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21.05.201808:38 Forex Analysis & Reviews: Pound crouched and could not jump

Long-term review

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GBP / USD

On Friday, the British pound fell to the lower boundary of the technical range 1.3450-1.3620 under the total pressure of the US dollar, as the USDX index added 0.20%. The only opportunity to resist this pressure is the prospect of preserving the UK in the EU customs union, but was dispelled by Theresa May herself, who again recalled Britain's strategy on trade agreements. Today, the Rightmove UK home price index for May showed an increase of 0.8%, which did not affect the investors' mood. Tomorrow, there will be data on public sector borrowings for April with a forecast of 7.2 billion pounds against -0.3 billion in March. The UK balance of production orders from CBI for May is expected to decrease from 4 to 2 points. Also, the US business activity index in the manufacturing sector of Richmond will come out on the same day and projected to grow from -3 to 9.

This morning, the price has pushed the lower boundary of the May range (1.3450) and is waiting for the price at 1.3330.

* The presented market analysis is informative and does not constitute a guide to the transaction.

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