The GBP price, brexit, news and analysis:
- GBP/USD continues to increase with the ” other “risk on” assets, as hopes persist of a rapid and strong, the global economic recovery.
- For the moment, there are few signs of the rally coming to an end, but no doubt there will be a retracement at some point.
The GBP/USD rally continues
GBP/USD continues to increase with the ” other “risk-on” assets such as shares, brent crude oil, the Euro and the Australian Dollar on the hope that central bank stimulus and an easing or a corona virus lock-in restrictions will allow the global economy to recover quickly from the impact of the pandemic.
In addition, with the pair touching 1.26 in early London trading on Wednesday, there are few signs yet, or is the rally of shortness of breath, despite the street protests in the united states, and the lack of news so far this week of negotiations on the UK-EU relationship after the “brexit” period of transition.
The GBP/USD Price Chart, with the Four-Hour Period (September 15 – April 3, 2020)
Chart provided by the IG (You can click it to enlarge the image)
|
The Change in the |
Long |
Shorts |
BEAUTIFUL |
| Daily | 4% | By 4% | 0% |
| It | Down 16% | -7% | -11% |
There will be a retracement at some point, although there is little indication that one is imminent. However, there is a danger signal, as in the four-hour chart above shows the relative strength index (RSI) now above the 70 level, which suggests that the GBP/USD has been overbought.
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— Written by Martin Essex, an Analyst and Editor
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