fxstrategist
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Gbpusd
The drop on the GBPUSD may stall for now, but the bearish trend is still in place. next support, the 1.3200 level.
The drop on the GBPUSD may stall for now, but the bearish trend is still in place. next support, the 1.3200 level.
i looked a lot today into the GBP/US market and why my previous post may be right it also could go completely the other way. even as low as 1.22 in the next few months. I still stand by my comments regarding the low GBP will give the UK the ability to grow from within. For the first time in ages it will be more profitable to employ UK workers to manufacture etc than just import.
However all that depends on the government and how fast they make positive steps forward. I find it hard to believe that David Cameron has announced his resignation in November. The time for change is now, the time for action is now. 5 months away with Cameron and his bitterness towards the decision will no be good for the UK.
Business needs some government action for it to be able to kick start the economy again. Sadly i feel once again that poor decisions from politicians will cost the people dearly.
arigoldman
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Neutral on this pair.
On Thursday, the Bank of England's Governor Mark Carney said that the uncertainty caused by Brexit, can put pressure on the UK economy for some time. To support it, the British regulator considers to mitigate the monetary policy until the end of the summer. Probably, the Bank of England in the first place will reduce the key interest rate by 25 basis points, and this will decrease the pound below $1.3.
fxstrategist
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Gbpusd
The GBPUSD is still with a good support at the 1.3200 level, it may try to break it to the downside, the 1.3532 may act as resistance.
The GBPUSD is still with a good support at the 1.3200 level, it may try to break it to the downside, the 1.3532 may act as resistance.
The British pound registered a rise against the US dollar on Monday. After a volatile session, the pound added 35 pips at a closing price of 1.3281. The graphics continue to develop under moving averages, while the index of relative strength remained on neutral territory. If prices continue to rise the pair will head towards resistance at 1.3480. On the downside, we can expect a break of the support at 1.3200.
The British pound started the week with an increase, recording a second consecutive positive session. The pair climbed 41 pips to 1.2991, but remained at a record low for the past 31 years levels. The daily limit values were noted at 1.3017 and 1.2850. Bears remain in a leading position, but relative strength index issued for weakness. Break of 1.3110 will contribute to positive attitudes with probable next target 1.3530.
On Tuesday, the dollar falls against other major currencies as investors shifted attention to the forthcoming meeting of global central banks on expectations of additional stimulus measures from their side.
GBP/USD rose to 1.3267, rebounding from a 31-year low of 1.2794 reached last Wednesday.
GBP/USD rose to 1.3267, rebounding from a 31-year low of 1.2794 reached last Wednesday.
fxstrategist
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Gbpusd
The GBPUSD breaks above the 1.3200 level and the bullish trend may continue towards the 1.3532 level.
The GBPUSD breaks above the 1.3200 level and the bullish trend may continue towards the 1.3532 level.
