The sterling pound (GBP) enters the NA session on the flat Monday against the US dollar (USD), a relative lagging in a moderate appetite environment for the risk and slight weakness of the USD, says the head of FX Strategy of Scotiabank, Shaun Osborne.
The CPI is Wednesday and the BOE is Thursday
“The internal risk is elevated this week while the markets expect the publication of the IPC on Wednesday, just before the BOE on Thursday where those responsible for monetary policy are expected to maintain the rates. The recent disappointments in the data have led to an adjustment in the expectations for the BOE, incorporating slightly more relief towards the end of the year, with the markets now assessing almost two cuts of 25 basic points (BPT).”
“The GBP/USD is still well supported while continuing to new maximums of several years. The RSI is bullish but is far from overcompra levels, and there are no significant levels of resistance before 1,3750. We seek short -term support around 1,3520 and short -term resistance in the lower range of 1.36.”
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.
