Breaking news:
All you need in Forex
story by: HotForex
9 August GBPUSD technical analysis
09/08/2017
9 August GBPUSD technical analysis

Cable has gained back some of the ground after sliding across-the-board yesterday. What does 9 August GBPUSD technical analysis from HotForex tell us?

9 August, AtoZForex A risk-off sentiment supported the yen and Swiss franc as safe haven currencies and assets came into demand amid an escalation in threatening rhetoric between North Korea and the U.S, with Trump promising Pyongyang “fire and fury.

9 August GBPUSD technical analysis

Sterling picked up some demand after drifting lower across-the-board yesterday. Moreover, the demand has lifted Cable back above 1.3000 after logging a three-week low at 1.2952. In addition, the UK production data, out tomorrow, is likely to be lackluster. While fundamental Brexit uncertainties will remain, something which the BoE highlighted last week as curtailing business investment decisions.

Furthermore, the UK retail sales were strong in July, according to the British Retail Consortium (BRC).The BRC expressed some caution, noting a “shrinking pool of discretionary consumer spending power,”. Thus, the BRC has highlighted the negative real income trend, which was mentioned as a concern in the BoE’s guidance last week. Also, elsewhere Swiss unemployment held steady at a seasonally adjusted 3.2% as expected.

The article about 9 August GBPUSD technical analysis was written by Stuart Cowell, the Senior Market Analyst at HotForex.

Disclaimer

This article about 9 August GBPUSD technical analysis is provided as a general marketing communication for information purposes only.  It does not constitute an independent investment research. Nothing in this communication contains an investment advice or an investment recommendation. It also does not contain a solicitation for the purpose of buying or selling of any financial instrument.

All information comes from reputable sources. Any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable.

We assume no liability for any loss arising from any investment made based on the information provided in this communication.

(51)

Share via Twitter Share via Facebook Share via LinkedIn Share via Google Plus

Subscribe to AtoZ Forex exclusive updates!