FX: Will (GBP) British Pound Strengthen For Good!? GBP/USD Intraday technical analysis and significant key-levels | InstaForex

FX: Credible UK Budget Will Deliver Substantial Fiscal Tightening

Relevance up to 22:00 2022-06-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Exchange Rates 17.06.2022 analysis

 

The short-term outlook turned bearish when the market went below 1.3600. This enhanced the bearish side of the market initially towards 1.3360 then 1.3200 which initiated a temporary bullish movement towards 1.3600 for a final re-test.

The price level of 1.3600 corresponding to the upper limit of the ongoing bearish channel initiated an aggressive bearish movement towards 1.2980 - 1.3000.

The price level of 1.3000 stood a transient Support where a short-term consolidation movement existed. This happened just before two successive bearish dips could take place towards 1.2550 and 1.2160.

Considerable bullish rejection was expressed around 1.2200. However, the pair failed to persist above 1.2550. This was needed to abolish the short-term bullish scenario for sometime.

Instead, a quick bullish movement was executed towards 1.2650 where extensive bearish rejection existed.

The GBP/USD pair remained under bearish pressure to challenge the new low around 1.2150 again which was temporarily bypassed before Immediate bullish rejection could brin the pair back above 1.2150 again.

Bullish persistence above 1.2300 will probably enable further bullish continuation towards 1.2650 where further decisions can be taken.

On the other hand, another bearish visit may be expected to challenge 1.1950 again if sufficient bearish momentum is expressed.

 

Read more: https://www.instaforex.eu/forex_analysis/280669

FX: Credible UK Budget Will Deliver Substantial Fiscal Tightening

InstaForex Analysis

Instant Trading EU Ltd. is the CFD broker regulated by CySec with license number 266/15.

 

Besides CySEC, Instant Trading EU Ltd. is also supervised by the Czech National Bank (CNB), the Slovak National Bank (SNB), and the Polish Financial Supervision Authority (KNF). Consequently, InstaForex has branches in the Czech Republic, Slovakia, and Poland, where it provides support in local languages. InstaForex is a member of the Investor Compensation Fund (I.C.F) which is an additional security for the client's funds. Besides, the broker ensures the Negative balance protection. So, the reliability and trustworthiness of this broker raise no doubts.

 

Instaforex offers access to more than 2,500 instruments (Stocks CFDs, ETFs, IPOs, Indices, Commodities, Forex, Cryptocurrencies, US Synthetic Stocks) and the MT4 and MT5 platforms, trading accounts in EUR, USD, PLN, CZK, GBP.

 

More information at: www.instaforex.eu

Follow InstaForex on:

Twitter | LinkedIn