GBP/USD remains volatile around 1.26719. The market still expects the Bank of England to raise interest rates twice this year, but investors are also increasingly worried that the British economy will stagnate.
Pound Sterling USD GBPUSD - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the high short-term momentum fluctuates downwards, the short-term decline continues, the market as a whole is in a bearish trend, the MACD indicator is in the bullish zone, and the RSI indicator is hovering near the 50 equilibrium line;
Resistance levels: 1.26975 1.27132
Support levels: 1.26569 1.26408
Trading strategy: Bearish below 1.26819, target 1.26569 1.26408
Alternative strategy: bullish above 1.26819, target 1.26975 1.27132