GBP: staying power

GBP: staying power

2021-04-19 • Updated

Let’s look at what the GBP’s doing today and put things in perspective.

GBP/USD: high rise – short life?

Against the USD, it’s testing the four-week high of 1.39. Technically, it’s already above that level but there is little reason to expect that the pair firmly established itself in that zone. The primary reason for the move of the GBP/USD is the weakness of the USD – not the strength of the pound, and the reason for that weakness is of temporary nature related to the US Treasuries. That’s why traders should expect volatility and a rather quick comeback from the USD. Therefore, looking for reversal short-term patterns to expect a following downswing in the GBP/USD would probably be an appropriate scenario.

GBPUSDH4.png

EUR/GBP: to the February highs - and back down?

On a long-term view, EUR/GBP is completing a tip and going back to fall to 0.85. Currently, the zone where EUR/GBP trades corresponds to the February highs. Recovering the losses in March, EUR/GBP went upwards to touch the zone 0.87-0.8720, and very possibly, that may be the end of the upswing. Therefore, for a mid-term and long-term trading strategy, expecting a drop to 0.85 in the coming weeks seems a very reasonable scenario as the British pound remains considerably strong across the board.

EURGBPDaily.png

                                                                                        LOG IN

Similar

Trade ideas for March 28 - April 1
Trade ideas for March 28 - April 1

Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!

Latest news

UK: No Longer a Leading Economy
UK: No Longer a Leading Economy

The current situation is terrible, and the future is worse for the United Kingdom. Will the British pound withstand the challenges that await the UK economy, or will it collapse?

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera