【Fundamental × Technical Feature ⑨】Pound-Dollar: Chart Analysis
【Feature: Fundamentals × Technicals】
Seek the best approach to reading the market!
This time we approach the market from both fundamentals and technicals. We analyze major countries and major currency pairs from multiple perspectives and information sources to find hints for the optimal approach facing the market. In addition, we'll pick up popular individual stocks, cryptocurrencies, and commodities to provide a full-year 2020 market wrap-up.
In fundamentals, we’ll have Yen Kura-san provide the outlook for stock indices and foreign exchange, and in technicals, we’ll present long-term perspectives for major currency pairs with insights from Yasushi Yamanaka, a forex professional.
・② Dollar: United States’ situation
・④ Pound: United Kingdom’s situation
・⑨ GBP/USD: Chart analysis ←This article is here
・(11) AUD/USD: Chart analysis
・(12) Markets beyond currency pairs (NASDAQ & GAFA, cryptocurrencies & commodities)
※This article is a reprint and revised edition of FX攻略.com March 2021 issue. Please note that the market information described in the text may differ from the current market.
YEN蔵 Profile
With over 20 years as a foreign exchange dealer at U.S. City Bank, U.K.-based Standard Chartered Bank, and other foreign banks, currently a top professional trader trading forex, Nikkei 225, Nikkei options, and individual stocks. President and representative director of ADVANCE Co., Ltd., which primarily distributes investment information.
Newsletter:YEN蔵 Real Top Trading
Blog:YEN蔵’s FX Investment Skills – Investing in the world with dollars, yen, euros, pounds, and Australian dollars
Twitter:https://twitter.com/YENZOU
Yamanaka Yasushi Profile
Ascendant Co., Ltd. Director. Joined Bank of America in 1982, became Vice President in 1989, Propriety Manager in 1993. 1999, Deputy Head of FX Funds at Nikko City Trust Bank. 2002, founded Ascendant Co., Ltd.
Official Blog:Forex information delivery site provided by Ascendant/Yamanaka Yasushi
Twitter：https://twitter.com/yasujiy
Breakout from long-term downtrend. Only rising consistently last year
In the long-term analysis of GBP/USD, Yamanaka-san sees a breakout above the long-term downtrend. Since 2009 and again since 2016, both lines of resistance were cleanly broken, which is the basis for the view. However, compared to EUR/USD, caution is advised regarding the motive for a rise.
Looking at 2020 on a daily chart, after the COVID-19 shock there was a clear upward trend throughout the year. With the EU trade negotiations settled and uncertainty reduced, the short-term uptrend is expected to continue. The support line from October has been functioning reliably, so trading with a buy bias is likely to remain effective in 2021.
