Jan-March 2021 Target 1.06
Risk to the upside limited, with careful entry.
Pair is in a 15 year bearish decline, but currently positioned in the upper 1/3 of the channel. The U.K. has forecast anemic growth this year, and telegraphed no intention to raise rates any time soon. Adding to this the continued uncertainty about the fallout of the actual Brexit, GBP will lose ground against both the EUR and USD.
In opposition the USA has forecast positive GDP growth this year, around 2%. Modest wage increases will add to inflation concerns and put upward pressure on rates and the dollar.
Disclaimer:I am short from 1.32. I trade for fun and to help keep me interest in global economics. Do not trade based on my opinion, do your own work. If we happen to generally agree it would be great to hear from you, especially if you are seeing something slightly different.
Risk to the upside limited, with careful entry.
Pair is in a 15 year bearish decline, but currently positioned in the upper 1/3 of the channel. The U.K. has forecast anemic growth this year, and telegraphed no intention to raise rates any time soon. Adding to this the continued uncertainty about the fallout of the actual Brexit, GBP will lose ground against both the EUR and USD.
In opposition the USA has forecast positive GDP growth this year, around 2%. Modest wage increases will add to inflation concerns and put upward pressure on rates and the dollar.
Disclaimer:I am short from 1.32. I trade for fun and to help keep me interest in global economics. Do not trade based on my opinion, do your own work. If we happen to generally agree it would be great to hear from you, especially if you are seeing something slightly different.
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.