Home GBP/USD GBP/USD is directionless amid the heightened volatility

GBP/USD is directionless amid the heightened volatility

261
0
GBPUSD is directionless amid the heightened volatility

The heightened volatility in the financial market amid the possible full-scale invasion of Ukraine has boosted the demand for dollars as a safe haven asset. As a result of this bears are trying to pull the price below the major support level at the 1.36000 mark on the daily chart. The dollar index which is the benchmark for the value of the U.S. dollar against the major currencies is trading near 96.15 which indicates the bearish sentiment for GBP/USD. The 14-Period Relative strength index indicator suggests a range-bound market. Therefore, the short-term technical outlook for GBP/USD is neutral to bearish on the daily chart.

Next articleEUR/USD may test the 1.1000 mark amid the Ukraine crisis

LEAVE A REPLY

Please enter your comment!
Please enter your name here