GBP/USD Sees Increased Volatility

This quieter week favoured a slight U.S. dollar recovery, at least in the EUR/USD, but the broader uptrend in this pair remains intact – provided that the euro remains above 1.08.

The GBP/USD saw some upward movement until 1.2762 on the back of rising volatility as traders prepare for an earlier-than-expected election in the UK. Prime Minister Sunak confirmed mounting speculation about the timing of the UK general election that is now on July 4. The surprise-move overturned expectations of an autumn poll.

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Our trading ideas for today 23/5/24:


Long @ 1.0870

Short @ 1.0785


Long @ 1.2735

Short @ 1.2685

DAX® (GER40)

Long @ 18760

Short @ 18660

Settings for all trades today: Entries from 8:00 am UTC, SL 25, TP 40


Disclaimer: All trading ideas and expressions of opinion made in the articles are the personal opinion and assumption of MaiMarFX traders. They are not meant to be a solicitation or recommendation to buy or sell a specific financial instrument.

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