empty
 
 
28.05.2023 10:25 AM
GBP/USD: Is there a chance for a price increase?

This image is no longer relevant

Market players actively look out for a GBP/USD rally, as various economic uncertainties remain worldwide. An example of this could be the appointment of Jonathan Haskel as the Bank of England's new interest rate regulator.

In a recent statement, Haskel said there could be a further increase in the bank's rate as the labor market remains strained despite challenging circumstances and some indicators pointing to a weakening situation. This only means that inflation could worsen, albeit limited as firms start to raise prices.

However, most players shift to safe-haven assets such as dollar in times of economic uncertainty, accordingly resulting in a decline in the pair. And as markets also hope for a resolution regarding the US debt ceiling issue, GBP/USD could show an increase on the weekly chart, but it will not last very long.

This image is no longer relevant

Irina Yanina,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback