GBP/USD: Seasonals bullish in April – SocGen
April seasonality is typically bullish Sterling (GBP), economists at Société Générale say.
Seasonality in April is typically bearish EUR/GBP
Sterling retraced against the Dollar and the Euro after two of the nine-member MPC committee threw in the towel on rate hikes and voted with the majority for no change. The shift could prove a watershed and opens the door to a rate cut in the coming months.
The pullback in GBP/USD attracted buyers right on the 200-DMA (1.2591). This could be the prelude to a rally back over 1.2800 towards 1.3000 if seasonality is a guide. April ranks among the best months of the year for the Pound thanks to the repatriation by corporates of overseas FX for dividend payments. The average percentage monthly gain of the last ten years in April is 0.8%. The standard deviation is 2.2%.
Seasonality in April is also typically bearish EUR/GBP.
Reprinted from FXStreet，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.