Pound faces challenge. Forecast as of 01.02.2024

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Dovish signals from the Bank of England and a strong US jobs report risk reducing GBPUSD to the lower border of the trading channel of 1.26-1.28. Let us discuss the Forex outlook and make up a trading plan.

Weekly Pound fundamental forecast

The British pound continues to resist the strong US dollar, but the bulls are weakening. Recently, Jerome Powell reduced the chances of the Fed starting monetary expansion in March, and a rumor spread in the market that one of the MPC members will vote on February 1 to reduce the interest rate. As a result, GBPUSD moved towards the… Read full author’s opinion and review in blog of #LiteFinance

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