The GBPUSD went into the weekend around the 1.19390 ratios having experienced a rather strong exhibition of selling on Friday- trading forextrading
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After sustaining a solid bullish run higher for nearly four and half months, the GBP/USD has run into brisk selling momentum since early in February. While growth numbers from the U.S. came in slightly weaker than expected on Thursday, inflation statistics again came in slightly higher than anticipated and this certainly created headwinds for the GBP/USD.The U.S. Federal Reserve is caught in a nasty web of problems.
. Over the mid-term, the rhetoric from the Federal Reserve may remain intent on raising interest rates. The GBP/USD is certain to be affected by this inflation sentiment and questions regarding if the worst of the ‘news’ has been digested in Forex, and the surging USD has been witnessed is causing nervousness.
However, speculative trading is likely to flourish this week as the GBP/USD tests technical ratios. If current short-term support and resistance levels hold, the entire week of trading for the GBP/USD could highlight rather choppy conditions within the lower elements of its price range. A low of roughly 1.19150 was seen on the 17of February and if this monthly low is proven vulnerable, trading will grow additionally nervous.A range between 1.19300 and 1.20100 should be monitored by traders.
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