Chapter 7 GBP/USD at the strong supply zone
4/10/2022
Fundamental analysis
The dollar index fell to 111.1 on Tuesday after facing pressure in recent sessions, as lower-than-expected US manufacturing data indicated that tightening monetary conditions could have a negative impact on demand, which led to speculation that the Federal Reserve may be Slowing the pace of future interest rate
increases
Technical analysis
On the hourly chart, we can see
the supply zone at 1.14041-1.14607
If this supply zone is strong enough we can see the price fall down until 1.10200
On the other side, The breakout of the supply zone can lead the price to 1.15900.
