ANALYSIS
NQ100 Finds Support from PPIApr 14
GBPUSD:50 MA Will Be Decisive in Parity
The day we left behind, we saw that the parity was somewhat suppressed, with some important members of the US Federal Reserve (FED) using hawkish expressions despite high inflation. However, expectations that the FED will moderate its rapid rate tightening if the US enters a technical recession strengthen the pair. There is also support for the gradual disappearance of the uncertainty in the UK Cabinet and the fact that PMI indicators in the UK point to an expansion in the sector in July. Technically, the GBPUSD parity, which will protect its buying potential as long as it remains above the 1.2120 level indicated by the 50 MA, may bring the 1.2280 resistance to the agenda if it can break above the 1.2235 level with permanent closes. If below the possible 50 MA, 1.2065 support could follow.
