The Pound rose sharply. Overview for 18.05.2016
18.05.2016
The GBP/USD pair is trading upwards after they published the updated information about attitude of Englishmen to Brexit.
The British Pound continues growing on Wednesday, the current quote for the pair is 1.4561.
The instrument was bought earlier as well, but it was today when “bulls” received a new impulse. The IPSOS Mori company published research results, according to which the number of British people who stand for the UK’s staying in the European Union is 55% against 37% of those, who don’t support this idea.
It was said several times earlier that in the next couple of months Brexit topic would be the catalyst, which could rock the GBP/USD pair even when the market was extremely calm. Politicians don’t have agreement of the opinion about this, because Brexit has both advantages and disadvantages. Cabinet of Ministers is divided in half, and the Prime Minister Cameron guaranteed that the referendum would be held in summer only because he promised it to the UK citizens during his election campaign.
Right now, no one can say what the consequences might be; I mean financial harm of the UK’s exiting the EU and respective conclusions. “Major” might be the word here. And here comes another question: can the United Kingdom afford to pay such a price for this conventional autonomy? This question remains open-ended.
However, right now the balance tips to those, who don’t want to change anything. It looks like the market likes it.
RoboForex Analytical Department
The British Pound continues growing on Wednesday, the current quote for the pair is 1.4561.
The instrument was bought earlier as well, but it was today when “bulls” received a new impulse. The IPSOS Mori company published research results, according to which the number of British people who stand for the UK’s staying in the European Union is 55% against 37% of those, who don’t support this idea.
It was said several times earlier that in the next couple of months Brexit topic would be the catalyst, which could rock the GBP/USD pair even when the market was extremely calm. Politicians don’t have agreement of the opinion about this, because Brexit has both advantages and disadvantages. Cabinet of Ministers is divided in half, and the Prime Minister Cameron guaranteed that the referendum would be held in summer only because he promised it to the UK citizens during his election campaign.
Right now, no one can say what the consequences might be; I mean financial harm of the UK’s exiting the EU and respective conclusions. “Major” might be the word here. And here comes another question: can the United Kingdom afford to pay such a price for this conventional autonomy? This question remains open-ended.
However, right now the balance tips to those, who don’t want to change anything. It looks like the market likes it.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.