The couple has declined their decline, stabilizing about 1,3391.
The previous day, the governor of the Bank of England, Andrew Bailey, addressed the key global economic challenges in a speech in Mansion House. He described the last wave of commercial rates as a systemic event capable of remodeling global commercial dynamics. Bailey highlighted the growing domestic imbalances in the United States and the weak domestic demand in China, urging both nations to clarify their strategies to address these problems.
However, Bailey clarified that not all commercial imbalances are inherently problematic, many come from productivity disparities between nations. However, he warned that expanding macroeconomic and political divergences are increasing systemic fragility. Recent developments added, they have exposed weaknesses in multilateral cooperation and the lack of addressing emerging challenges effectively.
The governor also emphasized the role of the International Monetary Fund (IMF) in the mitigation of global imbalances, asking for more proactive international institutions. He attributed distortions mainly to national economic policies, warning that without reform, global financial stability could be at risk.
While current imbalances remain manageable for historical standards, Bailey warned against complacency. An integral reassessment of policy approaches is essential to guarantee the stability and predictability of the financial system.
Technical analysis: GBP/USD
Figure H4:
In graph H4, the GBP/USD torque has decreased to the level of 1,3450, where a consolidation range has now formed. The couple has broken the inconvenience, reaching 1,3378. Today, a short -term rebound is possible to 1,3415 (as a new test from below). However, if resistance is maintained, the torque can resume its decrease towards 1,3296. At the end of this wave down, you could follow a possible rebound towards 1,3450. Technically, this scenario is confirmed by the MACD indicator, whose signal line is below zero and firmly points down.
Figure H1:
In graph H1, the GBP/USD torque is extending the third wave of its decline, with a local objective in 1,3296. Once this level is reached, a correction towards 1,3460 could develop. Technically, this scenario is compatible with the stochastic oscillator, with its signal line below 80 and tending sharply down 20.
Conclusion
The bearish impulse persists, with key levels of focus support. A short -term setback remains possible, but it is likely that the broader lower trend continues unless a significant change in the foundations occurs.
By analytical department of Roboforex
Discharge of responsibility: Any forecast contained in this document is based on the author's particular opinion. This analysis may not be treated as commercial advice. Roboforex has no responsibility for commercial results based on commercial recommendations and reviews contained in this document.
