GBPUSD‘s range trading pattern, mentioned yesterday, failed to repeat. Prices rebounded only to as far as 1.354 yesterday. This morning, the rate dipped below 1.3500 for the first time since 3-Jan.
What now? Will this support hold? The bundle of UK macro stats released today did not help sentiment much. Neither is the ongoing Brexit negotiation. However, we did notice that the rate rebound strongly from this floor over the past hour. Watch for continue sideways trading, though at a lower range.
Jackson has over 10 years experience as a financial analyst. Previously a director of Stockcube Research as head of Investors Intelligence providing market timing advice and research to some of the world largest institutions and hedge funds.
Expertise: Global macroeconomic investment strategy, statistical backtesting, asset allocation, and cross-asset research.
Jackson has a PhD in Finance from Durham University.