Best Trade Ideas for April
I know we've had quite an amazing run these past few month, with over 78% accuracy in our trade ideas and sentiments, and thousands of pips in profits monthly...
GBP: long-term outlook
Information is not investment advice
Technically, the GBP hasn’t moved much from the zone it has been in since 2018. Against the USD, the British pound has been in a zig-zag-shaped larger trend for the last 1.5 years, capped by 1.3340 and supported by 1.2070. Currently, it is in the middle of that channel experiencing an increasing bearish gravity. EUR/GBP, on the other hand, looks more stable and concentrated in a larger channel capped by 0.9050 and supported by 0.8660 for the last 3 years. Disturbances in the Eurozone are the main factor holding this currency from lifting upwards. The GBP definitely has a tough year ahead, hence the downward forces pressing on the GBP/USD and the upward forces pushing the EUR/GBP will be constantly testing further limits in the respective directions.
Fundamentally, the latest reports say that the UK economy shrank 20% during April bringing it back to 2002 state and seeing a plunge in the output of 11%. Altogether, that makes observers expect full recovery to pre-virus state not earlier than in 2022. From a human point of view, that’s a hard pill to swallow. Form a trader’s point of view, that gives clarity to the fundamental background you operate in. Set your farthest targets accordingly.
Similar
CAD Might Weaken As Oil Market Plunges
Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system...
Bitcoin & Gold - Safe Haven Amid Bank Crisis
Investor confidence in the global financial system has been shaken by the collapse of Silicon Valley Bank and Credit Suisse. As a result, many are turning to bearer assets, such as gold and bitcoin, to store value outside of the system without...
Popular
What Will Happen with the Euro? An Economic Perspective.
eurusd-is-falling-what-to-expect-from-the-future-price-movement
Will Australia's "Rampant Inflation" Prevail in May?
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
How Will BoJ Meeting Affect the Yen
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus
Choose your payment system
