ANALYSIS
NQ100 Finds Support from PPIApr 14
Uptrend in GBPUSD is Preserved
We see the demand for the pound rising after the UK government announced on 17 November that it is planning tax increases and spending cuts of up to 60 billion pounds. On the other hand, it is clear that the moderate retreat of the dollar following the NFP data published last Friday in the USA also increased parity. Under this outlook, if the psychological level of 1.1500 can be exceeded with permanent closes in GBPUSD parity, where the upward trend is preserved, the movement in favor of the pound can continue until the resistance of 1.1570 after the formation is completed. In possible downward movements, 1.1370 and 1.1295 supports can be followed.
