TECH Buy 25.02.2020 08:22
GBP/USD: wave analysis
The pair may grow.
On the daily chart, the first wave of the higher level 1 of (3) was formed and the development of a downward correction as wave 2 of (3) was completed. At the moment, the formation of the wave c of 2 in the form of a finite diagonal triangle is completed and, if the assumption is correct, it is logical to expect the pair to rise to the levels of 1.3211–1.3514. The level of 1.2847 is critical and stop loss for this scenario.
FUND Buy 24.02.2020 09:13
GBP/USD: the pound is recovering
During today's Asian session, the GBP/USD pair is trading near zero, consolidating near local highs, updated at the end of last week within corrective growth. Friday’s UK and US macroeconomic statistics were ambiguous but only strengthened the technical factors for the oversold pound.
FUND Sell 21.02.2020 09:37
GBP/USD: strong dollar controls the market
The GBP/USD pair moves within the downward channel of 1.2870–1.3100. Since last week, the upper limit of the range has shifted downward. The rate depends on USD dynamics and ignores the vast positive UK macroeconomic statistics: reducing the number Claimant Count to 5.5K with the forecast of 22.6K, reducing the deficit in the growth of CPI to –0.3% against the expected –0.4%, and finally, the growth in retail sales for January to 0.9% against the forecasted 0.7%.
FUND Sell 14.02.2020 12:52
GBP/USD: general review
During the week, GBP was actively strengthening against USD, and yesterday, the price rose to 1.3061 (Murrey [2/8]) amid the resignation of Chancellor of the Treasury Sajid Javid. Officially, the reason for it was Javid’s disagreement with the demand of Prime Minister Boris Johnson to replace his advisers, however, experts believe that the reason is deeper and lies in the disagreement of Javid and Johnson regarding the increase in government spending (the former official advocated limiting them). The new Chancellor is the former Chief Secretary to the Treasury Rishi Sunak. The market expects him to move away from his predecessor's policies and increase budget spending, which should stimulate economic growth. A draft of the first budget of Great Britain after Brexit should be submitted in March.