flag-gb flag-my flag-zh flag-id flag-th flag-vi

The GBP / USD pair cannot yet gain a foothold above 1.39

The GBP / USD pair is declining on Tuesday amid the strengthening of the dollar, but the fundamental background for the currency pair remains mixed. The American currency remains vulnerable after the publication of unexpectedly weaker PMI data for the manufacturing sector for April. Slower manufacturing activity could indicate that the US economic recovery will be uneven and slow despite strong stimulus measures.

Additional pressure on the dollar may be exerted by the dynamics of the movement of the American Treasuries. The yield on securities is declining.

In the UK today, the focus will be on manufacturing PMI data. Data is expected at the level of preliminary values ​​- 60.7 points.

Bullish signals predominate locally on the chart. The currency pair tested intraday support at 13870. From the current levels, we can expect the development of an upward movement with a target at 1.3950.

  • Resistance levels: 1.3950, 1.3980, 1.4000;
  • Support levels: 1.3870, 1.3757, 1.3660.

The main scenario is growth from current levels to 1.3950.

An alternative scenario is a breakdown of the support at 1.3870 and a decline in the direction of 1.3757.

The current fundamental background is neutral. We are considering longs from the level of 1.3870.

Latest news

Deposit Bonus 200%

2021-04-13 10:05:09

Only from April 12, 2021, to May 14, 2021, Deposit Bonus 200% is available for all FortFS clients! Use the advantage to engage for the unique offer within a limited period: activate the deposit bonus and get up to 200% on the deposit amount on your trading account! How to get a Deposit Bonus of […]

Reduced spreads for popular pairs

2021-02-11 15:07:39

FortFS wishes all traders a Happy Chinese New Year! Only from February 8 to March 12, 2021, we reduce spreads for the 4 most popular trading pairs. New values*: EURUSDf: 0.8 GBPUSDf: 0.9 USDJPYf: 1.0 XAUUSDf: 3.5 *These values are valid only for FLEX accounts Hurry up to take advantage of the offer! Learn more about spreads: https://www.fortfs.com/clients/specifications