- On Monday, GBP/USD will attract some buyers to 1.3290 at an early European session.
- The couple's positive views of the Bullish RSI indicator are over 100 days.
- The first upside -down barrier can be seen 1.3445; The initial support level is located at 1.3234.
The GBP/USD pair will achieve about 1.3290 on Monday at an early session of Europe. The US dollar (USD) softened the pound of pound sterling (GBP) in the midst of increased economic uncertainty as a result of incorrect trade policy of US President Donald Trump.
According to the daily card, the GBP/USD Bullish outlook remains intact, characterized by a price of more than 100 days of exponential moving medium (mother). The upward impetus is supported by a 14-day relative strength index (RSI) above the centerline near 55.60, which refers to the smallest resistance to the way upside down.
The immediate resistance level rises at the highest level of 1,3445, April 28. Prolonged profits could be seen in the rally to 1.3580, the upper border of the Bollinger strip. The next obstacle, the next obstacle, is at 1.3642, which is the highest year of February 18, 2022.
On the valve side, on April 23, 1.3234 will operate the lowest low level of support. The main level of dispute to look at is 1.3000 psychological levels. The additional negative filter has a 1,2905, 100-day mother, followed by 1.2870, the lower limit of the Bollinger strip.
GBP/USD daily chart
Pound pound sterlings
The pound pound (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most tradable unit in the world of power (FX), which accounts for 12% of all transactions, an average of $ 630 billion a day for 2022 years, respectively. Its main trading pairs are GBP/USD, also known as “cable”, which accounts for 11%FX, GBP/JPY or “dragon”, as traders know (3%), and EUR/GBP (2%). The nail pound liner is released by the English Bank (Boe).
The only most important factor that affects the value of the pound sterling is the monetary policy decided by the Bank of England. Boe is based on his decisions on whether he has achieved his main goal of “price stability” – a constant inflation rate of about 2%. Its main tool to achieve this is the adaptation of interest rates. If inflation is too high, Boe tries to repel it by raising interest rates by making access to credit for people and businesses. This is generally positive for the GBP, as higher interest rates make Britain more attractive to global investors to park their money. If inflation falls too low, this sign is slowing down. In this scenario, Boe is considering lowering interest rates for credit for a credit to borrow more growth in investing in projects.
The data releases the health of the economy and can affect the value of the pound sterling. Such indicators such as GDP, manufacturing and services PMI and employment can all affect the direction of GDP. A strong economy is a good pound sterling. Not only does this attract more foreign investment, it can encourage boes to put up interest rates that directly strengthen the GBP. Otherwise, if the economic data is weak, the pound is likely to fall.
Another important nail pounding data is a trade balance. This indicator measures the difference between what the state earns from its exports and what it spends on imports over a period of time. If the state produces highly coveted exports, its currency will benefit from purely additional demand created by foreign buyers who want to buy those goods. Therefore, the positive balance of net trade strengthens the currency and, on the contrary, to obtain a negative balance.
