Home Analysis British pound gains on lower US CPI data

British pound gains on lower US CPI data

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British pound gains on lower US CPI data - forexspacex.com

The British pound prints the first weekly candle for the November month amid the lower U.S. inflation data. The outcome of aggressive monetary policies from the US Federal Reserve Is finally supporting the market. The GBP/USD rose more than 4%, past 1.1700 and the 1.1800 psychological resistance level. The British pound also found support after the London Metal Exchange went against the western sanction on Russian metal. According to financial analysts, the domestic currency may extend its rebound toward the 1.2000 level in the next week provided the elementary catalyst keeps popping out.

Important Pivots

NameS3S2S1Pivot PointsR1R2R3
Classic1.18121.18221.18331.18431.18541.18641.1875
Fibonacci1.18221.18301.18351.18431.18511.18561.1864
Camarilla1.18381.18401.18421.18431.18461.18481.1850
Woodie’s1.18121.18221.18331.18431.18541.18641.1875
DeMark’s1.18281.18401.1848

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