British Pound Technical Outlook: GBP/USD Recovery Vulnerable at Major Resistance
GBP/USD is approaching major resistance early in the month - can the bulls charge the break?
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British Pound Technical Outlook: GBP/USD Multi-Timeframe Analysis
British pound, GBP/USD and U.S. inflation are back in focus as Sterling struggles to extend its recovery. Michael Boutros, Senior Market Analyst at FOREX.com, examines the key technical levels that could determine the next move for GBP/USD, explains why resistance remains intact, and discusses how upcoming U.S. CPI, PPI and retail sales data could shape the outlook for the U.S. dollar and Sterling in the days ahead.
This content was created by an affiliate of FOREX.com and represents the views and opinions of the author/speakers, not the views and opinions of Forex.com, StoneX Group Inc., or its subsidiaries. The content has not been independently reviewed by FOREX.com.
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Active Short-term Technical Charts
- Euro Short-term Outlook: EUR/USD Coils Above Critical Support- Decision Time
- Gold Price Short-term Outlook: XAU/USD Bulls Try to Carve Out a Low After 30% Drop
- Canadian Dollar Short-term Outlook: USD/CAD Coils Below Resistance—Breakout Looms
- Australian Dollar Outlook: AUD/USD Holds Major Support—Reversal Risk Builds
- Swiss Franc Short-term Outlook: USD/CHF Overbought Rally Tests Major Resistance
- Japanese Yen Short-term Outlook: USD/JPY Breakout Stalls at 2024 High as Intervention Risk Builds
- British Pound Short-term Outlook: GBP/USD Rebound Challenges Bear Trend
Written by Michael Boutros, Senior Technical Strategist
Follow Michael on X @MBForex
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