Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
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.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.
Many investors treated gold as a protection against inflation. However, last week, gold lost its major support and dropped despite rising inflation. Why did it act like this?