For Traders

Analytical Reviews

Technical analysis

07.08.201815:31 Forex Analysis & Reviews: Forecast for GBP / USD as of August 7, 2018

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

GBP / USD

For the fall of the British pound on Monday by 60 points were very good reasons. More precisely, the reason was and remains one, a high risk (60% according to the Ministry of Trade) of the exclusion of a trade deal with the EU. Even Theresa May said that it's better to leave the EU without an agreement than to go out with a bad agreement. But the current situation is that the absence of a deal is also a bad deal, as the UK's obligations to the EU for "divorce" are not canceled. The pound was fixed at an important technical level of 1.30 and now it may decrease medium-term until the EU deigns to conclude a "good deal". In the near future, the pound may receive support from good GDP data and other indicators that appear on Friday. Well, while we are waiting for the pound sterling at the nearest target of 1.2790, the support of the downward price channel.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.