November 30, 2022

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Cable retreats to one-week lows as dollar stays more resilient so far

1 min read

GBP/USD eases to a low of 1.3852

GBP/USD H1 29-06
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That’s the lowest since the start of last week as the dollar stretches gains slightly across the board in European morning trade.

Of note, the near-term chart highlights that cable sellers are still in near-term control after keeping below 1.4000 and holding several tests of the key hourly moving averages as pointed out above.

That said, this doesn’t take us into much new territory as the post-FOMC range holds.

GBP/USD D1 29-06

The daily chart still shows that the 1.3800 level is the key support region that sellers must take out next, after having seen a light bounce last week.

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