GBPUSD Technical Analysis – The greenback came back with vengeance ...Middle East

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GBPUSD Technical Analysis – The greenback came back with vengeance
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Fundamental OverviewThe USD got a boost from the strong US Consumer Confidence data which triggered an aggressive rise in long term Treasury yields. The report however just showed that the labour market remains resilient which is good news for growth and not necessarily bad news for inflation. The greenback benefited also from the risk-off sentiment which seems to be caused more by the month-end flows rather than a fundamental driver. The GBP, on the other hand, has been supported by a slightly more hawkish repricing in interest rates expectations following the hot UK CPI report last week which saw the chances of a rate cut in June evaporating. If we go back into risk-on sentiment, the gre

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