FXStreet – After the initial decline in the early European trade to 1,2930, is the purchase interest compared to the GBP/USD increased and it was able to in the past hour, a new daily high will be formed.
It is missing the Pair, however, at sustainable dynamics, and so it retreated from the daily high, so that it is now trading with a slight gain around 1,2950. The sentiment towards the British pound remains positive, especially after the British Retail Consortium Like-for-Like Sales finished in April, a decent result, after the last week the PMI reports sections.
The market participants are convinced, however, on the other side of it is that the Fed will raise interest rates from the meeting in June. The rise in US Treasury bond yields supported demand for the USD, the pair is limited, the short-term upside.
The economic calendar has not much to offer, and so the Greenback dynamics and the movement of bond yields for the rest of the Course on Tuesday will be responsible.
• GBP/USD on the way back to 1,2900?
Carol Harmer, founder of charmertradingacademy.com writes, “the divergence of The indicators… but we have overbought conditions on the 1H and 4H…”
“Only with a break above 1,3015 will change the current image… If this is done, we see a 2. Goal 1,3135…”, she added.
** FXStreet News Editorial, FXStreet**