GBP/USD Forecast February 24-28 – Pound Dips As Wage Growth Falls Below 3.0%

GBP/USD Technical analysis

Technical lines from top to bottom:

1.3300 has held since December. 1.3170 is next.

1.3070 has some breathing room in resistance following GBP/USD losses last week.

1.3000 (mentioned last week) has switched to a resistance role. It is a weak line.

1.2910 which has held in support since early December, finds itself under pressure. This is followed by support at 1.2820.

1.2728 is providing support.

1.2616 is the final support level for now.

I remain neutral on GBP/USD

The pound gained ground last week and crossed above the 1.30 line, but with the British economy not in the best of shape, the currency may have trouble holding its own against the greenback.

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Disclaimer: Foreign exchange (Forex) trading carries a high level of risk and may not be suitable for all investors. The risk grows as the leverage is higher. Investment objectives, risk appetite and ...

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