FUND Sell 28.03.2024 12:27
GBP/USD: UK GDP data – driver of the pound’s decline
The GBP/USD pair has been declining for the third week. During the last few sessions, it has been trading around 1.2634 (Murrey level [3/8]) but today, the pound came under pressure again after the publication of data on the country’s gross domestic product (GDP).
FUND Sell 27.03.2024 11:26
GBP/USD: the instrument is correcting to the resistance level of 1.2698
During the Asian session, the GBP/USD pair is trading at 1.2620, developing the downward momentum formed yesterday after a retreat from the highs of March 21.
TECH Buy 26.03.2024 08:19
GBP/USD: wave analysis
Growth is possible.
On the daily chart, the upward first wave of the higher level (1) ended, a downward correction formed as the second wave (2), and the upward third wave (3) develops. Now, the third wave of the lower level 3 of (3) is forming, within which a local correction has ended as the wave ii of 3. If the assumption is correct, the GBP/USD pair will grow within the wave iii of 3 to the area of 1.3146–1.3500. In this scenario, critical stop loss level is 1.2518.
FUND Buy 25.03.2024 09:08
GBP/USD: the pound is correcting, retreating from local lows
The GBP/USD pair is showing corrective growth, testing 1.2600 for a breakout: the instrument is recovering its losses from the end of last week, but activity in the market remains low.
FUND Sell 22.03.2024 10:05
GBP/USD: the Bank of England kept the interest rate at 5.25%
During the Asian session, the GBP/USD pair developed a strong downward momentum, holding around 1.2628 after the publication of business activity statistics and the results of the Bank of England’s monetary policy meeting.