June 7-11, 2021. The British pound is flat, but growth prospects remain

2021-06-06

The GBPUSD currency pair has been flat since May 17. This is clearly seen on the H4 timeframe. The amplitude of the flat is about 170 pt. Therefore, there is no need to talk about long-term trading yet. The pound reached its three-year highs and has been marking time for three weeks in a row. If EURUSD this week showed a movement that can be called at least a pullback, then GBPUSD simply stands still with small fluctuations. However, traders can resume buying it at any time. The fact is that the global fundamental background of the British pound is somewhat better than that of the euro. The pound also has a speculative factor that does not allow it to decline significantly. Therefore, if on EURUSD there are no reasons to expect the end of the fall of the American currency, then on GBPUSD these reasons are even less. Thus, the upward movement will continue in almost any case. Even in spite of the fundamental background, which remains not the best in the UK.