ANALYSIS
NQ100 Finds Support from PPIApr 14
GBPUSD May End the Week Negatively
We have been watching the pound recover recently as political uncertainties eased in the UK. However, today, we see that the recovery has come to an end with the strong decline of the GDP growth data to 2.9 percent on an annual basis in the second quarter. On the other hand, some members of the US Federal Reserve (FED) said that it was difficult to declare victory regarding the inflation outlook and that they opened the door to an increase of 75 basis points, which also had a downward effect on the parity. Technically speaking, if GBPUSD, which turns to sell movements on the last trading day of the week, can pass behind the 1.2065 level with permanent closes, it can continue to decline until the 1.1985 support, which is indicated by the Fibonacci 100.0 percent expansion line. Above, 1.2190 – 1.2255 resistances can be followed closely.
