GBP – The British Pound maintains a range struggle

The trend of GBP against the U.S. dollar, as shown in the technical chart, RSI and stochastic index fell back, or the risk of adjustment in the short term may be seen in the British Pound. The support looks at 1.35 and the 25-day moving average 1.3450 level, and the largest support is expected to be 1.3250 and 1.3130 levels. It is expected that the current resistance will firstly be 1.3650 and 1.3750, and then it will be seen at 1.38 and 1.40.

Forecast range:
Resistance 1.3650 – 1.3750 – 1.3800 – 1.4000*
Support 1.3500 - 1.3450 - 1.3250 - 1.3130

Focus:
Wednesday:
UK May CPI (14:00)

Thursday:
Bank of England interest rate decision (19:00)

Friday:
UK June GfK Consumer Confidence Index (07:01)
UK May Public Sector Net Borrowing (14:00)
UK May Retail Sales (14:00)

Any questions? contact our professional analysis team