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The economic outlook for the UK with high Monetary Policy Committee likely to reiterate that all members to expect support from a further cut in Bank Rates to its effective lower levels. and the longer-term outlook for the sterling remains tilted to the downside.
GBP/USD remains moving to the downside as the exchange rate sees the bearish trend carried over from September 2016. With but the premium forex signals pair stands at risk for a larger correction as price appears to be diverging.
GBP/USD highlight a dynamic indicator especially as the oscillator continues to come off of oversold territory. ( REUTERS )
GOLD TECHNICAL ANALYSIS – Gold prices challenge the $1350/oz having launched a recovery after several month lows.
A daily close above the 1303.50 37.0% Fibonacci expansion exposes the 50% level at 1329.00.
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