-
US Dollar Forecast: GBP/USD Tests Former Resistance Zone for Support
GBP/USD extends the decline from the monthly high (1.3045) to pull the Relative Strength Index (RSI) back from overbought territory, but the exchange rate may consolidate over the remainder of the week as it tests the former-resistance zone around the March high (1.2894) for support. US Dollar Forecast: GBP/USD Tests Former Resistance Zone for Support GBP/USD continues to give back the advance following the UK Consumer Price Index (CPI) as it registers a fresh weekly low (1.2878), and the exchange rate may continue to pare the rally from earlier this month amid the failed attempt to test the 2023 high (1.3143). ... (full story)