Global macro overview for 24/05/2015
May 24, 2016 10:10 amVideo
Latest News
- Euro will return to parity April 12, 2024
- Trading Signals for ETH/USD (Ethereum) for April 12-15, 2024: buy above $3,435 (3/8 Murray – 200 EMA) April 12, 2024
- EUR/USD. Analysis for April 12th. The euro falls down under the pressure of the news background April 12, 2024
- GBP/USD. Analysis for April 12th. A significant event: the pound fell below the 25-figure April 12, 2024
- Trading Signals for EUR/USD for April 12-15, 2024: buy above 1.0620 (-2/8 Murray – rebound) April 12, 2024
- GBP/USD: trading plan for the US session on April 12th (analysis of morning deals). The pound followed the euro April 12, 2024
- EUR/USD: trading plan for the US session on April 12th (analysis of morning deals). The euro continues to fall April 12, 2024
- EUR/USD and GBP/USD: Technical analysis on April 12 April 12, 2024
- EUR/USD: Dovish signals from the ECB and rising PPI April 12, 2024
- EUR/USD. April 12th. ECB meeting: confidence in rate cut increased in June April 12, 2024
- GBP/USD. April 12th. British economy continues to stagnate April 12, 2024
- Analysis and trading tips for EUR/USD on April 12 (US session) April 12, 2024
- Analysis and trading tips for USD/JPY on April 12 (US session) April 12, 2024
- Analysis and trading tips for GBP/USD on April 12 (US session) April 12, 2024
- Weekly Forex Outlook: 12/04/2024 – More inflation data on the way as rate cut bets in disarray April 12, 2024
- Technical Analysis – GBPUSD ticks down to new 5-month low April 12, 2024
- Bitcoin holds above $70,000 as halving event looms – Crypto News April 12, 2024
- Week Ahead – More inflation data on the way as rate cut bets thrown into disarray April 12, 2024
- Bitcoin will thrive during supply crisis April 12, 2024
- Technical Analysis – EURUSD plummets after US CPI and ECB decision April 12, 2024
Global macro overview for 24/05/2016:
Bank of England Governor Mark Carney recent speech regarding the Brexit scenario turned out to be positive for the pound in the short term. As Carney said, all MPCs and FPCs share the view on potential impact of Brexit and it is still the largest domestic risk for the British economy. This is why, the campaign to keep Britain in the European Union is gaining strength as the latest poll revealed that older voters are now switching sides. Nevertheless, the national referendum is due on 23rd of June and all investors are looking forward for the outcome as uncertainty is growing.
Let’s now take a look at the GBP/USD technical picture in 4H time frame. The recent rally has been capped almost at the 78% Fibo at the level of 1.4674 and from now on this level is labeled as a lower high. Bulls and bears are still not sure what direction should this pair move, so the current technical picture is a classic range-bound market. The most important resistance is at the level of 1.4770 and the most important support at the level of 1.4330.
The material has been provided by InstaForex Company – www.instaforex.com
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