Event to pay attention to today:
09.01 15:30 EET. USD - Unemployment Rate
GBPUSD:
GBP/USD is holding near 1.34350 after the pound strengthened in early January. Investors are waiting for key US labor-market data, which directly affects expectations for the Federal Reserve’s rate path and, consequently, demand for the dollar.
The pound has been supported by improved market sentiment and a reduction in domestic risks, but upside potential is limited by expectations for Bank of England policy: discussion of a possible rate cut in the first quarter is restraining buyers. Market participants are also watching UK output and business-activity data to gauge how sustainable the recovery is.
If US data comes in strong, the dollar typically gains the upper hand. Therefore, the base scenario for today is to sell the pair with a protective stop above current fluctuations and a target below current levels.
Trading recommendation: SELL 1.34350, SL 1.34650, TP 1.33450
09.01 15:30 EET. USD - Unemployment Rate
GBPUSD:
GBP/USD is holding near 1.34350 after the pound strengthened in early January. Investors are waiting for key US labor-market data, which directly affects expectations for the Federal Reserve’s rate path and, consequently, demand for the dollar.
The pound has been supported by improved market sentiment and a reduction in domestic risks, but upside potential is limited by expectations for Bank of England policy: discussion of a possible rate cut in the first quarter is restraining buyers. Market participants are also watching UK output and business-activity data to gauge how sustainable the recovery is.
If US data comes in strong, the dollar typically gains the upper hand. Therefore, the base scenario for today is to sell the pair with a protective stop above current fluctuations and a target below current levels.
Trading recommendation: SELL 1.34350, SL 1.34650, TP 1.33450
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More analytical information and promotions on FreshForex website cutt.ly/LrP6j9qD
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.