The GBPUSD status is overbought and showing a minor correction up. The rallies from yesterday still hint for a short term trend shift to the upside. Look for attempts to extend rallies, but trade will need to post a close over 1.2576 to attack the previous swing high peaking levels ⇒ 1.2772. Only a close under 1.2411 - 1.2401 is bearish and suggests a selling wave to new lows.
Last Updated Date: 29 April 2022 @ 6:31 AM (UTC)
*Please note that all the dates are in GMT time zone
The dollar was down on Friday morning in Asia, but held firm at a 20 year high and is set for its best monthly gain in a decade. Bets on rising U.S. interest rates, alongside doubts about growth in Europe and China, gave the safe-haven U.S. currency a boost.
