Fundamental events today are forcing “cable” to now test a key Fibonacci support level, even while this FX pair had been ripe for a technical pullback.
GBPUSD has been dragged back below the 1.220 psychological level.
The just-released UK wages data suggests that pay growth is easing, which may allow the Bank of England to hold back from proceeding with another rate hike.
The Pound is the worst-performing G10 currency against the US dollar today, as the UK economy struggles in light of the Bank of England's aggressive rate hikes.
The Pound is the worst-performing G10 currency against the US dollar today, as the UK economy struggles in light of the Bank of England's aggressive r...
GBPUSD PMI Bank of England Jackson Hole Fed Chair Jerome Powell
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