Analytical Reviews

Forexmart's analytical reviews provide up-to-date technical information about the financial market. These reports range from stock trends, to financial forecasts, to global economy reports, and political news that impact the market.

January 3, 2018 10:09 am

GBP/USD Fundamental Analysis: December 28, 2017

The British pound against the U.S. dollar climbs higher in the past 24 hours due to the weakness of the dollar that boosts other currencies against the dollar. This is presumed to persist for short-term with the incoming long weekend as the New Year approaches which would cause a dull trading in the market.

There is less economic news in the past 24 hours, which is already anticipated during this time of the year as the global market slows down during the Christmas and New Year holidays. Yet, the dollar bears are still active as they have sold the dollar in a higher context during the opening of the European season.  This move has been going on for some time even if the there is low trading volume, it has been evident in the market.

Although, nobody knows how long this will last when the trading market returns to full operation after the holidays. The market condition has low liquidity and volatility which does not guarantee if this will be sustained. Yet for now, the dollar bulls will be at a disadvantage as the bears dominate the market and push the dollar lower. Consequently, the pound is currently positioned higher than the 1.34 region.

There is no major news from the U.K. or the U.S. that will come out for today. It is still yet to be observed if the dollar will gain back its strength in today’s trading session.

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