GBP/USD News:
🔆GBP/USD broke a three-day winning streak, trading around 1.2490 in Asian trade on Thursday
🔆More upbeat UK inflation data was overshadowed by concerns about slowing growth. The pound could face downside pressure amid expectations that the Bank of England will resume its policy easing cycle, expected to cut interest rates by 25 basis points to 4.5% later in the day.
🔆GBP/USD could resume its downtrend if policymakers signal dovishness. The more dovish the forecast, the more likely GBP will fall as low interest rates will be less attractive.
🔆The trade war launched by President Trump remains a major factor today. The UK is not among Trump’s top opponents but is still in his crosshairs.
🔆On the other hand, if policymakers prove tough, GBP/USD is likely to gain further upside traction.”
Personal opinion:
🔆There are many negative forecasts for GBP
🔆The RSI (1H) indicator is entering the oversold zone and shows no signs of reversal, the next support level is 1.240. If it continues to fall, it may return to the trend line to communicate with the next support line
Thank you for reading my comment: "FM"
🔆GBP/USD broke a three-day winning streak, trading around 1.2490 in Asian trade on Thursday
🔆More upbeat UK inflation data was overshadowed by concerns about slowing growth. The pound could face downside pressure amid expectations that the Bank of England will resume its policy easing cycle, expected to cut interest rates by 25 basis points to 4.5% later in the day.
🔆GBP/USD could resume its downtrend if policymakers signal dovishness. The more dovish the forecast, the more likely GBP will fall as low interest rates will be less attractive.
🔆The trade war launched by President Trump remains a major factor today. The UK is not among Trump’s top opponents but is still in his crosshairs.
🔆On the other hand, if policymakers prove tough, GBP/USD is likely to gain further upside traction.”
Personal opinion:
🔆There are many negative forecasts for GBP
🔆The RSI (1H) indicator is entering the oversold zone and shows no signs of reversal, the next support level is 1.240. If it continues to fall, it may return to the trend line to communicate with the next support line
Thank you for reading my comment: "FM"
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Channel: signals - knowledge and FOREX comments
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.