Trading signals

GBP/USD

GBPUSD

The Bank of England moved one step closer to a rate cut after a weak inflation data. The lack of progress on Brexit plays against the pound as well.

 

The main scenario assumes a new leg higher through 1.3050. 

An alternative scenario is a decline to the 1.3000 level. 

 

Trading recommendations

 

The pound is at risk of growing to 1.3080 after a break through 1.3050.

A break below the 1.3050-1.3040 region will show room for further downside to 1.3000.

 

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