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The market is expected to remain volatile, with both buyers and sellers becoming more aggressive over time. However, there appears to be more buying pressure than selling pressure at present, especially as the Bank of England continues to combat major inflation.
The currency may target the 1.2550 level, although substantial resistance is expected at this level. Short-term pullbacks may present opportunities for buyers.
The 1.2350 level is anticipated to provide a significant level of support, but if the market breaks below the 200-Day EMA, it could lead to a decline toward 1.18501.
The currency may target the 1.2550 level, although substantial resistance is expected at this level. Short-term pullbacks may present opportunities for buyers.
The 1.2350 level is anticipated to provide a significant level of support, but if the market breaks below the 200-Day EMA, it could lead to a decline toward 1.18501.
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