Pound ready to run

7 July, 2017

The physiological mood may be changing with the British pound as we can see on the chart as the retractions become smaller and the movements up become bigger. Over the last week, the stance from the bank of England has changed from bearish to bullish.

The market is now predicting we may see a rate hike in the nearest future on the back of a reduction in stimulus, which may be behind the positive sentiment.

The British government also now seems to be more willing to negotiate more on a better Brexit deal, which has also added to the increase in confidence.

We believe that the pound  now has the momentum with the worst times behind and may be getting ready for strong movement upwards firmly above the $1.30 level but it may find some troubles around the strong resistance level of $1.305 on two previous occasions.

Until the currency finally breaks begins the solid uptrend there may be a few short term long trades to be had by entering around the $129.20 - $1.29.40 area and exiting as the trade approaches the $1.320 mark which is before the strong resistance level.


Source link  
Pound may suffer in the long term

The British pound continues to power ahead in today's trading session after yesterday's developments in the British parliament that many see as ending...

Gold needs to remain above $1300

The gold price has staged a substantial rally since last week after the US Federal Reserve latest board meeting where they stated that any move...

Only way for oil is down

The oil price has now broken down through the all important $50 mark, which is a physiological blow to any chance of a rally, and according to...


D-Day for the pound

Traders and Fund managers alike are expected to be glued to their desk on Tuesday evening UK time as the British parliament vote on the Brexit Deal put before them...

Will gold's rally continue?

After spending the majority of November range bound, the gold price has finally broken out to the upside as investors seek out safe havens from the anticipated...

Dollar could weaken for years

The US dollar has been the star performer in the currency markets this year, gaining solidly against all the major currency but some are beginning...


Gold may finally Breakout

Gold is now on track to rack up its 5th straight day of gains on the back of geo political factors as well as expectations the US Federal Reserve may...

Will gold continue rally?

For more than 2 weeks now, the gold price has been on a steady uptrend after volatility in world stock markets, and in particular, the US market which...

Pound may be headed for parity

The market had been expecting such a move so all eyes were on the following monetary statement for signs of the US central bank's future moves...

  


Share it on:   or