GBP/USD: Last Week’s Rally Mainly Technical Driven; Break Of 1.4345 Key S/T – Danske


The pound advances higher and higher and flirts with the post-Brexit highs. What’s next?

Here is their view, courtesy of eFXdata:

Danske Research discusses GBP outlook, and notes that the rally seen last week in GBP/USD seems to be mainly technical driven and in the short term, it will require a clear break of 1.4345 in to maintain momentum. 

“This week’s data prints out of the UK are likely to support the case for a BoE hike in May as we look for higher wage growth and higher core inflation.

However, the market is already pricing in an 80% probability of a bank rate hike in May, and we still think it’s a bit too early to increase expectations,” Danske argues.

For lots more FX trades from major banks, sign up to eFXplus

By signing up to eFXplus via the link above, you are directly supporting Forex Crunch.

Get the 5 most predictable currency pairs

About Author

Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

Comments are closed.