Forex today, GBPUSD fluctuates around 1.1870 as it tries to hold on to gains despite reversing from three-month highs hit early Wednesday in Europe. The latest sluggishness in the Cable pair could be attributed to mixed feelings surrounding Russia and a cautious mood ahead of key data from the UK and the US. Doubts over Russia’s recent missile strike on Poland’s border with Ukraine challenged market sentiment and GBPUSD forex traders today. Following the missile strike, which killed two people, policymakers from the North Atlantic Treaty Organization (NATO) and the Group of Seven Nations (G7) held an emergency meeting. However, US President Joe Biden recently mentioned that based on the trajectory, it is unlikely that the missile was fired from Russia.
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Data That Influences Forex Prices Today
Technical Analysis
forex today GBPUSD retreated from a downward sloping resistance line from June 15 amid near-overbought RSI. However, bullish MACD signals and sustained trading beyond 100-DMA suggest further upside for the pair.
- Forex today GBPUSD remains on the defensive around three-month highs, sidelined of late.
- Anxiety ahead of key UK data, Autumn budget joins sour sentiment inspired by Poland to challenge traders.
- Bleak US data, hawkish expectations from BOE keep buyers hopeful.
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