➡️ The pound has gained ground in the fourth and first quarters on expectations that the Bank of England (BoE) will quickly appreciate this year. However, analysts note that high energy prices and the weakening of the hawkish stance of the Bank of England are strong headwinds for the pound's outlook. Also, the lack of progress in the conflict between Russia and Ukraine may delay the rally in the markets and make attempts to restore the GBPUSD a thing of the past. The US economic report will not contain any important data on Monday, and risk appetite should continue to influence the behavior of the GBPUSD. Meanwhile, data released by the UK Office for National Statistics today showed that the British economy grew by 0.1% on a monthly basis in February. Although this report fell short of analysts' forecast of 0.3%, market reaction was largely muted.
Technically it is supposed to approach the level 1.30000, which is an important psychological level. The long scenario assumes a false breakout by one or more candles. The target in this case will be the level 1.31320. On a more global scale, the target will be located at the level of 1.32990.
Of course, closing under the level of 1.30000 and fixing the price under this support will force us to consider shorts. However, this scenario is now unlikely.
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👇🔥LINKS TO PREVIOUS IDEAS AND FORECASTS🔥👇
Technically it is supposed to approach the level 1.30000, which is an important psychological level. The long scenario assumes a false breakout by one or more candles. The target in this case will be the level 1.31320. On a more global scale, the target will be located at the level of 1.32990.
Of course, closing under the level of 1.30000 and fixing the price under this support will force us to consider shorts. However, this scenario is now unlikely.
➖➖➖➖➖➖➖
👍Thanks for your comments and likes👍
👇🔥LINKS TO PREVIOUS IDEAS AND FORECASTS🔥👇
