Mulai
trading

Halaman Utama >
Analytics
>
Fresh forecast
>
Analisis Fundamental Forex
>
Rebound and recovery of GBP/USD

Rebound and recovery of GBP/USD | 04 Maret 2024

04 Maret 2024, GBP/USD

Rebound and recovery of GBP/USDGBPUSD:

The Pound-Dollar pair is building on Friday's rebound from the important psychological level of 1.2600, or one-and-a-half-week low, and gained positive momentum for the second day in a row on Monday. During the Asian session, spot prices hit a multi-day peak around 1.2660-1.2665, helped by a combination of factors.

The British Pound (GBP) is receiving support from hawkish remarks from Bank of England (BoE) Chief Economist Hugh Pill on Friday, who said that the first cut in the key interest rate is not imminent. The US Dollar (USD), on the other hand, remains subdued amid disappointing US macroeconomic data on Friday and less hawkish remarks from Federal Reserve (Fed) officials. In addition, the recent rally in favor of risk in global equity markets further undermines the safe-haven US Dollar (USD), which in turn provides some support to the GBP/USD pair.

Nevertheless, downside opportunities for the USD look limited amid growing confidence that the Federal Reserve will keep interest rates higher. Traders may also refrain from aggressively targeting rates ahead of important US economic releases this week, including the closely watched Non-Farm Payrolls (NFP) data on Friday and Fed Chairman Jerome Powell's semi-annual testimony to Congress on Wednesday and Thursday. This, in turn, prompts some caution before positioning for further GBPUSD strengthening in the near term.

Trading recommendation: Watch the level of 1.2680, take Buy orders if the pair strengthens

We offer you to work with the most popular and proven trading terminals - MetaTrader 4, MetaTrader 5, as well as WEB-terminal MetaTrader 5.

David Johnson
Analyst of «FreshForex» company
Setuju dengan review?
opini pedagang:
Close
Masuk

Tunjukkan Kata Kunci

Sembunyikan Kata Kunci

 Lupa kata sandi?
Browser Anda tidak mendukung kue. Jika cookie dinonaktifkan di browser Internet Anda, Anda mungkin memiliki masalah dengan render daerah Pribadi. Cara mengaktifkan dukungan cookie.

Penghargaan terbaik kami:

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.