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01.02.201909:09 Forex Analysis & Reviews: Forecast for GBP/USD on February 1, 2019

Long-term review

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GBP/USD

Yesterday, the British pound did not withstand the dollar pressure of almost all markets - it fell against the dollar currency, cheaper precious metals, raw materials and agricultural products were declining. US government bonds are actively buying up; their yields (as a whole) have been falling for the 4th consecutive day. In general, the market is preparing for massive buying up of US debt as soon as the national debt limit is raised. The Treasury has already announced $365 billion in the first quarter. Taking into account that January simply fell out of this plan (net attraction amounted to 42 billion), the increase in the remaining time will be simply unprecedented. And this is an additional strong factor in the increased demand for dollars.

On the four-hour chart, the price this morning is trying to consolidate below the Krusenstern line (blue indicator). We look forward to reducing the pound to support the price channel line of the daily chart at 1.3010. In the event of a price going below the level, a decline to the Krusenstern line on the daily chart is likely - 1.2880.

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