GBPUSD: struggles to gain ground above the 1.2800 mark
The GBP/USD pair remains beneath the psychological hurdle of 1.2800 during the early trading hours in Asia on Wednesday. Strengthening after the U.S. CPI inflation data for February, the U.S. Dollar has driven this major currency pair lower. Investors are on standby for the UK's January GDP growth figures, anticipated to show a 0.2% month-on-month increase. A favorable outcome for the USD might push prices further down.
In the short term:
The first resistance level is at 1.2800, followed by 1.2850 and 1.2870.
Conversely, the initial support is identified at 1.2750, succeeded by 1.2730-1.2720 and 1.2690.
In the short term:
The first resistance level is at 1.2800, followed by 1.2850 and 1.2870.
Conversely, the initial support is identified at 1.2750, succeeded by 1.2730-1.2720 and 1.2690.
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