The sterling pound (GBP) is weak, falling 0.3% against the US dollar (USD) and quoting in tandem with the EUR in an environment of generalized strength of the USD, says the head of FX strategy of ScotiabankShaun Osborne.
The trend of the GBP/USD remains bullish
“The Libra reached a new maximum at the end of the American session on Monday, reaching levels not seen since February 2022. The domestic publications calendar is limited and the programmed speakers of the BOE will probably generate holders that move the market, given the widely consistent message of relaxation and a cut of 25 basic points fully discounted for the monetary policy meeting of the BOE of May 8.”
“The BOE will also publish a new set of forecasts and will probably provide some initial analysis of US tariffs and their risks to growth and inflation.”
“The bullish trend remains intact and has been reinforced with the pound push towards a new maximum of several years in the 1.34 region. The short -term resistance is expected to be closer to 1,3750, followed by the psychologically important level of 1.40. The short -term support is expected to be in the 1.32 region. The momentum is also upward, with a RSI in the region of 64.”
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.
