Today's Focus on GBP to USD (GBPUSD) - June 2024


The Bank of England keeps interest rates unchanged: The Bank of England implemented the policy of maintaining the interest rate at 5.25% for the seventh time, with a vote of 7 to 2.

Bank of England Meeting Minutes

• Others emphasized the persistent price pressures, particularly in the domestic services sector.

Market Expectations:

• Traders bet on a rate cut in August, expecting two rate cuts this year.

Technical Analysis Highlights:

• Stochastic Oscillator

• Upper Resistance (Day): 33-day moving average resistance level; breaking through it may end the downtrend.

• Stochastic Oscillator

• Moving Average Resistance (4H): Constrained by three moving averages; failure to break through may lead to devaluation.

Pivot Indicators:

• Pivot Level: 1.2673

• Bullish: Above 1.2673, targeting 1.2714 and 1.2726

• Bearish: Below 1.2673, targeting 1.2654 and 1.2642

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Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

The End


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