EXNESS - Analytics

    EXNESS

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    GBPUSD: consolidation higher than the 1.4244 level

    Sell on a level breakthrough of 1.4244 with 1.4150 target. Stop loss = 1.4300. 

    Reason for the trading strategy

    The decline in the GBPUSD pair yesterday is due to a strengthening US dollar. The UK inflation statistics for January was in line with the expectations. In particular, a growth of the consumer price index from 0.2% to 0.3% per annum was recorded during the reporting period. Today, the data on unemployment in the UK may support the pound, but the risks of it falling below the level of 1.4244 dollars remain high. 

    GBPUSD, H4


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