GBP/USD Review, May 6-10, 2019
Unlike Euro, GBP feels much better as UK economics allows decreasing stimulus in the nearest future. This was the main point from the recent Mark Carney speech during the Bank of England Press Conference. However, he did not mention any exact date.
UK data was neutral last week and met the expectations. This is why traders paid much attention to the Bank of England’s and FOMC’s meetings. We gave comments on USD in out EUR/USD review.
As we have mentioned above, GBP looks very promising as the downside tendency has come to an end and British currency tries to rebound. GBP/USD has broken out the resistance at 1,2980. We think that the currency pair is likely to move towards 1,3232 this week. Once this area is reached, look for further signals.
UK data was neutral last week and met the expectations. This is why traders paid much attention to the Bank of England’s and FOMC’s meetings. We gave comments on USD in out EUR/USD review.
As we have mentioned above, GBP looks very promising as the downside tendency has come to an end and British currency tries to rebound. GBP/USD has broken out the resistance at 1,2980. We think that the currency pair is likely to move towards 1,3232 this week. Once this area is reached, look for further signals.
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