GBPUSD

10:41, 10 June

GBPUSD

GBPUSD

Sterling, which closed the day at 1.4110 with 0.27% depreciation yesterday, followed a horizontal band movement in the Asian session. Despite a possible dollar movement ahead of the critical inflation data, market participants are abstaining. The possibility of a possible rate hike may increase the upward volatility in the Dollar index. In addition, President Biden, who attended the G-7 Conference, warned Prime Minister Boris Johnson that the Northern Ireland issue should be resolved, creating a selling pressure for Sterling.

  • It could be traced above as the resistance level of 1.4170.
  • It can be viewed as the support level of 1.4080, the lowest level of the last 3 weeks.
  • Resistance: 1.4170 – 1.4255 – 1.4365
  • Support: 1.4080 – 1.4005– 1.3970