The sterling pound (GBP) rises 0.2% against the US dollar (USD), trying to stabilize in the middle of 1.34 after an aggressive setback since its maximum of several years on July 1, they report the head strategists of Scotiabak, Shaun Osborne and Eric Theoret.
The RSI is slightly bassist just above 40
“There have been no important data publications and market participants are waiting for the publication of the IPC on Wednesday as the next important event risk. It is unlikely that the publication will change the expectations for the BOE, where markets are valuing a 25 basic points cut at the next meeting of August 7. The recent communication of the BOE has been moderate, with a specific approach to concerns related to the labor market.“
“The last setback seems to have had difficulty extending a lot below the MA of 50 days (1,3501), a medium -term support level. The RSI is slightly bassist just above 40 and we expect a limited short -term range between 1,3400 support and the resistance of 1,3520.”
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.
