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.
Daily Forex and DAX Signals:
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Our trading ideas for today 23/5/24:
EUR/USD
Long @ 1.0870
Short @ 1.0785
GBP/USD
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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