Join the PU Xtrader Challenge Today
Trade with simulated capital and earn real profits after you pass our trader assessment.
Join the PU Xtrader Challenge Today
Trade with simulated capital and earn real profits after you pass our trader assessment.
2 August 2024,02:12
Trade Of The Day
Tags:
2 August 2024, 02:12
* Dovish Statements from Fed and Risk-Off Sentiment: The Pound Sterling experienced significant bearish momentum following the Bank of England’s decision to cut interest rates by 25 basis points, down to 5.00%. Meanwhile, market volatility is rising ahead of the release of crucial Nonfarm Payrolls and Unemployment rate data, alongside escalating Middle East tensions. Some investors have opted to sell off Pound Sterling, shifting their portfolios toward safe-haven assets and adopting a wait-and-see approach.
* Technical Breakout: GBP/USD is trading lower after a prior breakout below the previous support level. The pair is currently testing the support level of 1.2705, and investors should closely watch for any potential breakout.
* Resistance and Support: If the bearish momentum persists, a successful breakout for the GBP/USD pair could lead to further losses toward the next support level of 1.2615. Conversely, a failure to break out may signal a potential technical correction for GBP/USD.
Learn more about how to navigate the prop trading landscape by checking out PU Xtrader’s trading blogs.
Stay updated on US and global data, central bank updates and any shifts in the GBP/USD’s strength by following PU Xtrader’s financial news page.
Register For PU Xtrader Challenge And Start Prop Trading
Take Challenge
Trade with simulated capital and earn real profits after you pass our trader assessment.
20 September 2024, 02:24 USD/JPY Declines On BoJ Rate Hike Bets
19 September 2024, 02:10 USD/CAD Surges After Fed Rate Decision
18 September 2024, 02:20 Euro Rises with Fed Rate Cut on the Horizon
Disclaimer: This website exclusively provides proprietary trading services. We do not engage in any regulated activities, offer investment management services, or manage funds on behalf of external clients. Our trading activities are conducted solely with the firm's own capital, and we do not accept client deposits or manage client accounts. It's important to note that none of the services we provide should be construed as investment or financial services in accordance with applicable laws.
This website offers services related to professional skill and experience assessment, which determine your eligibility to trade with the firm's capital. The outcome of these services is inherently determined by your individual skill level and ability to perform within the trading requirements and objectives outlined for each service separately. Clients are strongly advised to thoroughly understand the requirements of the services before signing up for any.
The content provided on this website is for informational purposes only and does not constitute financial, investment, or trading advice. The information presented is based on sources believed to be reliable, but we do not guarantee its accuracy, completeness, or timeliness. We disclaim any liability for any loss or damage arising directly or indirectly from the use of or reliance on the information provided on this website.
This website is not directed to residents of certain jurisdictions such as the United States, Singapore, Australia, China, Pakistan and some other specified regions, and is not intended for distribution to, or use by, any person in any countries or jurisdictions where such distribution or use would be contrary to local law or regulation.
