Fundamental Analysis:
hey traders, my analysis of the UK market indicates that the country is still grappling with high inflation. We have observed a rise in inflation on the previous month to 10.4% in February, and the latest data shows negative PMI and higher CPI than the previous month. Unfortunately, I don't see any signs of a decrease in inflation in the near term for the UK. It's possible that the Bank of England may need to continue increasing interest rates in order to tackle this issue. Despite these challenges, the GBP is currently experiencing strength in the market. However, it's worth noting that this is primarily due to the fact that the USD is sentimentally dovish at present, rather than any inherent strength in the GBP itself. Overall, my analysis suggests that the UK market is facing some significant hurdles in the short term, and traders should be cautious when considering investments in this space.
Technical Analysis: as you can see price had multiple correction on strong resistance, I think price can reach to HH once more before short opportunities gets active,
Targets: 1.22400, 1.22, 1.21200
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hey traders, my analysis of the UK market indicates that the country is still grappling with high inflation. We have observed a rise in inflation on the previous month to 10.4% in February, and the latest data shows negative PMI and higher CPI than the previous month. Unfortunately, I don't see any signs of a decrease in inflation in the near term for the UK. It's possible that the Bank of England may need to continue increasing interest rates in order to tackle this issue. Despite these challenges, the GBP is currently experiencing strength in the market. However, it's worth noting that this is primarily due to the fact that the USD is sentimentally dovish at present, rather than any inherent strength in the GBP itself. Overall, my analysis suggests that the UK market is facing some significant hurdles in the short term, and traders should be cautious when considering investments in this space.
Technical Analysis: as you can see price had multiple correction on strong resistance, I think price can reach to HH once more before short opportunities gets active,
Targets: 1.22400, 1.22, 1.21200
"Don't forget to like"
.
.
.
.
.
.
"Thanks for giving your time to read my article."
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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.