The pound sterling (GBP) continues to follow the widest trend of the USD, in the absence of important fundamental developments at home, says Shaun Osborne, Head of Strategy of FX of Scotiabank.
GBP recovers some land against Eur
“The RICS housing price index fell to a 11, lower than expected in February (compared to 20 predicted); the Rics blames the growing uncertainty and the weakest confidence, with recent tax increases and a slow progress in the reduction of rates weighing on the feeling.”
“The cautious approach to the BOE relaxation is favorable for the GBP, however, and can help the GBP recover some land against the Eur, with the crossing showing signs of stabilization around the area of ​​0.8450 after strong profits in early March.”
“A slight loss for the GBP leaves the spot trade well within the range of yesterday, which extended the GBP profits just under 1.30— the highest level since the beginning of November. The trends are still favorable for the GBP in the graphics in the short and medium term and the GBP should find support in lower falls before the support in 1,2910. The resistance is in 1.30 1.3125/50. “
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
