Blacklist of scam sites

Forex Traiding

Last minute forecast for GBP / USD from 01/20/2021



DATE OF PUBLICATION: 2021-01-20 08:49:28 Against the background of a completely empty macroeconomic calendar, the pound showed an extremely restrained growth, which looked more like a purely technical rebound, after several days of steady decline. But unlike yesterday, today the pound can receive serious support in the form of inflation data, which should rise from 0.3% to 0.6%. Of course, against the backdrop of growing dissatisfaction of British business with the trade agreement signed at the end of last year between London and Brussels, it is logical to expect further easing of its monetary policy from the Bank of England, up to the reduction of the refinancing rate. But the rise in inflation may lead to the fact that this decision will be postponed, at least until the end of February. And by that time, the situation may have changed so much that the British regulator will not even need to take such measures. So the pound really has reason to be optimistic. Of course, if inflation forecasts are confirmed. Inflation (Great Britain): Since the beginning of the trading week, the GBPUSD currency pair has been following the recovery path relative to the decline of 1.3708 -> 1.3519, where market participants have already managed to return the quotation higher than 1.2650, which means a recovery of more than 70%. Market dynamics at the same time slipped to the lowest level in recent years, the average daily indicator does not exceed 100 points. If we proceed from the current position of the quote, then an upward inertial move is clearly visible, which may well lead us to a local maximum. trading chart in general plan, daily period, it can be seen that the quote is still at the conditional peak of the medium-term uptrend. It can be assumed that, taking into account the current inertial move, we are expecting another touch of the resistance area of ​​the medium-term uptrend 1.3690 / 1.3710, where we should expect a slowdown followed by a rebound. From the point of view of a complex indicator analysis you can see that technical instruments on the hourly and daily timeframes signal buying due to price movement at the conditional peak of the trend. Material provided by InstaForex – www.instaforex.com Source – InstaForex

Related posts
Forex Traiding

Last minute forecast for EUR / USD from 03/02/2021

Forex Traiding

Bitcoin can be killed by its creator. The mysterious Satoshi Nakamoto is capable of destabilizing the market.

Forex Traiding

The $ 44,000 support weathered, Bitcoin recovered to $ 50,000. What's next?

Forex Traiding

EUR / USD Forecast for March 2, 2021

Subscribe to our newsletter and
Stay up to date

Leave a Reply

Your email address will not be published. Required fields are marked *