FREE VIP SIGNAL SELL SOON* GBP/USD The GBP has been the | Focal Community Group (FXSignals)

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SELL SOON* GBP/USD

The GBP has been the strongest currency during European trading and was boosted by a surprising strong PMI (manufacturing) reading. I believe that the current strength will not last long, despite the expectation of a monetary policy shift by the BoE, which is likely to support the GBP at the end of Q4. About 5% of UK workers are still on the pandemic-era furlough program, which expires on Thursday. While a large proportion of them will return to work, others will stay away for various reasons. It remains uncertain what the consequences will be. The gasoline crisis also remains, although about 3/4 of the country's gas stations are operating again. Queues at gas stations remain long, however, and it will take weeks for the situation to return to normal. In the meantime, energy prices continue to rise. Supply shortages remain, and prices will continue to rise due to the shortage of truck drivers. The Brexit issue also remains - especially between the UK and France. It's a never-ending story over fishing rights and Northern Ireland protocol. Falling US Treasury yields have weakened the USD, but I expect the release of the Core Personal Consumption Expenditure Index (12:30 GMT) to show that inflation remains high - increasing pressure on the Fed to act. I also believe that concerns about the US debt ceiling are overblown - eventually policymakers will act together to avoid massive damage to the US economy.

*I expect the GBP/USD to find increasingly more resistance in the range 1.35400 - 1.35600.

Try to get in as HIGH as possible.

Signal delayed by ~ 20 minutes
(non-delayed signals in VIP group).


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