Don’t waste your time – keep track of how NFP affects the US dollar!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
Warning! Old version of the browser!
Press one of the icons below to proceed to the official website of the developer and download the latest version of your browser.
Online Forex broker
Information is not investment advice
The British pound has been gaining since May 18 and it’s unlikely to stop. What are the reasons behind this?
First of all, the market sentiment has really improved these days as economies are reopening, and the end of the crisis is visible. Another reason is that Brexit talks have been positive in tone, according to UK Chief Negotiator David Frost. Most investors believe that the agreement will be soon achieved in next few months.
However, there is hardly a real progress between the UK and the EU. It’s obvious, that Brexit wasn’t a key problem for quite a long time for both sides. They were mainly focused on mitigating the coronavirus damage on their economies. And now, when rates of new infections have significantly decreased and most companies are back to work, authorities have more time for the Brexit issue. Last week Germany claimed that it would step in Brexit negotiations in autumn. They even set a deadline to reach a compromise – 15 October.
The sticking point is fishing. According to Head of Unit European Commission Stefaan De Rynck, both the UK and the EU have "maximalist" positions and they should get into more detailed discussions “on stocks on quotas, on access to waters and see where the landing zone is on that”.
To sum up, the British pound is moving up on optimistic outlook for Brexit negotiations. Nevertheless, any disputes or tensions between the EU and the UK may put some pressure on the British pound in next months. Anyway, most analysts expect GBP to rise at the end of this year as the real deadline approaches.
Let’s look at the GBP/USD chart. Now the price struggles to break through the 200-day moving average at 1.26. If it crosses it, it will open doors towards the 78.6% Fibonacci retracement level at 1.2825. The next retracement will be at 1.31. Support levels are 1.25 and 1.23.
Despite the negative news and worrying headlines, we recommend traders to make mental reframing of the situation. This way, you can look at the market from a different perspective. Let’s observe how you can take advantage of the uncertainties and make the fundamentals work for you!
The US Federal Reserve may refrain from more aggressive interest rate hikes in March due to geopolitical risks after Russia's special operation in Ukraine…
Hello from the far 2022! FBS analysts have used some magic to travel to the future and brought you some hilarious predictions.
The stock market has reversed, and now it’s going lower and lower…
Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?
Japan's inflation is set to reach 2% in April's reading, for the first time since 2015. But what about the weaker Yen?!
Your request is accepted.
We will call you at the time interval that you chose
Next callback request for this phone number will be available in 00:30:00
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
