British pound took the biggest bite out of the US dollar on hawkish commentary that the central bank is looking to increase the benchmark interest rate later this year.
Tech View:
GBP is expected to be on downtrend for the day. With the trading range of 1.9640-1.9800. currency lends its support at 1.9620 levels and holds resistance at 1.9820 levels. RSI and stochastic is trending downwards thereby supporting the currency to be on a bear note for the day. Sterling is expected to give a downside correction for the bull run. Momentum remains silent on the issue
GBP is expected to be on downtrend for the day. With the trading range of 1.9640-1.9800. currency lends its support at 1.9620 levels and holds resistance at 1.9820 levels. RSI and stochastic is trending downwards thereby supporting the currency to be on a bear note for the day. Sterling is expected to give a downside correction for the bull run. Momentum remains silent on the issue
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