GBPUSD Analysis Week 46
Updated
🌐Fundamental Analysis
The Bank of England (BoE) said on Thursday that it had cut its benchmark interest rate by 25 basis points (bps) to 4.75%, with eight policymakers voting in favor of the move
The Federal Reserve (Fed) cut its policy rate by 25 basis points to a range of 4.5%-4.75%. The US central bank reiterated in its policy statement that risks to the job market and inflation were “roughly balanced”. In a press conference after the meeting, Fed Chairman Jerome Powell refrained from hinting at whether it would cut rates again in December. When asked about Donald Trump’s victory in the presidential election, Powell explained that the election outcome would not affect monetary policy in the near term.
🕯Technical Analysis
The pair is sideways in a relatively wide range in a strong downtrend with the boundary zone defined around 1.302-1.284. When breaking these two boundaries, a clear next trend will be formed. The current trading trend is to wait for price reaction at the boundary zone to trade or wait for retest points to trade in the direction of the break trend. The 1.272 and 1.314 zones are considered the target zones of Break out signals and are also considered strong price reaction zones.
📉📈Trading signals
BUY GBPUSD 1.272-1.270 Stoploss 1.268
SELL GBPUSD 1.314-1.316 Stoploss 1.318
The Bank of England (BoE) said on Thursday that it had cut its benchmark interest rate by 25 basis points (bps) to 4.75%, with eight policymakers voting in favor of the move
The Federal Reserve (Fed) cut its policy rate by 25 basis points to a range of 4.5%-4.75%. The US central bank reiterated in its policy statement that risks to the job market and inflation were “roughly balanced”. In a press conference after the meeting, Fed Chairman Jerome Powell refrained from hinting at whether it would cut rates again in December. When asked about Donald Trump’s victory in the presidential election, Powell explained that the election outcome would not affect monetary policy in the near term.
🕯Technical Analysis
The pair is sideways in a relatively wide range in a strong downtrend with the boundary zone defined around 1.302-1.284. When breaking these two boundaries, a clear next trend will be formed. The current trading trend is to wait for price reaction at the boundary zone to trade or wait for retest points to trade in the direction of the break trend. The 1.272 and 1.314 zones are considered the target zones of Break out signals and are also considered strong price reaction zones.
📉📈Trading signals
BUY GBPUSD 1.272-1.270 Stoploss 1.268
SELL GBPUSD 1.314-1.316 Stoploss 1.318
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