The GBPUSD currency pair is located between the EMA200 and EMA50 on the 4-hour timeframe and is moving in its ascending channel. In case of a downward correction of the currency pair, we can buy this currency pair within the specified demand zone.
If the upward trend continues due to the release of today's economic data, we can see the supply zone and sell within that range with an appropriate reward for the risk.
According to Bloomberg, the UK is likely to face repeated technical recessions after a decline in its economic growth potential, which has left the economy more vulnerable to growth shocks. Analyses indicate that the UK’s trend growth rate—the maximum rate at which the economy can sustainably grow without causing inflation—has dropped from an annual average of 2.5% between 1955 and 2009 to just 1.2% in the coming years.
The UK’s Chancellor of the Exchequer, Rachel Reeves, stated that recent movements in the bond market were not directed against the UK. She added that, based on bond yield trends this year, the UK is in alignment with its peers. Reeves emphasized the need for patience, as there are still two months left until the Office for Budget Responsibility delivers its forecasts. She expressed confidence in the ability to boost growth figures and mentioned that, if necessary, new fiscal measures would be announced on March 26. However, Goldman Sachs predicted that the Bank of England would cut interest rates six times by next year, citing the UK’s entry into a recession.
Meanwhile, Donald Trump questioned Federal Reserve Chair Jerome Powell’s decisions on interest rates, stating that he plans to speak with the central bank’s head “at the right time.” Trump remarked, “I think I understand interest rates much better than they do, and certainly better than the person who is primarily responsible for making these decisions.”
Key Points from Trump’s Virtual Speech at Davos:
• Government spending has exceeded projections by $1.5 trillion.
• The United States has experienced the highest inflation in its history.
• America has the largest oil reserves in the world and will utilize them.
• The U.S. will become the global capital of AI and digital currencies.
• Congress will pass the largest tax cuts in American history.
• If you don’t manufacture your products in the U.S., you will absolutely pay tariffs.
• If oil prices drop, the war between Russia and Ukraine will immediately end.
• I want interest rates to be reduced immediately!
If the upward trend continues due to the release of today's economic data, we can see the supply zone and sell within that range with an appropriate reward for the risk.
According to Bloomberg, the UK is likely to face repeated technical recessions after a decline in its economic growth potential, which has left the economy more vulnerable to growth shocks. Analyses indicate that the UK’s trend growth rate—the maximum rate at which the economy can sustainably grow without causing inflation—has dropped from an annual average of 2.5% between 1955 and 2009 to just 1.2% in the coming years.
The UK’s Chancellor of the Exchequer, Rachel Reeves, stated that recent movements in the bond market were not directed against the UK. She added that, based on bond yield trends this year, the UK is in alignment with its peers. Reeves emphasized the need for patience, as there are still two months left until the Office for Budget Responsibility delivers its forecasts. She expressed confidence in the ability to boost growth figures and mentioned that, if necessary, new fiscal measures would be announced on March 26. However, Goldman Sachs predicted that the Bank of England would cut interest rates six times by next year, citing the UK’s entry into a recession.
Meanwhile, Donald Trump questioned Federal Reserve Chair Jerome Powell’s decisions on interest rates, stating that he plans to speak with the central bank’s head “at the right time.” Trump remarked, “I think I understand interest rates much better than they do, and certainly better than the person who is primarily responsible for making these decisions.”
Key Points from Trump’s Virtual Speech at Davos:
• Government spending has exceeded projections by $1.5 trillion.
• The United States has experienced the highest inflation in its history.
• America has the largest oil reserves in the world and will utilize them.
• The U.S. will become the global capital of AI and digital currencies.
• Congress will pass the largest tax cuts in American history.
• If you don’t manufacture your products in the U.S., you will absolutely pay tariffs.
• If oil prices drop, the war between Russia and Ukraine will immediately end.
• I want interest rates to be reduced immediately!
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.
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.