Don’t waste your time – keep track of how NFP affects the US dollar!

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Follow us on Facebook

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

FBS Mobile Personal Area

FREE - In Google Play

View
GBP: two factors

GBP: two factors

Information is not investment advice

The GBP is pretty much in a roller coaster now.

From the downside, it has the hopes for the successful and nearing Brexit deal pushing it upwards. We have to note that it is more hopes than anything else. So far, the process is quite slow, and the sides are both pretty unsatisfied with where it goes. So whether there will be a deal on time is still a question. That’s why, although the hopes are there and keep supporting the GBP, this factor cannot be taken as a reliable upward driver – at least, until there is more concrete progress with Brexit.

From the upside, the GBP is under pressure due to quantitative easing measures which are still underway. That means, in the mid-term, there will be at least one firm factor pressing on the GBP and limiting its bullish advances.

With both factors combined together, we have a sporadic-looking tactical sideways movement of the GBP as in the chart below. Technically, it can go down to touch the key support of 1.2500 or descend lower to the channel border somewhere below 1.2450. Eventually, it is likely to go up again though, so decided where you go short-term (bearish) or long-term (bullish) with GBP/USD.

GBPUSDH4.png

                                                                                                  LOG IN

Similar

Popular

COVID VACCINE KEEPS TRADERS OPTIMISTIC

Futures tracking the S&P 500 index hit a record high on Tuesday as investors shrugged off simmering US-China tensions to bet on a stimulus-led economic recovery from the COVID-19 pandemic.

Exuberance and Optimism Keep Going

Russian health ministry has approved coronavirus vaccine developed by Moscow's Gamaleya Institute. He hopes Russia will start mass production of coronavirus vaccine very soon.

Choose your payment system

Learn more