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The Bank of England and Economic Data Put the Pound and the Dollar in Focus

For the EUR

It’s a relatively busy day ahead on the economic calendar. German and Eurozone unemployment figures are due out later this morning, along with prelim inflation figures out of Germany.

Expect Germany’s unemployment change figures for January to have the greatest impact on the EUR.

For the Pound

It’s a big day ahead on the economic calendar. While there are no material stats to provide direction, the BoE is in action.

The markets had anticipated a rate cut at the start of the year. Economic data out of the UK last week shifted sentiment.

That leaves the vote count, the minutes, and BoE Governor Carney’s speech to influence on the day

https://www.fxempire.com/news/article/the-bank-of-england-and-economic-data-put-the-pound-and-the-dollar-in-focus-629454

GBP/USD Forecast: Awaits BoE policy decision for some meaningful impetus ahead of Brexit

Short-term technical outlook

From a technical perspective, nothing seems to have changed much for the pair and bearish traders are likely to wait for a sustained break through a support marked by a near three-month-old ascending trend-line support. This is followed by monthly lows, around the 1.2955 region, which if broken should pave the way for a further downfall and accelerate the fall further towards the 1.2905-1.2900 area (December monthly lows) en-route the 1.2830-25 support zone.

On the flip side, immediate resistance is pegged near the 1.3050 region, which if cleared might trigger a short-covering move back towards the 1.3100 round-figure mark

https://www.fxstreet.com/analysis/gbp-usd-forecast-awaits-boe-policy-decision-for-some-meaningful-impetus-ahead-of-brexit-202001300630

According to Trading Central (3rd party RIA) the GBPUSD could be heading DOWN to 1.2760 if it does not go ABOVE 1.3275

* Past performance is not a guarantee of future performance

https://europefx.tradingcentral.com/Product?PK_ANALYSE=10595007

Number of Lots: Required Margin: Risk Management (200%): Potential Profit/Loss 1.2760
1 € 3,941.04 € 7,882.08 € 2,271.50
5 € 19,705.21 € 39,410.42 € 11,357.50
10 € 39,410.42 € 78,820.84 € 22,715.00
25 € 98,526.05 € 197,052.10 € 56,787.50
50 € 197,052.10 € 394,104.20 € 113,575.00

According to Trading Central (3rd party RIA) the EURGBP could be heading UP to 0.8776 if it does not go BELOW 0.8362

* Past performance is not a guarantee of future performance

https://europefx.tradingcentral.com/Product?PK_ANALYSE=10582777

Number of Lots: Required Margin: Risk Management (200%): Potential Profit/Loss 0.8776
1 € 3,333.33 € 6,666.67 € 3,440.64
5 € 16,666.67 € 33,333.33 € 17,203.18
10 € 33,333.33 € 66,666.67 € 34,406.36
25 € 83,333.33 € 166,666.67 € 86,015.90
50 € 166,666.67 € 333,333.33 € 172,031.80

Important Notice!

As of 1 February 2020, “EuropeFX” is no longer a Corporate Authorised Representative (“CAR”) of Union Standard International Group Pty Ltd (“USG”), which holds an Australian Financial Services License (“AFSL”) # 302792.

As of 1 February 2020, “EuropeFX” is no longer a Corporate Authorised Representative (“CAR”) of Union Standard International Group Pty Ltd (“USG”), which holds an Australian Financial Services License (“AFSL”) # 302792.

Moving forward all of your trading services (as stipulated in the Terms of Business, FSG and PDS) will be provided to you directly by USG with exactly same business terms and user experience.

As the issuer of the CFD financial products and responsible financial services licensee, USG has been providing the underlying trading services which were made available to you through the EuropeFX platform. There will be no interruption or change to your trading experience.

All of your trading history, and all open position will remain open and will be reflected also in your new client area when you login on or after 1 February 2020. The only difference moving forward will be that all customer support and inquiries after 31 January 2020 will be provided by representatives of USG rather than EuropeFX.

As of the 1 February 2020, please contact UGS’s support team via email to [email protected] or via telephone: +61 2 9251 1416.

We thank you for your support and business to date, and wish you all the best for continued trading success.