GBPUSD: An Expected Upward Reaction Towards Its Resistance Level At Around 1.1340
Looking at GBPUSD’s chart, we can see its downward trend and its 52W low at the rate of 1.12105 whereas currently, it is reacting at the level of 1.1255.
Last night, Fed announced an interest rate increase of another 0.75% which boosted the US Dollar and dropped the FX pair of GBPUSD to new lows. As the 0.75% was expected and fully priced in, today we could expect an upward reaction towards its resistance level at around 1.1340.
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