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Old 28-12-2017, 06:31
AndreaFM AndreaFM is offline
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Default Re: Daily Market Analysis by ForexMart

GBP/USD Fundamental Analysis: December 27, 2017

It was a holiday in the majority of the places in Europe, including the U.K. that makes it not surprising if the pound persisted to consolidate and traded within a tight range for the most part of trading yesterday. The GBP/USD pair falls within a tight range since there is few major economic news.

It will not be surprising to have lesser volatility and liquidity this holiday season. At the same time, there is not much placing of trades and more on profit-taking in the past week, which can be seen mostly in the smaller market such as bitcoin. Although, it was not that obvious for pound despite there is a bigger market that is why grabbing the opportunity of any selling of this pair prior to holidays is relevant.

Come the second week of January, both liquidity and volatility will most likely gain momentum. Until then, traders should get ready for choppiness within a range near the end of the year. The market has reopened following a long weekend yet, there is still fewer traders this week since most still wanted to extend their vacation until New Year. Hence, consolidation of the pair within a tight range will persist in the next few days.

When it comes to data the Conference board’s Consumer confidence data from the U.S. is anticipated to be released today but this would not bring much volatility in the market. There is no major economic news from the U.K. Thus, there will be low trading and slow movement in the market for the rest of the day.
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Daily Market Analysis by ForexMart-gbpusd27.png  
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