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Fundamental Market Analysis for August 8, 2024 GBPUSD

Event to pay attention to today:

15:30 GMT+3. USD - Unemployment Claims

GBPUSD:

The Pound-Dollar pair broke its three-day losing streak, trading near 1.2700 during the Asian session on Thursday. The gains could be driven by a weaker US Dollar (USD) as the US Federal Reserve (Fed) is expected to begin cutting rates more aggressively in September.

According to the CME FedWatch tool, the probability of the US Federal Reserve (Fed) cutting interest rates by 50 basis points (bps) in September is 72.0%, up from 11.8% a week earlier. The expectation of deeper rate cuts could put pressure on the US Dollar in the near term.

According to Reuters, Federal Reserve Bank of San Francisco President Mary Daly expressed confidence earlier this week that U.S. inflation is moving toward the Fed's 2% target. Daly noted that "risks to Fed mandates are becoming more balanced and that there is an openness to the possibility of rate cuts at upcoming meetings."

As for the British Pound, rising risk aversion associated with escalating tensions in the Middle East may cause traders to abandon risk-sensitive currencies such as the Pound Sterling (GBP). According to two US intelligence officials, Iran and its allies are preparing a potential retaliatory strike against Israel. Such a response is expected following the recent assassinations of a top Iranian Hezbollah military commander in Lebanon and a senior Hamas leader in Tehran, according to CNN.

Meanwhile, the British pound's gains may be tempered by increased expectations that the Bank of England will cut rates by 25 basis points at its August meeting. In addition, market expectations now include the possibility of two more quarter-point rate cuts by the Bank of England before December.

Trading recommendation: Watch the level of 1.2700, if the level is fixed above, take Buy positions. On the rebound take Sell positions.

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STRATEGIC PURCHASES AT A MICRO PRISE!

Following the lead of other tech giants like NVIDIA, which we covered in May, MicroStrategy has decided to make its shares more accessible to investors. The company recently announced a 10-to-1 stock split, and trading at the adjusted price begins today, August 8!

Today's business world cannot function without in-depth analysis of vast amounts of data. Founded in 1989, MicroStrategy (#MicroStrgy) is one of the largest companies in this field. It continues to strengthen its market position and attract attention with its innovations. This multifunctional data analytics platform offers visualization, integration with various databases, and machine learning capabilities—just a few areas where MicroStrategy excels.

The maximum price of MicroStrategy shares on NASDAQ reached $2,000 per share, and in 2024, the peak growth in value reached 194%! Our analysts believe that after the stock split, the company will be able to attract even more funds, ensuring further growth.

Shares of this tech market giant offer several advantages:

• Powerful data analytics platform: MicroStrategy offers a multifunctional system that allows users to easily process and visualize data, making analysis accessible to a broader audience. The software supports integration with various databases and APIs, enabling companies to use data from different sources in one place.

• Diverse client base: MicroStrategy serves clients from various industries, including finance, healthcare, retail, and technology. This diversifies risks and creates a sustainable source of income.

• Smart predictions and analytics: The platform includes machine learning (AI) and predictive analytics features, allowing companies to analyze past data and forecast future trends. Based on Big Data, the algorithms provide an accurate picture of upcoming events.

• Bitcoin acquisition strategy: MicroStrategy actively buys bitcoin, giving shareholders indirect exposure to the cryptocurrency market. The success of this strategy could lead to significant growth in the company's shares, especially amid increasing interest in cryptocurrencies.

• Growth in subscription services revenue: In Q2, the company earned $24.1 million from subscription services, a 21% increase compared to the previous year.

Additionally, according to a report on the company's official website, MicroStrategy holds 226,500 BTC with a total value of $8.3 billion, and the return on these holdings since the beginning of the year has been 12.2%.


Founder Michael Saylor knew how to strategically allocate the company's funds. You can profit from this as well, with a high probability of a new wave of growth in MicroStrategy's stock price (#MicroStrgy)!

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