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Key Points
- The U.S. Personal Consumption Expenditures (PCE) Price Index met expectations but reaffirmed that the disinflation trend is stalling.
- Consumer prices in Tokyo are expected to be stronger than the previous month, raising expectations for a rate hike by the Bank of Japan next month.
- ECB Executive Board Member Isabel Schnabel expressed support for gradual rate cuts while opposing a 50-basis-point cut.
- Amid the simultaneous strengthening of the yen and euro, the Dollar Index fell to as low as 105.854 during the session.
Key Economic Calendar
- November 28: Germany’s November Consumer Price Index (CPI)
- November 29: Eurozone’s November Consumer Price Index (CPI)
GBP/USD Chart Analysis
The GBP/USD pair has been in an uptrend but briefly broke below its lower trendline, dropping to the 1.25000 level. However, it quickly recovered and climbed back to the 1.27000 level. The uptrend remains intact, and the recent rebound opens the possibility of reaching the 1.30000 level.
That said, if the pair falls again and drops below the 1.25000 level, it could signal a trend reversal, with the potential for further declines toward the 1.21000 level.
Thank you all for tuning in. Please share your personal opinions in the comments section, and don’t forget to like and subscribe!
Key Points
- The U.S. Personal Consumption Expenditures (PCE) Price Index met expectations but reaffirmed that the disinflation trend is stalling.
- Consumer prices in Tokyo are expected to be stronger than the previous month, raising expectations for a rate hike by the Bank of Japan next month.
- ECB Executive Board Member Isabel Schnabel expressed support for gradual rate cuts while opposing a 50-basis-point cut.
- Amid the simultaneous strengthening of the yen and euro, the Dollar Index fell to as low as 105.854 during the session.
Key Economic Calendar
- November 28: Germany’s November Consumer Price Index (CPI)
- November 29: Eurozone’s November Consumer Price Index (CPI)
GBP/USD Chart Analysis
The GBP/USD pair has been in an uptrend but briefly broke below its lower trendline, dropping to the 1.25000 level. However, it quickly recovered and climbed back to the 1.27000 level. The uptrend remains intact, and the recent rebound opens the possibility of reaching the 1.30000 level.
That said, if the pair falls again and drops below the 1.25000 level, it could signal a trend reversal, with the potential for further declines toward the 1.21000 level.
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cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
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.
네이버 카페 :
cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
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.