EXNESS - Analytics

    EXNESS

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    Real

    The pound slips to the 1.4445 level

    Buy on rebound from 1.4445 level with 1.4577 target. Stop loss = 1.4395.

    Reason for the trading strategy

    In December, the volume of industrial production in the UK fell by 1.1% (m/m) with a forecast of a 0.1% (m/m) decline. The news, which was worse than expected, led to a fixing of long positions in the pound.  Furthermore, the continuing sell-offs in the global stock markets force investors to turn towards the defensive assets and towards the dollar, the yen, the euro and the franc as funding currencies. 

    GBPUSD, H1


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