Analysis of GBP
Analysis of GBP-Reuters reports comments of the Bank of England’s Vlieghe It is not clear yet, whether negative rates can be lowered even more If the economy needs more stimulus, negative rates can be used Whether QE expansion will be needed depends on market conditions Will not be a member of the МРС when the Bank of England decides to raise rates.
Our Analysis:
Provided that the currency pair is traded below 1.4215, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1.4188
- Take Profit 1: 1.4170
- Take Profit 2: 1.4150
Alternative scenario:In case of breakout of the level 1.4215, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1.4215
- Take Profit 1: 1.4235
- Take Profit 2: 1.4260
GBP/USD Intraday: the upside prevails.
- Pivot:1.4170
- Our preference: Long positions above 1.4170 with targets at 1.4215 & 1.4235 in extension.
- Alternative scenario Below 1.4170 look for further downside with 1.4150 & 1.4130 as targets.
- Comment: The RSI shows upside momentum.
GBPUSD Chart
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