“Trading involves a high risk to the invested capital. Understand all risks before investing”
CFI Palestine doesn’t deal with virtual assets or crypto currencies.
CFI Palestine is regulated by Palestine Capital Market Authority license number (PCMA/CFI/562776930)
GBPUSD, Timeframe: weekly, Tools: SMA 100GBP/USD is declining for a second consecutive week and approaching horizontal support near 1.3170. The pair is down about 1.1% since the start of the week, its biggest weekly drop in roughly two months. Markets are watching how the pound reacts at these levels, since the pair has rebounded from this zone several times and it usually acts as strong support. It also marks the support of a "Diamond Pattern" formation.
The pound's decline comes after the Bank of England held interest rates at 3.75%. That runs against most other central banks, particularly the US Federal Reserve, which raised rates to a range of 3.75%–4%. The Fed's move has lifted the US Dollar Index, and markets expect further hikes. With the dollar rising and the pound falling, we expect significant price moves in the coming period. The direction will depend on how the pound reacts at the support levels near 1.3170.
Disclaimer: The content published above has been prepared by CFI for informational purposes only and should not be considered as investment advice. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell. The information provided does not have regard to the specific investment objectives, financial situation, and needs of any specific person who may receive it, and is not held out as independent investment research and may have been acted upon by persons connected with CFI. Market data is derived from independent sources believed to be reliable, however, CFI makes no guarantee of its accuracy or completeness, and accepts no responsibility for any consequence of its use by recipients.
-1790848069.webp)
-1790754656.webp)
-1790668063.webp)
