New York session mein Tuesday ko, GBP/USD pair ne critical level 1.2693 ke neechay support paaya against US Dollar (USD). Ye movement US Dollar mein ek tezi se decline ke baad aayi, jo Bureau of Labor Statistics (BLS) ke revised economic growth estimate 1.3% hone se tha, jo pehle 1.6% tha. Ye deceleration ne US Dollar par neeche ka pressure dala, jiski wajah se US Dollar Index (DXY), jo Greenback ka value chay major currencies ke against track karta hai, aur neeche gir kar 104.20 tak chala gaya.
GBP/USD ke Fundamentals:
Sterling ka performance market speculation ke saath shape ho raha hai jo Bank of England (BoE) ke potential interest rate cuts ke bare mein hai. Financial markets anticipate kar rahe hain ke BoE August meeting se rate reductions shuru karega. Is se pehle saal mein, expectations thi ke rate cuts June se shuru hongay. Lekin, UK Consumer Price Index (CPI) report for April, jisne slower-than-expected deceleration in price pressures dikhaya, ne traders ko June rate-cut bets reconsider karne par majboor kar diya hai. Headline CPI mein notable decline ke bawajood, BoE policymakers abhi bhi service inflation ke persistent high momentum ko lekar concerned hain, jo core inflation ko 2% target par lane ke liye required pace se lagbhag double hai.
Four-hour Time Frame Technical Outlook:
Near-term outlook for GBP/USD pair positive hai kyun ke ye 61.8% Fibonacci retracement support hold karta hai, jo March 8 high 1.2900 se April 22 low 1.2300 tak plot kiya gaya, at 1.2670. Cable se bullish stance maintain karne ki umeed hai, kyun ke sab short-to-long-term Exponential Moving Averages (EMAs) upward slope kar rahe hain, jo strong uptrend indicate karte hain.
Lekin, agar sellers pair ko decisively 1.2700 level ke neeche push karne mein kamiyab ho jate hain, to further losses ho sakti hain. Key support levels test kiye jayenge, jo May 24 low 1.2671 se shuru hote hain, phir significant 1.2600 mark par. In levels ke baad, 50-day moving average (DMA) at 1.2582 additional support offer karega.
GBP/USD ke Fundamentals:
Sterling ka performance market speculation ke saath shape ho raha hai jo Bank of England (BoE) ke potential interest rate cuts ke bare mein hai. Financial markets anticipate kar rahe hain ke BoE August meeting se rate reductions shuru karega. Is se pehle saal mein, expectations thi ke rate cuts June se shuru hongay. Lekin, UK Consumer Price Index (CPI) report for April, jisne slower-than-expected deceleration in price pressures dikhaya, ne traders ko June rate-cut bets reconsider karne par majboor kar diya hai. Headline CPI mein notable decline ke bawajood, BoE policymakers abhi bhi service inflation ke persistent high momentum ko lekar concerned hain, jo core inflation ko 2% target par lane ke liye required pace se lagbhag double hai.
Four-hour Time Frame Technical Outlook:
Near-term outlook for GBP/USD pair positive hai kyun ke ye 61.8% Fibonacci retracement support hold karta hai, jo March 8 high 1.2900 se April 22 low 1.2300 tak plot kiya gaya, at 1.2670. Cable se bullish stance maintain karne ki umeed hai, kyun ke sab short-to-long-term Exponential Moving Averages (EMAs) upward slope kar rahe hain, jo strong uptrend indicate karte hain.
Lekin, agar sellers pair ko decisively 1.2700 level ke neeche push karne mein kamiyab ho jate hain, to further losses ho sakti hain. Key support levels test kiye jayenge, jo May 24 low 1.2671 se shuru hote hain, phir significant 1.2600 mark par. In levels ke baad, 50-day moving average (DMA) at 1.2582 additional support offer karega.
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