GBPUSD under pressure from UK economy

Foreign exchange strategists at JP Morgan are sellers of the Pound, saying it is only a matter of time before a more protracted pullback plays out in response to deteriorating economic growth fundamentals.

The lack of GBP appreciation on the back of the shockingly high inflation print in the UK signalled that the sterling reaction function may be shifting given the growth implications

But Locke notes UK housing metrics are continuing to deteriorate, which comes against a backdrop of very high and sticky inflation

This will have a big impact on GBPUSD . Most likely it will have a drop around 1.2410-1.2430 and will come back

GBPUSD BUY LIMIT 1.2410-1.2430

✅𝖳𝖯1 1.2460
✅𝖳𝖯2 1.2500
✅TP3 1.2550

🛑𝖲𝖫 1.2370

הערה:

HIT FULL TP 3 +140 Pips ✅✅✅