Pound Dollar Long term Analysis
Publish Date : 2019/09/02 - 06:55

The Bank of England Monetary Policy Committee, as expected, did not change interest rates, leaving 0.75%.

Asset purchase facilities remained unchanged at 435 billion euros.

The Monetary Policy Committee has stated that the gradual increase in interest rates is right, but the growth of the global economy and Brexit are necessary for doing it. The level of rates will change with the Brexit news.

The committee has pointed to the escalation of world trade tensions since May and its impact on global activities, and they believed that the weak outlook for growth in the short term is due to uncertainty in Brexit.

GBPUSD fell to its 31-month low of 1.21 at the Asian session. The US dollar fell as much as 25% on Wednesday, as the US Federal Reserve cut interest rates, but market is waiting for further easing policies in the coming months.

Technical: Due to the downtrend in this pair, it can say that it is still under Brexit news pressure, and the price correction to the 1.2600 range is available, so we can see the price growth to 1.2600 target with support 1.2080 and stop loss 1.1980. The currency pair could fall again, or we may see price growth if the UK leaves EU with deal.

Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. Navasangold, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.

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