The British government creates positive business. At the end of last week, GBP / USD continued to attack new highs, as the British government made no major mistakes. Ad Photo Strong Dollar Swing Make Very Profitable Trades Apply Now! , GBP / USD will start trading next week with a positive dose of speculative fever hovering over the landscape. The UK government managed to avoid major policy changes last week and it now looks like the current new leadership could last more than a month. While this is certainly sarcastic, it does highlight the rather incredible stretch that GBP/USDS has seen over the last couple of months, with a rather negative media profile hovering over the British government. GBP/USD rose to over the weekend, indicating that it may hold its short-term highs near 1.16100, away from the lower depths of recent weeks. Before traders get too bullish on GBP/USD, they should note that the UK government is not out of the woods yet and the public is counting on the new leadership to deliver stable economic activity. Good economic development may present challenges in the UK and elsewhere in the medium term. GBP/USD was initiated on the belief that it is significantly oversold. However, forex financial institutions often make long-term bets, especially between major currency pairs such as GBP / USD. Yes, businesses have to make daily transactions where the value of a currency pair is often thought of, but not as a guiding „light” because bills need to be paid. Traders often have to make short-term bets, and those with deeper pockets can continue to trade for a while. But financial houses also know what is coming in the next six months and tend to position themselves based on what they think is the direction. Although financial houses do not speak out about speculation, banks and investment companies are constantly betting on the prospects of their operations. If GBP/USD can hold 1.16,000 earlier this week and show that buyers remain in the trading waters, this could trigger a speculative ruse that will see the pair challenge the highs seen last week. Traders should not be too ambitious as the fundamentals remain and there are many economic clouds on the horizon for the UK. If the 1.16500 level becomes visible, some traders may consider it too high based on last week’s results. GBP/USD trading week ahead is likely to remain volatile Investors should be prepared for a rather mixed mix of near-term positive sentiment and prepare for those who want to continue pointing fingers and saying GBP/USD should hold. under pressure The British government is trying to be calmer and has delayed the next major budget statement until mid-November, but the situation could change quickly as politicians battle each other for the microphone. GBP/USD Weekly View: Speculative price range for GBP/USD is 1.13990-1.18100 Speculators should watch GBP/USD closely. The currency pair has certainly seen a strong dose of buying over the past week and a half. However, reversals to the downside are also likely to be seen as filtering reactions and natural cycles in weekly trading. A break below 1.15800 in GBP/USD could cause concern among those looking for higher territory and more selling. A move below the 1.15,000 level would certainly raise some fears and some traders may think that 1.1. 50 should be the starting point. Optimistic traders should be careful. Although the trend often proves to be a speculator’s friend, sometimes the golden goose needs a rest. And this trend was not long, in fact it only started on October 21 after GBP/USD briefly flirted with 1.10700. If GBP/USD can break above 1.17000 it would be quite an achievement, a move above 1.18000 could raise doubts that things are too bullish after all. Investors must be ready to take profits when they materialize and not let them disappear if the GBP/USD bet brings lasting profits. That may actually be the case, but the ride is likely to be empty soon.

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