Fundamental analysis:
The UK is currently experiencing challenging economic conditions characterized by high inflation at 9.2% and unemployment rising to 3.7%. In addition, the rate of domestic production has decreased by -0.3%, which indicates a decrease in overall economic growth. However, this trend may be reversed through a combination of measures, including interest rate hikes, increased exports relative to imports, and other strategic fiscal decisions.
Technical analysis:
Upon analyzing the recent price action of GBP/USD , we can observe that it has returned to the range zone, which indicates a potential period of consolidation. This means that the price may trade within a narrow range before exhibiting more bearish signals and trending downwards.
Based on the current market conditions, it is likely that GBP/USD will continue to consolidate within this range zone for some time before any significant movements occur. However, once the price starts to show more bearish signals, it may be a good opportunity to enter a short and long positions.
Targets: 1.22200, 1.23
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The UK is currently experiencing challenging economic conditions characterized by high inflation at 9.2% and unemployment rising to 3.7%. In addition, the rate of domestic production has decreased by -0.3%, which indicates a decrease in overall economic growth. However, this trend may be reversed through a combination of measures, including interest rate hikes, increased exports relative to imports, and other strategic fiscal decisions.
Technical analysis:
Upon analyzing the recent price action of GBP/USD , we can observe that it has returned to the range zone, which indicates a potential period of consolidation. This means that the price may trade within a narrow range before exhibiting more bearish signals and trending downwards.
Based on the current market conditions, it is likely that GBP/USD will continue to consolidate within this range zone for some time before any significant movements occur. However, once the price starts to show more bearish signals, it may be a good opportunity to enter a short and long positions.
Targets: 1.22200, 1.23
"Don't forget to like"
.
.
.
.
.
.
"Thanks for giving your time to read my article."
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Related publications
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.