empty
 
 
sp
Soporte
Apertura instantánea de la cuenta
Plataforma comercial
Depositar/Retirar

06.05.202111:50 Forex Analysis & Reviews: GBP/USD Hot Forecast for 6 May, 2021

  • GBP/USD struggled for a firm direction and oscillated in a range through the early European session.
  • Investors seemed reluctant ahead of the BoE policy decision and the Scottish election on Thursday.
  • The emergence of fresh selling around the USD extended some support and helped limit the downside.

Exchange Rates 06.05.2021 analysis

The GBP/USD pair extended its sideways consolidative price action through the first half of the European session and remained confined in a range around the 1.3900 mark.

The pair struggled to capitalize on this week's solid rebound from the 1.3800 level, or the lowest level April 16 and has been oscillating in a range for the second straight session on Thursday. Investors now seemed reluctant to place any aggressive bets, rather preferred to move on the sidelines ahead of Thursday's key event risks – the BOE monetary policy decision and the Scottish parliament election.

The BoE is widely expected to maintain the status quo at the conclusion of the May meeting. The decision will be accompanied by updated economic projections, which might infuse some volatility around the British pound.

The downside, however, remains cushioned, at least for the time being, amid some follow-through US dollar pullback from two-week highs. Wednesday's rather unimpressive US macro data reaffirmed market expectations that the Fed will keep interest rates low for a longer period. This, along with the underlying bullish sentiment in the financial market, acted as a headwind for the safe-haven greenback.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Jan Novotny,
Analytical expert of InstaSpot
© 2007-2024
Benefíciese de las recomendaciones de los analistas ahora mismo
Recargue su cuenta de operaciones
Abra una cuenta de operaciones

¡Los informes analíticos de InstaSpot lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaSpot, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.