold The Support Resilience
Fundamental Analysis:
The GBP/USD currency pair responded by adhering to a strong support dynamic trend post-NFP news, influenced by the USD. Despite the Bank of England's (BOE) hawkish approach to inflation control through a 25 basis point interest rate hike, potential Overhiking might dent investor confidence due to UK contraction signs, driving consideration of alternative assets like gold (XAU).
Technical Analysis:
technically, price rejection at a robust support trend suggests potential for upward movement if it remains above the trend, in line with projected targets.
Targets: 1.28300, 1.29300
GBPUSD
"Stay disciplined and patient"
"Keep analysis simple and concise"
"Have a risk management strategy"
"Trade with a clear mind"
The GBP/USD currency pair responded by adhering to a strong support dynamic trend post-NFP news, influenced by the USD. Despite the Bank of England's (BOE) hawkish approach to inflation control through a 25 basis point interest rate hike, potential Overhiking might dent investor confidence due to UK contraction signs, driving consideration of alternative assets like gold (XAU).
Technical Analysis:
technically, price rejection at a robust support trend suggests potential for upward movement if it remains above the trend, in line with projected targets.
Targets: 1.28300, 1.29300
GBPUSD
"Stay disciplined and patient"
"Keep analysis simple and concise"
"Have a risk management strategy"
"Trade with a clear mind"
