Last Updated Date: 31 May 2022 @ 7:21 AM (UTC)
*Please note that all the dates are in GMT time zone
The U.S. dollar rebounded in early European trade Tuesday, helped by aggressive rate hiking comments from Federal Reserve Governor Christopher Waller, but is still heading for its first monthly drop in five months, especially against the resurgent euro.
The GBPUSD status is overbought for the last 3 days. MACD and Stochastics are curving Down. The GBPUSD market shows short term peaking action, driving initial topping selloffs to test 1.2476 retracement support. A close under 1.2476 alerts for a larger top/downturn and projects selloffs to 1.2341.