empty
 
 
10.07.2019 06:24 AM
Forecast for GBP/USD on July 10, 2019

GBP/USD

On Tuesday, the British pound fell by 52 points, to the nearest target of 1.2311, defined as the point of intersection of the embedded line of the price channel and the price level of the low on November 20, 2016, there are about 140 points. Important economic data will be released in the UK today, forecasts for which look optimistic, but the technical picture is in conflict with these expectations.

This image is no longer relevant

Industrial production is expected to grow by 1.6% in May against a decline of 2.7% in April, production in the construction sector is expected to increase by 0.4% against -0.4% earlier, GDP for May could expand by 0, 3% versus an economic contraction of -0.4% in April. The trade balance for May is seen to decline from -12.1 billion pounds to -12.5 billion pounds. The expected data is good in that it allows you to avoid a recession in the three-month horizon, even if they do not overlap the deterioration of previous periods.

This image is no longer relevant

On the four-hour chart, the price consolidated below the lower limit of the 1.2480-1.2556 range, while the Marlin oscillator signal line went under the forming convergence line, that is, it was not expected to turn upwards from the technical side. Hence, taking into account the general pessimistic mood of the market relative to the British pound, rumors of a lower BOE rate, the market's response to expected data can be muted, even data can be interpreted as not strong enough to change investor sentiment or the data could turn out worse than predicted.

Therefore, we are waiting for the pound at a target level of 1.2311 in the coming days.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $8000 más!
    ¡En Marzo, sorteamos $8000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback