Daily Market Analysis 5 May 2022

Daily Market Analysis 5 May 2022

  • Market News
  • Daily Market News
  • 2022, 05 May

GBP/USD

Technical Outlook

GBP/USD rising gradually since tested two-year lows near 1.2400. However the upside remains pressured around 1.2650. We expect a sudden bounce back as the trailing trend.

A stronger USD undermines the demand for Cable


Technical Indicators
Action
RSI (34)
SELL
Oscillator (23)
SELL
MACD (Below Midline)
SELL
200 EMA (1.3290)
SELL


Strategy

Action
Buy
Entry
1.2550
Target 1
1.2580
Target 2
1.2620
Stop Loss
1.2520


Key Signposts

GBP: BoE Rate Decision, MPC vote


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