trusted trading apps malaysia–HXFXglobal reminds you:
Not Hawkish Enough From J.Powell? GBPUSD Sways With Solid Support
Fears Of The Epidemic Eased, Bank of England Raise Interest Rates, GBPUSD Bull Roars.
Aggressors are suggested to consider marginal Long after pulling back to around 1.36935, Target 1.37420, Stop-Loss by 1.36690.
Non-Aggressors are advice to await for better entry.
During the morning session today, GBPUSD rose slightly and fluctuated above the flat. As the testimony of Federal Reserve Chairman, J.Powell, in the congressional hearing on Tuesday was less Hawkish than expected. Meanwhile, the US CPI(Dec)(YoY) continued to advanced, yet reached the highest in 39 years, as consequent, made USD plunged through the critical of 95.0 and closed with declination. Today, owing to the great news on the upcoming tightening policy and else from FED. The price has perform with optimistic output. Therefore, if there is none action taken on U.S. interest rates, it may not be able to stimulate USD to climb. Additionally, the Bank of England has begun to raise interest rates at the end of last year, and the recent easing of concerns on the rebounded pandemic in the United Kingdom, what may created the new chance to the United Kingdom to raise their interest rates again. As GBP strengthen, USD weaken, would made GBPUSD to easily rise than fall.
In 4Hrs range, (5,10,20)Tri-MAs on climb with Bull arrangement. Candlestick in correction around 5MA with black candle. MACD positive column reducing. KD down-trend. To conclude, GBPUSD do holds the likelihood to pullback after the soar occurred before.
(Information above is purely personal opinion, doesn’t represent platform’s standpoint. This opinion can only be use as reference)
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