Bullish Momentum Drives GBP/USD Higher Towards Swing Highs

Assessing Energy Price Dynamics and Their Impact on Inflation in the Short and Medium Term

Technical Market Outlook: The GBP/USD pair has rebounced from the lows seen at the level of 1.2690 and is heading higher towards the swing high located at 1.2846.

The 50 MA will provide the dynamic resistance for bulls around the level of 1.2804.

 

The momentum is strong and positive, so the short-term outlook for GBP remains bullish. The intraday technical support is seen at the level of 1.2738 and 1.2690.

 

 

Assessing Energy Price Dynamics and Their Impact on Inflation in the Short and Medium Term

InstaForex Analysis

Instant Trading EU Ltd. is the CFD broker operating under the brand instaforex.eu, regulated by CySec with license number 266/15.

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