British Pound Technical Outlook: GBP/USD Bulls Fight to Stabilize at Critical Support
GBP/USD is compressing into a tight near-term range just above key support, with a breakout likely to provide the next directional cue.
Written by
Michael Boutros
Sr. Technical Strategist
British Pound Technical Outlook: GBP/USD Multi-Timeframe Analysis
British pound support at the bottom of its yearly range has held for a fourth straight week as easing Treasury yields give sterling some relief. Michael Boutros, StoneX Media Senior Market Analyst, walks through GBP/USD on the weekly, daily and four-hour charts. Weekly RSI has held above 40 since January of last year, through four weekly tests of support. The monthly opening range on GBP/USD is contracting, with lower highs and higher lows defining both sides of the trade. With U.S. Treasury yields pulling back from multi-decade highs, U.S. CPI and PPI data now have the potential to shift Federal Reserve rate expectations.
This content was created by an affiliate of StoneX Trading and represents the views and opinions of the author/speakers, not the views and opinions of StoneX Group Inc., or its subsidiaries. The content has not been independently reviewed by StoneX Trading.
Key GBP/USD Economic Data Releases
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--- Written by Michael Boutros, Senior Technical Strategist
Follow Michael on X @MBForex
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