Macro knowledge from the UK revealed earlier this week failed to offer tangible assist for the pound. Thus, the quantity of client lending in January fell from 0.817 billion to 0.608 billion kilos (the forecast assumed a rise to 1.05 billion kilos). On the identical time, regardless of the expansion of the Markit index of enterprise exercise within the manufacturing sector in February (to 58.0 from 57.3 in January) and the BRC retail value index within the UK (in January the indicator elevated by +1.5% to +1.8%), the GBP/USD pair reached a brand new 10-week native low close to 1.3270 yesterday.
The primary dynamics within the GBP/USD pair remains to be set by the greenback. Traders are inclined to purchase it as a protected haven forex, fearing additional escalation of tensions round Ukraine, whereas Western international locations impose financial sanctions in opposition to Russian corporations and people.
Assist ranges: 1.3365, 1.3300, 1.3275, 1.3190, 1.3100, 1.2950
Resistance ranges: 1.3400, 1.3430, 1.3495, 1.3560, 1.3640, 1.3700, 1.3745, 1.3900, 1.3970, 1.4000
see additionally -> TRADING RECOMMENDATIONS
*) probably the most up-to-date “scorching” analytics and buying and selling suggestions (together with entries into trades “by-the-market”) – https://t.me/fxrealtrading
