Home Analysis British pound is trading marginally lower on Tuesday

British pound is trading marginally lower on Tuesday

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British pound is trading marginally lower on Tuesday - forexspacex.com

The British pound is trading marginally lower on Tuesday after posting a successive rally in the past two trading sessions. The GBP/USD pair gained a little over 3% as the risk-sensitive assets rose in a broad-based rally. According to financial analysts, the bond yields have peaked for the short term and consequently, investors have turned towards risk-sensitive assets like stocks and other currencies. The GBP/USD was poised for a decent recovery after the investors showed good faith in the new Prime Minister. Analyzing the hourly chart, the price action suggests further weakness for the day. However, 1.1400 should act as a strong support.

Important Pivots

NameS3S2S1Pivot PointsR1R2R3
Classic1.14211.14411.14541.14741.14881.15071.1521
Fibonacci1.14411.14541.14611.14741.14871.14941.1507
Camarilla1.14601.14631.14661.14741.14721.14751.1478
Woodie’s1.14191.14401.14521.14731.14861.15061.1519
DeMark’s1.14481.14711.1482

Ref link


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