Point to consider
1. The BoE tapers only the pace of purchase but not the total target to be purchased.
2. Post-Brexit economic data coming in for the coming months.
3. US terrible NFP data. The FED was right of delaying tapering.
GBPUSD looks bullish for the coming months. This is fueled by a week dollar and a stronger British economy due to a better vaccine campaign and smooth Brexit transition. British GDP data shows recovery better than the US. BoE projections improved to a 21.5% from a 17.6% growth.
US Fed still holding tapering of until early 2022. With the NFP data, it seems that US recovery is not as fast as we thought it to be.
On the technicals, price is hugging weekly high with signs of accumulation. Try to enter near 1.4 with a stop below 1.38 area. Measured move until next quarter is 1.45
1. The BoE tapers only the pace of purchase but not the total target to be purchased.
2. Post-Brexit economic data coming in for the coming months.
3. US terrible NFP data. The FED was right of delaying tapering.
GBPUSD looks bullish for the coming months. This is fueled by a week dollar and a stronger British economy due to a better vaccine campaign and smooth Brexit transition. British GDP data shows recovery better than the US. BoE projections improved to a 21.5% from a 17.6% growth.
US Fed still holding tapering of until early 2022. With the NFP data, it seems that US recovery is not as fast as we thought it to be.
On the technicals, price is hugging weekly high with signs of accumulation. Try to enter near 1.4 with a stop below 1.38 area. Measured move until next quarter is 1.45