CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Sharp gains on GBPUSD 🚀

07:34 24 February 2021

The British pound keeps soaring despite overall deterioration in market sentiment. What’s behind the surge of the currency ❓

The British pound is a clear winner among majors this year. GBPUSD was trading above 1.42 today in the Asian trade vs 1.3670 at the beginning of the year and as low as 1.2685 at the end of September. GBP is winning mostly on reopening hopes with bond yields in UK rising nearly as sharply as in the US. In fact, news that UK reopening could even accelerate if data is positive, has fueled more GBP strength today.

Yes, there are signs of the overheated market – speculative positioning approaching multiyear highs and price rising towards the upper limit in a longer run channel. However, this trend is very strong and the fact that GBP did not react to Wall Street correction can be seen as a strong positive. The next barrier for bulls to watch is obviously 1.4375 high from 2018.

This content has been created by X-Trade Brokers Dom Maklerski S.A. This service is provided by X-Trade Brokers Dom Maklerski S.A. (X-Trade Brokers Brokerage House joint-stock company), with its registered office in Warsaw, at Ogrodowa 58, 00-876 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. X-Trade Brokers Dom Maklerski S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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