Forex and Market News March-August

Published on: 09/3/18 7:27 AM

Tags: Forex, Forex market, Forex News, Forex trade, FX, Market, Trade

Category: Forex, Market, Trade, Trading, World News

Brittish pound during April and May

The GBP gained much attention during the month of April due to plans for better policies and rates for the Bank of England. The currency had made consistent gains during the final portion of 2017 with inflation at or higher than three percent. Inflation remained the same during this time until around mid April. Falling inflation began to rear its ugly head as evidenced by the numbers produced in March.

Rate decisions took place in May and price action remained around the 1.3500 handle shortly after the decision. The Bank of England continued to raise rates during the beginning of August with little effect on the British pound. In addition, the technical analysis helped to create the 78.6% retracement that made headway in April.

Third week of August

The FX Setups for the week of August 20th proved to be worth looking into. The first target was viewed before resistance and the second target was taken from some swing lows. Sellers noticed that prices during the second area of resistance had begun to move to a lower position.



Financial experts are looking for ways to remain positive during these times. The main reasons behind the bullish setups were rooted mostly in overselling the moves. Price action is something to watch during this process as it can move to a much lower high area. The worry is that the most recent jump may not be what is needed to refresh the emergence of fresh lows. Further study is required in order to see how everything will play out.

IG client sentiment continues to be in GBP/USD in a bearish sort of way. This particular position has been lessened over the past week displaying an increase in the pair. This can create a way for the potential for a move before the long term bearish trend. The purpose is to find out if the British pound is able to sustain itself for the long haul.

The projections for the GBP maybe neutral in the next few days moving forward. The bearish trend is still something to be watched as it is close to the lack of long term resistance. It can be a challenge to continue and should be monitored for more information.

There has been a lot going on in terms of the financial movements of the British pound during the last several months. For more information concerning the British pound and other factors, be sure to stay abreast of these next steps moving forward.