GBP/USD, GBP/EUR, GBP/JPY, EUR/USD, USD/CNY, DXY
GREATLAND GOLD PLC ORD 0.1P, OILEX LD ORD NPV, LLOYDS BANKING GROUP PLC ORD 10P, UK OIL & GAS PLC ORD 0.01P, PREMIER AFRICAN MINERALS LIMITED ORD NPV (DI), LOCATION SCIENCES GROUP PLC ORD 0.01P
FTSE 100, DAX Index, Euro Stoxx 50, S&P 500, Nasdaq Composite, Nikkei 225
Gold, Silver, Crude Oil, Brent Oil, Natural Gas, Bitcoin
BTC/USD, ETH/USD, BCH/USD, XRP/USD, LTC/USD, ETC/USD
US 10Y, Euro Bund, Germany 10Y, Japan 10Y Yield, UK 10Y, India 10Y
Gold, Brent Oil, Crude Oil, CFDs on Natural Gas, Palladium, Silver
We are clearly in a bear market.
All fundamentals are bearish, however we do have some over extension after a major sell off from areas as high as $1.31 to $1.276.
Hence, a small retracement may be in order before the best possible price shows itself, which is when the bears will enter shorts.
So my overall sentiment for GBPUSD is bearish. For now.
The fundamentals are weak, and it seems as though the USD is continuing to gain strength, as uncertainty and weakness in the GBP economy remains.
For now, I expect to see a slight pull back before technical's take over and the market rally's down levels around 1.307.
The interest rate decision will stay on ...
I don't expect interest rates to rise at all. Following technicals, I see a support zone around .618 fib level, which could be a potential target. Regardless, I see .5 fib being reached, meaning a price of 1.37047.