GBP/USD dips below 1.1300 as the Sunak effect fades
24.10.2022, 20:04

GBP/USD dips below 1.1300 as the Sunak effect fades

  • The pound retreats below 1.1300 after failure at the 1.1400 area.
  • Investors welcome Risi Sunak's victory.
  • GBP/USD is aiming to 1.11/1.12 if 1.1400 resistance holds – Scotiabank.

The pound is depreciating moderately on Monday, despite the initial positive reaction to the news about the election of Rishi Sunak as the next Prime Minister.

The pair was rejected at the 1.1400 area and has been losing ground through the day to consolidate below 1.13 during the afternoon US trading session..

The market welcomes Sunak's victory

News that former PM Boris Jonson retired from the Tory race to Downing Street, leaving the doors open for the market candidate, Rishi Sunak,  triggered an immediate bullish reaction on the GBP and pushed gilts higher in early trading.

The positive reaction, however, was short-lived and the pound lost traction as soon as the market came to terms with the challenges ahead for the UK economy. The soaring inflation coupled with the gloomy growth forecasts are likely to maintain GBP longs on check for some time.

GBP/USD: aiming for 1.12 or 1.11 if 1.1400 resistance holds – Scotiabank

Failure to breach 1.14 will pull the pair to the 1.12/1.11 area, according to FX analysts at Scotiabank: “A break above the 1.1395/1.1400 area could change short-term dynamics and put the pound on course for a 1.15/1.17 test (…)If the 1.1395/1.1400 resistance holds, GBP/USD may slip back to 1.11/1.12.” 

Technical levels to watch

 

 

© 2000-2025. Sva prava zaštićena.

Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

Politika sprečavanja pranja novca

Upozorenje o rizicima

Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.

Politika poverenja

Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.

Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.

Банковни
транcфери
Feedback
Lajv čet E-mail
Povratak na vrh
Izaberi lokaciju / jezik