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18.02.2021 16:20

GBP/USD to remain confined within the 1.3750-1.4000 range – Westpac

FXStreet reports that analysts at Westpac expect that despite potential for a consumer led rebound, lack of near-term confidence may keep the cable range bound.

“Recent data in the UK has been more robust than forecast and it appears likely that a technical recession will be avoided, despite the likelihood of a sharp contraction in Q1 21.”

“Although there have been pronounced rebounds in certain activity surveys other business and confidence surveys have struggled to rebound. This disparity suggests that extended lockdowns, as in Europe, are constraining confidence.”

“How confidence fares on the announcement of the unwinding of the lockdown and the continued effective rollout of vaccinations will be critical in determining whether there may be a pre-Budget push for GBP to break above its current 1.3750-1.4000 range.”


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Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
Session Financial Centres UTC/GMT
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Pacific Wellington 19:00 04:00 22:00 07:00 22:00 07:00
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Sydney 21:00 06:00 00:00 09:00 00:00 09:00
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Asian Tokyo 23:00 08:00 02:00 11:00 02:00 11:00
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Hong Kong, Singapore 00:00 09:00 03:00 12:00 03:00 12:00
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European Frankfurt, Zurich, Paris 06:00 15:00 09:00 18:00 9:00 18:00
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London 07:00 16:00 10:00 19:00 10:00 19:00
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American New York 12:00 21:00 15:00 00:00 15:00 00:00
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Chicago 13:00 22:00 16:00 01:00 16:00 01:00