GBP/USD Price Analysis: Bulls holding the fort in the 1.2050s ahead of FOMC minutes GBPUSD Technical Analysis
that while easing recession fears, the data has reinforced concerns that the Federal Reserve’s stance will remain hawkish for longer which is capping progress in the Pound vs. the US Dollar. The M-formation's neckline was broken on Tuesday, invalidating a bearish thesis from the start of the week's analysis:
1.2270 was eyed as an upside target for the days ahead of the market and does not just remain in a consolidative structure bounded by 1.1900 and 1.2150.The price is holding in the presumed support area and a 50% mean reversion is on the cards to test into the 1.2030s if the 38.2% does not hold first in the lows for the day so far, 1.2055. Information on these pages contains forward-looking statements that involve risks and uncertainties.
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