Chart Analysis: Hourly GBPUSD 17.01.2020
17 January

Chart Analysis: Hourly GBPUSD 17.01.2020

GBPUSD

 

Technical Chart of the Day: 1H GBPUSD

Sterling continued to register modest gains against most major currencies ahead of today’s UK retail sales data. A surprise print higher or lower could spark some GBP volatility as traders observe the rising possibility of a BOE rate cut. As markets increasingly expect the Bank of England to cut rates this month, Sterling has been leaning further towards $1.31 and €1.18.

 

Resistance: R1: 1.3120
Support:      S1: 1.3020,   S2: 1.2950

 

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