PU Prime App
Exclusive deals on mobile
Hold The Global Markets In Your Hands
Our trading mobile app is compatible with most smart devices. Download the App now and start trading with PU Prime on any device, anytime and anywhere.
* Dismal mood: The Pound Sterling has fell against the dollar and its peer as the major pair remains at risk due to slowing UK inflation and negative market sentiment. On U.S front, several Federal Reserve officials discussed the monetary policy outlook on Tuesday. Loretta Mester, President of the Cleveland Fed Bank, maintained her expectation of interest rate cuts within the year but ruled out the possibility of it happening at the next policy meeting in May. Mary Daly, President of the San Francisco Fed Bank, also foresees rate reductions this year but emphasized the need for further evidence of inflation cooling down before implementing them. Daly stated that three rate cuts in the year are a “very reasonable baseline,” although nothing is certain. Traders continue to raise their bets on BoE will cut interest rate before U.S Fed this year. On top of that, the dismal market mood and easing UK inflation also weigh on the currency.
* Technical Breakout: GBPUSD was traded lower following recent breakout below the previous support level 1.25850. MACD which illustrate diminishing bullish momentum suggest the pair to extend its losses towards the next level.
* Resistance and Targets: If the bearish momentum persists, there’s a strong likelihood that the price will fall towards the subsequent level 1.25350. However, if the price breaks back above 1.25900 level, it may signal a potential reversal for the pair and head towards 1.26450.
Understand how technical analysis can help you in this trading opportunity.
Moving forward, investors will now mostly eye on U.S data and also Fed. Speeches are scheduled from Fed officials Bowman, Goolsbee, Barr, Kugler, and Powell. Should any of these officials express dovish sentiments, it may exert downward pressure on the US dollar and provide support for the GBP/USD pair in the short term.
Know how to manage trading risks with risk management strategies.
Stay updated on U.S and U.K data, BoE updates and any shifts in the US Dollar’s strength by following PU Prime’s market insights and daily financial news.
Grab the trading opportunity and dive into the action risk-free with a free demo account. It is the perfect way to hone your skills and explore the exciting world of trading!
Open Your Free Demo Account And Start Trading
Create Demo Account
Disclaimer: Trading derivatives involves high risks, and market conditions can change rapidly. The content is for informational purposes only and should not be considered as financial advice. Traders should conduct their own research and consider risk management strategies.
Trade forex, indices, metal, and more at industry-low spreads and lightning-fast execution.
Sign up for a PU Prime Live Account with our hassle-free process.
Effortlessly fund your account with a wide range of channels and accepted currencies.
Access hundreds of instruments under market-leading trading conditions.
Please note the Website is intended for individuals residing in jurisdictions where accessing the Website is permitted by law.
Please note that PU Prime and its affiliated entities are neither established nor operating in your home jurisdiction.
By clicking the "Acknowledge" button, you confirm that you are entering this website solely based on your initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website which is provided on reverse solicitation in accordance with the laws of your home jurisdiction.
Thank You for Your Acknowledgement!
Ten en cuenta que el sitio web está destinado a personas que residen en jurisdicciones donde el acceso al sitio web está permitido por la ley.
Ten en cuenta que PU Prime y sus entidades afiliadas no están establecidas ni operan en tu jurisdicción de origen.
Al hacer clic en el botón "Aceptar", confirmas que estás ingresando a este sitio web por tu propia iniciativa y no como resultado de ningún esfuerzo de marketing específico. Deseas obtener información de este sitio web que se proporciona mediante solicitud inversa de acuerdo con las leyes de tu jurisdicción de origen.
Thank You for Your Acknowledgement!