The sterling pound falls while investors await the BOE policy decision
The sterling pound (GBP) yields less than its main peers, except the safe refuge assets, On Tuesday while investors expect the monetary policy decision of the Bank of England (BOE), which will be announced on Thursday.
According to monetary market expectations, operators have discounted a reduction of 81 basic points (PBS) in the interest rate this year, which suggests that there will be more than three 25 PBs cuts in the interest rate for December. The first is expected to occur this week, which will push loan rates down to 4.50%. Read more…
GBP/USD Forecast: The sterling pound is traded near a key resistance
After falling to a minimum of two weeks of 1,2250 early Monday, The GBP/USD invested its direction and closed the day slightly upwards. Early on Tuesday, the par is quote on a narrow channel, slightly below 1,2450.
The improvement of risk appetite in the second half of the Monday forced the US dollar (USD) to erase their daily profits, helping GBP/USD to record a decisive rebound. Read more…
Elliott of GBP/USD wave technical analysis [Video]
The analysis of the daily graph of the Libra sterling against the US dollar (GBPUSD) applies Elliott’s wave theoryindicating an ongoing upward trend with an impulsive structure. The main approach is on the orange wave 3, which has begun after the end of the orange wave 2 inside the navy blue wave. This suggests a continuation of the market bunder.
Currently, the price is located on the navy blue wave, representing the initial phase of a possible extended upward sequence. The completion of the orange wave 2 indicates a transition to a stronger bullish thrust, with the orange wave 3 actively developing. This wave is typically the most powerful in an impulsive structure, reinforcing the upward feeling. Read more…
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.
