Analysis of the British Pound vs US Dollar
Investors’ attention has again returned to the speeches of the Federal Reserve officials and US economic data.
New York Federal Reserve head’s comments have also cause to raise the yield on Treasury bills. The US dollar has reached its highest level since July, that according to the recent economic reports, the US trade deficit has fallen to its lowest level in the past eleven months. Meanwhile, with the intensification of political tensions in the UK, the pound is severely weakened.
The German Industries Federation expressed concern about the BREXIT talks in a statement released today. The statement said “the German companies in England should think of the possibility of Britain’s exit from the European Union. Although there have been many negotiations with BREXIT, the British government does not have a clear idea.
Ireland’s prime minister also said that if Britain could not reach a comprehensive agreement on a free trade agreement with the EU, it would retreat from c’s plan.
Investors are waiting for the United States’s NFP report tomorrow.
Given the British Pounds Equity Chart vs the US dollar, you can clearly see the beginning of a new downtrend, in which, according to each upward correction and observation of the Technical adjustments and fundamental return, you can Short Position.