The sterling pound (GBP) rises a modest 0.2% in a quiet trade, surpassing most of the G10 currencies in the face of Monday’s na session, says Shaun Osborne, head of Strategy of FX of Scotiabank.
Feeling of the CBI best than expected
“The feeling figures of the CBI were slightly better than expected, but still negative in general and at the lower end of their recent historical ranges. There are no large publications of scheduled data before the policy decision of the Bank of England on May 8.”
“The markets are valuing 26.5 basic flexibility points (more than one complete cut) and valuing just over 90 basic points of accumulated flexibility for December. The BOE will also publish its latest inflation report, together with a new set of forecasts that will provide information about the bank’s opinions regarding the economic impact of US tariffs.”
“The upward trend of the GBP/USD remains intact and seems to be ready to be maintained despite the recoil last week. The RSI is upward and remains well above 50 in the 60 media. The short -term support is expected to be in the 1.32 media/low and the resistance is expected above 1,3400.
Source: Fx Street
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