empty
 
 
09.11.2018 01:25 PM
Forecast for GBP / USD pair on November 9, 2018

GBP / USD pair

Against the background of yesterday's strengthening of the dollar, with USD index showing 0.47%, investors did not expect with hopes for good news on Brexit but bought a few dollars along with the market. The pound lost 64 points.

Today, the UK expects optimistic GDP data for the 3rd quarter, and this may prevent further decline. The forecast assumes an increase of 0.6% versus 0.4% earlier and the annual growth is expected from 1.2% to 1.5%. Technically, the price may linger on the support of the balance line at the level of 1.3028 on the four-hour chart. Furthermore, the price will meet the support of the MACD trend line for a daily in the area of 1.2975.

This image is no longer relevant

This image is no longer relevant

Nevertheless, the pound is now constantly at risk of unexpected news regarding the Brexit talks, referring to the time of their announcement, and the expected being optimistic.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback