empty
 
 
pk
سپورٹ
فوری اکاونٹ کھولیں
تجارتی پلیٹ فارم
رقم جمع کروانا / نکلوانا

17.09.201900:41 Forex Analysis & Reviews: The prospects for the British pound paired with the dollar have significantly improved

Long-term review

Exchange Rates 17.09.2019 analysis

After the recent movement, the pair has a real opportunity to "visit" the level of 1.2580 in the near future. Last Friday, there was a warning that the quiet trading in the narrow range that has been observed over the past few days is near its end, and a sharp breakthrough of the 1.2380 level can lead to a rapid increase to 1.2420. Although the expectations about the completion of the calm trading phase were true, the subsequent "explosive" price movement was underestimated, because instead of rapid growth to 1.2420, the pound rose to a high of 1.2506. A large-scale rally is unlikely to receive further steady movement, GBP is likely to consolidate profits and return to quiet trading again in the range of 1.2450–1.2530.

Exchange Rates 17.09.2019 analysis

What to expect in the next 1-3 weeks. In principle, there is no reason to exclude further strengthening of the pound. GBP may leave the current trading range, as it has easily overcome several strong resistance levels and rose to a high of 1.2506, which came as a surprise (overall, the currency went up 1.37% last Friday, the largest daily growth since March of this year). The recovery, which began more than a week ago, has moved into a new phase, and we see that the GBP can test the level of 1.2580, even if it can not maintain the current growth rate. On the other hand, only a break of 1.2350 (strong support level) will indicate that the GBP has maintained strength and continues to develop.

Irina Maksimova,
Analytical expert of InstaSpot
© 2007-2024
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

ابھی فوری بات نہیں کرسکتے ؟
اپنا سوال پوچھیں بذریعہ چیٹ.