GBPUSD: Buy or sell?
Dear traders,
Recently, GBPUSD has struggled to sustain its new high at 1.269, experiencing a slight downward correction while still holding relatively stable at elevated levels. The primary driver behind this decline is the renewed demand for the U.S. dollar, fueled by rising U.S. Treasury yields and the House of Representatives’ approval of the Republican Budget Plan, which has negatively impacted the pair.
As a result, GBPUSD is likely to undergo a short-term corrective move against the trend, seeking new support levels before resuming its upward trajectory.
Recently, GBPUSD has struggled to sustain its new high at 1.269, experiencing a slight downward correction while still holding relatively stable at elevated levels. The primary driver behind this decline is the renewed demand for the U.S. dollar, fueled by rising U.S. Treasury yields and the House of Representatives’ approval of the Republican Budget Plan, which has negatively impacted the pair.
As a result, GBPUSD is likely to undergo a short-term corrective move against the trend, seeking new support levels before resuming its upward trajectory.
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