Tue, 01 May 2012 18:41:00 +0400
Forex news, GBPUSD. BNY Mellon experts believe that the Bank of England will inevitably face problems, caused by the increase of British currency. This may stipulate verbal interventions from the Bank. Times change, and the Bank of England will have to cede the secrecy, which it has always demonstrated in monetary policy.
British pound is turning into shelter currency again. Such change of roles is happening under the influence of investors, who are trying to avoid the impact of debt crisis in eurozone. However, the change is happening in inconvenient for British government time, and higher GBPUSD may have negative impact on the efforts of British government that are directed at fighting recession.
GBPUSD remains within long-term rising trend. According to the experts of Masterforex-V Trading System Department, the pair has finished forming 3rd sub-wave or sub-wave А(С)/С as a part of long-term bullish wave С. At this point GBPUSD currency pair is within the zone of forming 4th sub-wave or sub-wave В(С) of bullish trend. 5th sub-wave or sub-wave А as a part of Elder’s Hound/MF will start when local maximum is broken. The closest resistance is provided by Fibonacci points 1.6345 and 1.6389. Further decline will be supported by pivot MF 1.6152, as well as the end of 4th sub-wave – 1.6062, and sloping channel MF.
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All those black Mondays, Tuesdays, Wednesdays, Thursdays and Fridays keep on haunting FX traders these days. It’s been around 6 months since the SNB unpegged the Swiss Franc, thereby triggering force-majeure in the Forex industry. Greece has been causing stress to FX traders as well.
On August 24th, we could see another case of abnormal market volatility. Major stock indexes crashed, currencies went wild. Was this another stress test for FX traders and even brokers? This is the question we asked the Forex-Market company.
These days, more and more traders prefer automated trading to manual one. In other words, they outsource the trading process to trading robots. They say that the biggest advantage of using trading robots (also known as expert advisors) is the absence of emotions all human traders are subject to. Indeed, emotions in trading lead to poor results more often than not.
As you probably know, Forex is the worlds’ biggest financial market. Therefore, the money is more then enough for the average trader to get rich. On top of that, immense financial flows (several trillion dollars a day) stimulate innovation in trading, which leads us to believe that contemporary FX brokers create a more favorable environment for retail traders to make money consistently.
Without any doubt, these are hard times for the entire global trading and investment community. As the financial and economic uncertainty keeps building up, financial markets go volatile and and uncertain as well. Under such circumstances, Forex traders are forced to seek truly reliable FX brokers, especially after several big-scale FX brokers went bankrupt following the SNB’s decision to unpeg the Swiss Franc from the Euro earlier this year.