Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /home2/onlinesh/public_html/freemoneyforum.net/Sources/Load.php(225) : runtime-created function on line 3
GBPUSD: Bulls Should Be Cautious
  Freemoneyforum.net Welcome, Guest. Please login or register.
Did you miss your activation email?
August 19, 2019, 05:26:57 AM
Home Help Search Login Register

Trading Forex Crypto MBC Nymex EXNESS
Trading Crypto currencies CFD 24/7 EXNESS
Binary option Crypto currencies 24/7 Olymptrade
InstaForex - the best broker in Asia InstaForex

+  MAKE MONEY ONLINE || FreeMoneyForum.Net
|-+  Online earnning
| |-+  Forex
| | |-+  GBPUSD: Bulls Should Be Cautious
« previous next »
Pages: [1] Print
Author Topic: GBPUSD: Bulls Should Be Cautious  (Read 174 times)
GersonH
Newbie
*
Posts: 17


View Profile Email
« on: September 06, 2018, 08:52:33 PM »

The pound staged an impressive recovery yesterday, though trimmed intraday gains consequently. GBP/USD continues to move north on Thursday, but remains below the key 1.30 handle so far. The sterling has regained the upside impetus due to a weaker dollar demand coupled with Brexit news.

Positive Brexit headlines from Germany have inspired the bulls and partially eased concerns over a no-deal divorce, which spurred sterling buying after four days of decline. The technical picture has improved as a result, and the easing demand for the greenback also helps.

Nevertheless, bearish risks are still there for the cable as Brexit issues are not resolved yet, while the buck may yet regain strength in the nearest future as Trump is about to announce fresh tariffs on China exports and thus make safe havens attractive again, after a short period of stabilization.

As such, the pound bulls should be cautious in the current recovery which could reverse abruptly should the risk aversion reemerge as sterling remains very sensitive to risk sentiment, and the greenback receives a decent support from the trading wars in general. In a negative scenario, GBP/USD could get beck below 1.28 after a dip under the 20-DMA at 1.2850.
Attention about forex news schedule for this week
Logged
Pages: [1] Print 
« previous next »
Jump to:  


Login with username, password and session length

Powered by MySQL Powered by PHP Powered by SMF 1.1.11 | SMF © 2006-2008, Simple Machines LLC Valid XHTML 1.0! Valid CSS!
Page created in 0.028 seconds with 18 queries.