empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

08.11.201905:56 Forex Analysis & Reviews: Forecast for GBP/USD on November 8, 2019

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

The British pound lost 34 points yesterday on the news that two members of the Bank of England Monetary Policy Committee voted to lower the rate. The head of the BoE, Mark Carney, hastened to assure the investment community that the regulator would not change policy until there was so much uncertainty in the world, the rate could be lowered in the future for three years, and the central bank's economic forecasts, although weak, were all due to Boris Johnson's Brexit scenario. The BoE lowered next year's GDP from 1.3% to 1.2%. And even in the event of a "hard" Brexit, the regulator will not rush to adjust, preferring to wait for the reaction of the economy.

Exchange Rates 08.11.2019 analysis

The pair quotes went below the signal level of 1.2840, the signal line of the Marlin oscillator, as we expected, at the same moment has crossed the boundary of the bear territory. Target levels can be taken sequentially: 1.2748 (October 17 low), 1.2703 (October 11 high), 1.2650 (October 14 high).

Exchange Rates 08.11.2019 analysis

On the four-hour chart, a decrease in the price is expected for all indicators, there are no signs of a reversal or deep correction.

Laurie Bailey
Analytical expert of InstaForex
© 2007-2024

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.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off