GBP-Pound sterling the pound Sterling Price of the Analysis:
GBP is Bouncing After Last Week’s Support Break
He was a brilliant expenditure of the week the Pound sterling as the currency has just bounced against the us Dollar and the Japanese Yen. The last week has been marked by the weakness of the british pound, as sellers pushed each of these pairs, in reduction of monthly charges low; but there is at least a part of which has been offset this week as both the GBP/USD and GBP/JPY have so far put in the gains, even as the talk of negative interest rates of the BoE have begun to circulate through the news headlines.
This dynamic is not necessarily discounting the prospect of negative interest rates as much as it can be driven by a theme associated with the risk of the markets. As discussed on the theme of Gold and then, u.s. equitiesan interview with Chairman of the FOMC, and Jerome Powell, who was released on Sunday night, has helped add warmth to the current risk rally, and that seems to have taken a toll on the U.S. Dollar and the Japanese Yen is getting hit with another bout or weakness, which has helped to buoy the GBP/USD and GBP/USD.
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In the Cable, and the big question is whether the sellers will react to this next place, or the low-high range, and there are a few places where one can develop From the chart below, the current management has shown around the 38.2% retracement of the march in a major move, and the 50% marker from the same study, it is very close, just above the 1.2300 handle. This is the area made it possible to give a couple of points of support at the end of April, and then again at the beginning of September. In addition, the 61.8% retracement of lines very close to the 1.2500 level, and to produce an element, it is proposed, that can be an ” r2 ” of the resistance zone.
The GBP/USD Four Hours Chart Price
Table prepared by James Stanley; The GBP/USD on Tradingview
— Written by James Stanley, Strategist for DailyFX.com
Contact us and follow James on Twitter: @JStanleyFX