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GBP/USD Yesterday, the British pound slumped, outpacing other currencies, ahead of the upcoming Bank of England meeting (on May 9th). The price can now reach the target support at 1.2465.
Forecast for AUD/USD on May 8, 2024
AUD/USD On May 3, 6, and 7, the Australian dollar broke above the resistance level of 0.6627 with the upper shadows of daily candles and, since this is a strong.
Outlook for GBP/USD on May 8. The pound has stopped rising, but the Bank of England meeting could change that
GBP/USD experienced a minor downward retracement, but this did not affect the overall technical picture. The price settled below the critical Kijun-sen line, but the upward trend persists.
Outlook for EUR/USD on May 8. Another boring day
EUR/USD did not show any interesting movements on Tuesday. The pair has been trading in a sideways channel for the third consecutive day, bounded by levels of 1.0757 and 1.0797.
Analysis of GBP/USD pair on May 7th. The market fluctuates, and the British currency holds steady
The wave analysis for the GBP/USD pair remains quite complex. A successful attempt to break the Fibonacci level of 50.0% indicated the market's readiness to build a downtrend wave.
USD/JPY: Simple trading tips for novice traders on May 7th (US session)
Trade analysis and tips for trading the Japanese yen The test of the price at 154.13 in the first half of the day occurred when the MACD indicator had dropped.
GBP/USD: trading plan for the US session on May 7th (analysis of morning deals). Pound attempts to be bought
In my morning forecast, I paid attention to the level of 1.2529 and planned to make decisions on market entry based on it. Let's look at the 5-minute chart.
JPY tightens its grip on USD
The Bank of Japan has greatly scared speculators on the USD/JPY pair. No matter how concerned the US is about currency interventions and no matter what the market says that.
Demand for USD remains stable
After Friday's surge, the Euro and the pound sterling are losing momentum as the fuel for the growth of risky assets is gradually running out, and there.
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This section is updated daily and contains market analysis prepared by professional analysts on behalf of InstaForex. Each of the specialists presents analytical reviews in accordance with his/her vision of the current situation on the foreign exchange and other markets. However, the outlooks below are neither recommendations nor instructions to any actions. They contain analysis of the current situation on financial markets. In some cases, analysts' opinions about current market conditions may differ.