Dashboard

Solid News

GBPUSD Market Update

12/9/2022 11:47 AM

The pound is showing a neutral trend, while the GBP/USD pair rises slightly, trading at 1.2272 due to a downtrend in the US dollar.

According to a survey of monetary policy experts published yesterday by Reuters, the Bank of England will raise interest rates by 50.0 basis points on December 15, bringing it to 3.50%. There is a possibility of a more significant indicator correction, but analysts believe the regulator will not dare to take such radical steps before Christmas. Economists are predicting an imminent recession in the UK: Q4 gross domestic product (GDP) may decrease by 0.4%, followed by similar reductions in the first two quarters of 2023. Investors reacted negatively to the November value of the mortgage rate, which now stands at 5.88% instead of 5.41% a month earlier, which will hurt the real estate market soon.

Yesterday the quotes of the US dollar fell to 104.500 in the USD Index against the background of an increase in the number of initial applications for unemployment benefits to 230.0K from 226.0K a week earlier, which led to an increase in the total number of citizens receiving assistance from the state, to 1.671M from 1.609M, although analysts expected a decrease to 1.600M.


The daily chart shows the trading instrument moving within the local ascending channel near the resistance line.

Technical indicators maintain a buy signal: the range of fluctuations of the EMA on the Alligator indicator expands, and the AO oscillator's histogram forms rising bars in the buying zone.

Resistance levels: 1.2344, 1.2656. | Support levels: 1.2126, 1.1773.

Find Us
Registered Address : Bonovo Road – Fomboni Island of Mohéli – Comoros Union
Sofia, PO Box 1407,14 Flip Kutev Str. Floor 2, Industrial area Hladilnika, Bulgaria
Mail Us
[email protected]
Call Us
+35 924 928 392


Risk Warnings
Solid ECN Securities LLC offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.
Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
By using solidecn.com you agree to use our cookies to enhance your experience.
Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.
Disclaimer 1: The information provided on this site is not intended for residents of any country or jurisdiction where its distribution or use would violate local laws or regulations.
Disclaimer 2: Solid ECN Securities LLC and it affiliates does not provide services to residents of the USA, Japan, Canada, Australia, the Democratic Republic of Korea, European Union, United Kingdom, Iran, Syria, Sudan and Cuba.
Copyright All Right Reserved 2024 SolidECN.com