GBP/USD trading halfway between the crucial 1.30 and the 1.3550 levels on the Daily Chart

gbp-l4GBP/USD (current price: 1.3225)

Cable is trading higher again this morning after strongly bouncing off the key resistance level near 1.3550 towards the end of last week. The pair has been in the center of attention in the past couple of month, and volatility remains elevated, as the future of the British economy is uncertain, and the Bank of England might pursue aggressive monetary policies to help growth later on this year. MPC member Weale expressed further concerns about the confidence of businesses and consumers yesterday, but the Pound still rose against the struggling Dollar.

Our assessment: The 1.30 and the 1.3550 level might still be the most significant ones for the pair this week, as the Pound will probably stay choppy because of the questionable economic outlook.

1907page 1

Рейтинг FOREX брокеров

Рекомендуемые брокеры


 

Leave a Reply