News | Forex Optimum

News

News

Further gains still likely in GBP/USD – UOB

In opinion of FX Strategists at UOB Group, further upside in Cable looks likely in the next weeks.

Key Quotes

24-hour view: “We highlighted yesterday that ‘while GBP could strengthen’, we noted ‘overbought conditions suggest a slower pace of advance and a sustained rise above 1.3740 appears unlikely’. Our view was correct as GBP rose to 1.3749 before easing off. Upward momentum is beginning to ease and this coupled with still overbought conditions suggest that GBP is likely to consolidate for today, expected to be within a range of 1.3680/1.3740.”

Next 1-3 weeks: “Yesterday (13 Jan, spot at 1.3705), we highlighted that further GBP strength would not be surprising, albeit likely at a slower pace. We noted the next resistance level is at 1.3740 followed by 1.3800. GBP subsequently rose to 1.3749 before easing off. While there is still room for GBP to advance further, the next resistance at 1.3800 may not come into the picture so soon. On the downside, a breach of 1.3640 (‘strong support’ level was at 1.3620 yesterday) would indicate that the GBP strength that started late last week has run its course.”

You may also be interested:

05:30 24.01.2022
Commodities. Daily history for Friday, January 21, 2022
Raw materials Closed Change, % Brent 86.76 1.39
05:25 24.01.2022
EUR/USD bears take control in a risk-off start to the week
EUR/USD is pressured in a risk-off start to the week.  Russia, the Fed and US data are the standout themes. EUR/USD is under pressure in the opening session for the week and easing off from 1.1345 highs to 1.1332 as risk-off continues on the back of Friday's bearish close on Wall Street. Asian markets are lower on Monday with the Federal Reserve expected to confirm it will soon start draining the massive liquidity that has fulled stock markets for years. 
05:00 24.01.2022
Goldman Sachs sees risk Fed will tighten more than forecast – Bloomberg
Bloomberg came out with the latest analysis from Goldman Sachs to propel hawkish hopes ahead of Wednesday’s Federal Open Market Committee (FOMC) meeting. Key quotes (via Bloomberg) The Goldman Sachs economists led by Jan Hatzius said in a weekend report to clients that they currently expect rates to be increased in March, June, September and December and for the central bank to announce the start of a balance sheet reduction in July. But they said inflation pressures mean that the
Deposit
options
Trading
platform
download
Bonuses VIP