Usd british pound12/31/2023 The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. Important Disclaimers The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. Ultimately, the market will probably continue to be bullish, but we are getting a little stretched so don’t be surprised at all if you see some type of short-term turnaround.Īs far as selling is concerned, I would need to see the massive trendline broken, something that we are nowhere near doing, and therefore it’s not even a thought at this point.įor a look at all of today’s economic events, check out our economic calendar. I don’t expect to see this changing anytime soon, and therefore I remain bullish of this pair. I believe it is probably obvious at this point that the US dollar is on its back foot, and it’s obvious also that the British pound has been very strong. Because of this, I think that it is only a matter of time before we see value hunters come in on those pullbacks, and therefore I have no interest in shorting this pair. Keep in mind that the US dollar might be the biggest mover, and therefore I anticipate that the market may continue to go higher, perhaps as high as the 1.3250 level, maybe even the 1.35 level. “Market memory” comes into the picture here, so with that being the case I think you’ve got a situation where the market will find itself testing the resolve of the overall bullish pressure. The 1.30 level will continue to be an area of intense focus, as it is a large, round, psychologically significant figure, and of course an area that just offered a significant amount of resistance. However, this is the scenario where the market will continue to go higher given enough time and therefore I think you will eventually see value hunters coming in to pick up this market. A short-term pullback should offer buying opportunities, and I do think that you would get those occasionally.
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