comienzo
comercio

Principal >
Datos analíticos de Forex
>
Pronóstico Fresco
>
Forex Fundamental Analysis
>
Tense foreign policy situation on the pound

Tense foreign policy situation on the pound | 12 Agosto 2024

12 Agosto 2024, GBP/USD

Tense foreign policy situation on the pound

GBPUSD:

Tuesday will see the release of monthly UK employment data and US Producer Price Index (PPI), followed by UK and US consumer inflation data on Wednesday. In addition, Thursday's preliminary UK second quarter GDP data will impact sentiment around the British Pound (GBP) and help determine the next leg of directional movement for the GBP/USD pair.

Meanwhile, the Bank of England's (BoE) recent move to cut interest rates on August 1 for the first time since 2020, bets on two more rate cuts in 2024, and ongoing unrest in the UK continue to undermine the British Pound's position. In addition, the risk of further escalation of geopolitical risks in the Middle East provides some support to the safe-haven US Dollar (USD) and puts pressure on GBP/USD.

Israeli intelligence believes that Iran has decided to directly attack Israel and may do so within days in retaliation for the assassination of Hamas leader Ismail Haniyeh in Tehran in late July. Nevertheless, expectations of more interest rate cuts by the Federal Reserve (Fed) may deter Dollar bulls from aggressive bets and serve as a tailwind for GBP/USD.

Hence, it would be prudent to wait for strong follow-through selling before positioning for a resumption of the three-week downtrend from the mid-1,3000s, or the yearly peak reached in July. In the absence of any market-important economic releases on Monday, dollar price dynamics will weigh on GBP/USD and create short-term trading opportunities.

Trading recommendation: We follow the level of 1.2800, if the level is fixed above, we take Buy positions, if the level rebounds, we take Sell positions. Fund your account with cryptocurrency and you will receive up to 10% in balance on your first deposit. The additional funds will be used for trading, increasing trading volumes and helping you withstand drawdowns.

David Johnson
Analyst of «FreshForex» company
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión

Mostrar contraseña

Ocultar contraseña

 ¿Se te olvidó tu contraseña?
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.

Nuestros mejores premios:

Trustpilot
FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company's services and information on the site are not intended for citizens and residents of some countries, such as Belgium, China, North Korea, France, Hong Kong, Russian Federation, Spain, Great Britain, USA, and also countries identified by the FATF as high-risk countries or countries with serious AML/CFT deficiencies; countries or regions that are under international sanctions. A complete list is available on the "Countries where the company's services are not provided" page. The Company does not have representative offices in the Russian Federation and does not register clients from the Russian Federation.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.
© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.