The pound sterling continues against the US dollar in an upward sideways trend, noting that yesterday’s session closed in favor of the pound against the dollar at the level of 1.2688, and this pace continues according to early trading, as the dollar is still under pressure from strong possibilities of reducing interest rates.

The pound sterling is still moving positively against the dollar, noting that the United Kingdom’s GDP was released today in two different periods, lower than expectations, which is supposed to negatively affect the pound sterling, but it is still moving stably against the dollar, and this is due to the pressures that the dollar is exposed to due to prices. The interest rate is in addition to the US economic data released yesterday, which cast a negative shadow on the dollar.

Note that the dollar is awaiting general economic data today, represented by basic personal consumption expenditures and building permits, which will have an impact on the course of the dollar’s movement in the upcoming trading.

Regarding the technical indicators, the trade is currently moving above the moving average, and the Relative Strength Index has moved above the 50 level, in line with the MACD, which is about to achieve a positive intersection at the zero levels, with indications that indicate the possibility of prices continuing to rise according to the period of four hours.

*All data provided is intended for educational or informational purposes only and should not be considered investment advice.