BUY THE BRITISH POUND AGAINST THE UNITED STATES DOLLAR

17 Ağu 2023

The British market has seen growth this last month with its average earning index + bonus hitting a back to back alarming rise. retail markets have been steadily rising but inflation is still high with the YoY CPI at 6.8% still above the BOE 2% objective. BOE has already shown signs of another rate hike in September whereas for the jury is still out on if the FEDS are going to increase the interest rate this September with most Futures traders speculating that the last of the FEDS interest rates hike for this year has passed. so I expect to see the GBPUSD rise to the 1.30000 level this August. Also in the past two months the U.S has released the non-farm payroll data with the lowest levels since the start of the year, though the UK has as well reported peak unfavorable unemployment changes for the last 2 months, whilst comparing the UK's employment change 3M/3M we see a steady rise in the labor market compared to the same time last year. When the chart starts to create higher highs and higher lows it is a bullish sign for that particular chart.