Buy on rebound from 1.4195 level with 1.4345 target. Stop loss = 1.4145.
Reason for the trading strategy
The news about an acceleration of the annual inflation rate in the UK from 0.3% to 0.5% in March triggered a growth in the pound to the level of 1.4345 yesterday. Following that, the pound came under pressure against the background of the reports about the large banks (Citigroup, Goldman Sachs, Deutsche Bank and others) wanting to shut down their operations in the UK before the referendum is held in this country. We believe that the pound will maintain the support of 1.4195.
Reason for the trading strategy
The news about an acceleration of the annual inflation rate in the UK from 0.3% to 0.5% in March triggered a growth in the pound to the level of 1.4345 yesterday. Following that, the pound came under pressure against the background of the reports about the large banks (Citigroup, Goldman Sachs, Deutsche Bank and others) wanting to shut down their operations in the UK before the referendum is held in this country. We believe that the pound will maintain the support of 1.4195.
GBPUSD: consolidation in the range of 1.4195-1.4345
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