Uk in the unemployment crisis warn!!! Horrible!!! FundamentalsHello guys, in this technical analysis, we see how Sterling Pound is go to drop the price, also economyst and financial analysis hope that the currency going to crash the value of the USD. So, guys the situation in Great Britain is warn a possible gran reccesion in UK based in the unemployment crsisis and healthly system about the growth of covid-19 cases. Also to make a pretty in H4 timeframe, I identify a nice bearish BAT and there are a possibility that Sterling reach the cotization of $1.22 USD Approximately, because there are a horrible fundamentals for the UK economy.
Also, as we are in profit of more of 93 pips, I reccomend to put a break even of the zone of $1.2567 to protect your position, because Sterling Pound is going to crash with a bad news!!!. Reccomend to put a break even to protect 52 pips, because this is our profit if in case that price go back up.
And finally, in Daily we could to in formation of bearish channel and also, if you noticed, I entry in the exact and good position to a short of GBP/USD. But rememebr that drop is so horrible as UK economy enter in a reccesion of this pandemic and the bad news that leave in the future in short term as Brexit is outlook for the coronavirus and England's people pass the quarantine in their house and unemployment crisis it's will be affect.
Now, I share you my fundamentals what I found out:
1. GBP/USD Exchange rate retreasts as disappointing GDP points to tough road ahead for UK economy.
2. The pound to US Dollar exchange rate is on the defensive today, in response to some weaker-than-expected GDP fiugres from the UK.
3. Poor GDP figures pose problem for GBP long term recovery
4. Having fallied through the first half of July, the pound now faces some potential hurdles going forward with the publication of the UK's latest monthly GDP release
5. According to data published by the office for national statistics (ONS), the UK economy grew by 1.8% in May, up from a 20.3% of contraction in May but missing expectatives for a more robust 5.5% expansion
6. The disappointing figures suggest that the UK economy is not bouncing back quite as quickly as economist had hoped, after the lockdown saw brought economic activity to a sheerching halt in April.
7. Uk firms rethink FX hedging as coronavirus and Brexit fog outlook
8. Coronavirus adn the end-2020 Brexit deadline have left UK firms facing historic uncertainties, prompting many to find more flexible ways to protect their foreign exchange exposure.
9. The pandemic is expected to cause Britain's biggest economic contraction in 300 years and swell unemployment, debt and corporate bakruptions. That's added a risk is that Britain could cast off from the European Union next year without having agreed any trade deals.
Important 3 keys to take in noticed:
1. Analysts warn for an impeding employment crisis could add to the UK's economy
2. Robert Alster, head of investments services at close asset management comments that as the UK economy it's only grow up by 1.8% in May, the month where lockdown started to ease, points to choppy waters ahead
3. While the GDBP has improved slightly it's worth voting that the economy is still 25% smaller that it was in February 2020, before the pandemic took hold. All Jobs, both on the high street and in industry, are disappearing at an alarming rate and there are no signs yet of any real improvement in the UK labour market.
So guys, this 3 keys it's was impact me, because Great Britain could entry in a gran reccesion that never we see it in the past years. So, has Sterling is crash, UK economy it's could to passing one of the biggest crisis in the UK history and the Sterling Pound could be affect about the empoymnet's inflation, consumer confidence rate and ohter factors could be affect as indicator for UK and their currency Sterling.
