GBP / USD
On Monday, the British pound declined by 17 points under the pressure of the old Brexit problems despite the absence of local positive news in the UK. Against the backdrop of the dollar, the pound did not attack the strong support of 1.3203 / 10. This morning, the British currency decided to note the increase since easing continues.
There is no scheduled data in the UK today. While in the US, new bookmarks for May will be released and the growth is predicted from 1.29 million to 1.31 million. A revival in the dollar market may occur, if the pound will be fixed under 1.3203 which may cause increased interest. The investors' expectations about the neutral-predictable meeting of the Bank of England on Thursday indicates the implementation of this scenario and that investors can go ahead but they may not take risks. We are waiting for the pound to fall to this level. The maximum possible growth under current conditions is assumed to be not higher than 1.3362, where the price will hold up the resistance of the balance line (red), from which the price was set on June 16th.
* The presented market analysis is informative and does not constitute a guide to the transaction.
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