GBPUSD is aiming to overstep the 1.2250 hurdle – Crypto News – Crypto News
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Bears tighten grips on the way to 1.1930 Bears tighten grips on the way to 1.1930

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GBPUSD is aiming to overstep the 1.2250 hurdle – Crypto News

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GBP/USD eyes more gains above 1.2250 amid upbeat market mood, UK GDP eyed

The GBP/USD pair is gathering momentum to overcome the immediate hurdle of 1.2250 in the early Tokyo session. The cables is displaying a sideways auction profile after sustaining above the round-kevel resistance of 1.2200. Positive market sentiment has tilted bias for more upside in the Cable ahead. The US Dollar Index (DXY) is expected to remain on the tenterhooks as investors are shifting their focus to the monetary policy meeting by the Federal Reserve (Fed), which is due next week.

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GBP/USD Forecast: Pound Sterling bulls struggle to retain control

GBP/USD has lost its traction and retreated below 1.2200 in the early European morning on Thursday after having registered modest gains on Wednesday. The near-term technical Outlook suggests that the pair is having difficulty turning bullish. In the absence of high-impact data releases, GBP/USD is likely to react to changes in risk mood. Nevertheless, investors are unlikely to commit to large positions ahead of next week’s highly-anticipated Bank of England and Federal Reserve policy meetings.

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