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Foreign exchange market

GBPUSD: British Pound Stays Unaffected By External Trade Deficit


 

 

February’s increase in the UK external trade deficit (+₤8.8B) exceeded the most pessimistic expectations, thus destroying the economic recovery hopes. The deficit increased mainly due to lower exports to non-eurozone countries (by ₤11.7B or 8.8%) and higher import (by ₤16.7B or 1%) . This resulted in a ₤5B deficit in the bilateral trade with non-European countries.

 

 

 

 

 

 
At the same time, the external trade deficit with the eurozone lowered form ₤4.2B down to ₤3.8B in February.
 
According to Masterforex-V Academy, GBPUSD keeps being flattish (retracement against a long-term rally). The latest upswing - wave A/B of H4 – is completed. A break above the local high 1.5984 will resume the rally in the form of wave A/B of H8 or higher. The closest major levels of resistance are 1.6045 and 1.6062.  Alternatively, a break below 1.5804 will resume the forming of wave A/B of Daily. If this is the case, the Mf sloping channel and pivot 1.5769 will turn into the closest major level of support.

 

 

 

 

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Publication date: 19 November 05:42 AM

Samsung Becomes Apple's Biggest CPU Supplier Again

 

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Publication date: 18 November 06:37 AM

Forex Moneymaking: Reality and Challenges

 

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Publication date: 18 November 05:30 AM

Masterforex-V Expo Reveals 23 Most Reputable Forex Brokers in November 2014

 

Finding a reputable and reliable broker, which can be trusted 100%, is not an easy task these days. A reliable trading partner is definitely as important as a profitable trading strategy along with trading skills and valuable knowledge. Indeed, does it really matter how good you are at Forex trading if your broker can let you down at any minute by giving you non-market quotes, order execution errors or by simply refusing to pay? The answer is obvious. Choosing a reputable Forex broker is one of the cornerstones of success in this risk but profitable human activity...
 
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Publication date: 18 November 04:24 AM

TraderGlobal on How to Benefit from Copying Trades by Successful Forex Traders

 

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Publication date: 17 November 02:24 PM

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Publication date: 17 November 12:29 PM

MasterForex-V Academy Reveals Concord Bay Test Drive Results

 

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Publication date: 17 November 09:43 AM

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