The sterling pound (GBP) is consolidating silently in a narrow range and entering the American session on Friday without changes against the US dollar (USD), they report Shaun Osborne and Eric Theoret, Scotiabank FX chief strategy.
The perspectives are still bullish despite this week’s political turbulence
“The prospects for the GBP are still bullish, despite this week’s political turbulence, and the markets have expressed relief and renewed confidence in the tax situation of the United Kingdom after the government’s support for Foreign Minister Reeves.”
“The launch calendar next week is dense, since we expect trade and industrial production data, which will inform the discussions about the next BOE policy decision on August 7. The markets are valuing approximately 22 basic points of relief for August and a accumulated total of 54 basic cuts of cuts for the end of the year.”
“The trend is bullish, but the impulse has softened and we notice that the RSI continues to approach the neutral zone around 50. The 50 -day SMA (1,3474) remains an important level of medium -term support, and we expect a negotiation range in the short term limited between the support of 1,3600 and the resistance of 1,3780.
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.
