EXNESS - Analytics

    EXNESS

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    The weakness of the dollar kept the GBPUSD pair above the level of 1.4375

    Sell on a level breakthrough of 1.4375 with 1.4300 target. Stop loss = 1.4425. 

    Reason for the trading strategy

    In March the volume of the UK industrial production increased by 0.3% (m/m), with a forecast of 0.7% (m/m). The statistics, which turned out worse than expected, did not cause the GBPUSD pair to decline below the level of 1.4375. It was supported by the weakness of the US dollar, which came under pressure against the background of the BRENT oil prices that had grown to 47.6 dollars per barrel. Today the statement made by Mark Carney, the head of the Bank of England, may put pressure on the pound.

     

    GBPUSD, H1

     


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