Buy the cheaper pound while others are afraid – Westpac
July 17, 2019 10:24 pmVideo
Latest News
- Analysis of EUR/USD pair on May 24, 2024 May 24, 2024
- Analysis of GBP/USD pair on May 24th. Another British report showed weakness, but who cares? May 24, 2024
- USD/JPY: Simple trading tips for novice traders on May 24th (US session) May 24, 2024
- GBP/USD: Simple trading tips for novice traders on May 24th (US session) May 24, 2024
- EUR/USD: Simple trading tips for novice traders for May 24th (US session) May 24, 2024
- GBP/USD: trading plan for the US session on May 24th (analysis of morning deals). Sellers missed 1.2700 May 24, 2024
- EUR/USD: trading plan for the US session on May 24th (analysis of morning deals). The euro is not going to give up May 24, 2024
- EUR/USD. May 24th. The bears are starting to go on the offensive May 24, 2024
- Forecast of GBP/USD pair on May 24, 2024 May 24, 2024
- Trading Signals for EUR/USD for May 24-28, 2024: sell below 1.0864 (200 EMA – 21 SMA) May 24, 2024
- Trading Signals for GOLD (XAU/USD) for May 24-28, 2024: buy above $2,333 (200 EMA – oversold) May 24, 2024
- Weekly Forex Outlook: 24/05/2024 – US PCE inflation and Eurozone CPI data enter the spotlight May 24, 2024
- Technical Analysis – Is the pause in NGAS a warning signal? May 24, 2024
- Technical Analysis – USDCAD eases slightly after bullish rally May 24, 2024
- Week Ahead – US PCE inflation and Eurozone CPI data enter the spotlight May 24, 2024
- Technical Analysis – GBPJPY continues its journey north May 24, 2024
- Video market update for May 24, 2024 May 24, 2024
- Forex forecast 05/24/2024: EUR/USD, GBP/USD, USD/CAD, Gold and Bitcoin from Sebastian Seliga May 24, 2024
- USD/JPY: trading tips for beginners for European session on May 24 May 24, 2024
- GBP/USD: trading tips for beginners for European session on May 24 May 24, 2024
The rate of the British currency against the euro reached its lowest level since January this year.
Westpac experts believe that now is the time to buy the pound.
They recommend selling EUR/GBP from 0.9085 with the target at 0.8845 and a stop at 0.9125.
The bank’s strategists note that a combination of factors speaks in favor of a short position in the pair.
“Hysteria regarding Brexit without a deal seems to have reached its climax. The British Prime Minister candidates, Boris Johnson and Jeremy Hunt, added fuel to the debate, but these were the last, and when one of them heads the government, it will be forced to act more carefully to gain the support of parliamentarians. The need to support the deputies also gives reason to think that the fears regarding the “cleansing” of the Cabinet of Ministers from the supporters of the preservation of the country in the EU risk being excessive,” the experts said.
“The European Central Bank (ECB) is also capable of reducing EUR/GBP, which will meet next week on July 25. According to its results, we can expect to soften the rhetoric of the regulator, which will strengthen expectations regarding the weakening of the monetary rate, which implies a reduction in the deposit rate, which is already negative, or the resumption of asset purchases,” they added.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: