Currency market. Pound will resume growth

By | January 29, 2017

At the pound has demonstrated its resistance last week. Regarding Brexit procedures appeared certainty, and it has support for the currency. If more and Theresa May and Donald Trump will be able to negotiate a bilateral trade agreement, only added to the positive. And to achieve this agreement, as a whole, it is quite probable.

Next week will be another meeting of the Bank of England. Changes in monetary policy is not worth the wait. To further stimulate the economy there is no particular reason. In the 4th quarter according to preliminary data, it grew by 2.2%. In addition, the weakening of the pound has provoked rising inflation. All this allows us to count on the fact that the Central Bank’s comments will not be too soft, which means that the pound will continue to rise.

Correction of the last two days, offers good opportunities for shopping. The aim of the movement GBP / USD pair will be the level of 1.2680. In case of its breakthrough growth will continue up to the mark 1.2730.

Warning: Profitability in the past does not mean profitability in the future. Any projections are for information only and does not guarantee a result.

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