Get started

Gbpusdforecast

Crunch Time: Will Sellers Break the Barrier? GBPUSD in Focus Traders are heavily bullish on the British pound, with net long positions exceeding a whopping $4.7 billion as of July 11, the highest level since mid-2014. Traders are ramping up their expectations for the Bank of England to implement additional interest rate hikes while increasingly under the impression that U.S. rates are on the verge of reaching their peak. Notably, the US Federal Reserve has entered a "blackout period" ahead of their July 26 meeting. As a result, this sentiment could put downward pressure on the U.S. dollar. Meanwhile, the UK's inflation figures are a major risk event to watch for this week. Although there is an expectation for a drop in the inflation rate (from 8.7% to 8.2%), it is anticipated to remain four times higher than the Bank of England's official target. UK inflation data is due at 2 am (NY time) on Wednesday. On the chart, the GBPUSD continues to explore lower levels following a test of a high target near 1.31465 on the daily chart last Friday. The market saw a modest corrective downward move last Friday, and again the first trading day of this week. This allowed the 20-day moving average to catch up with the price action. The big question now is whether sellers can push prices below the psychologically important level of 1.3000 ahead of the release of UK inflation data. The presence of buying pressure adds uncertainty to the situation.
by BlackBull_Markets
GBPUSD - daily outlookIn my analysis of GBPUSD, I have identified a bullish outlook with a potential target at 1.29078 & 1.29785 GBPUSD has been exhibiting a series of higher highs and higher lows, indicating upward momentum. The recent price action suggests a bullish bias, with the pair gaining strength against the US dollar. Remember to set appropriate stop-loss orders and manage your risk effectively. The forex market can be volatile, and it's crucial to adapt your strategy if market conditions change.
Long
by saintmaximuz
FOMC Minutes in the Charts: EUR/USD & GBP/USDDuring their June meeting, minutes released on Wednesday indicated that almost all Federal Reserve officials expect further tightening in the future. Despite the majority's belief in upcoming rate hikes, policymakers chose not to increase rates due to concerns about over-tightening. They acknowledged the delayed impact of previous policies and other factors, which led them to skip the June meeting after implementing ten consecutive rate increases. Out of the 18 participants, all but two anticipated at least one rate hike to be appropriate within this year, while twelve members expected two or more hikes. The prevailing consensus that the US central bank will raise borrowing costs by 25 basis points at the end of the July policy meeting has lent some strength to the US Dollar and exerted downward pressure on the GBP/USD and EUR/USD. The DXY (US Dollar Index) surged above 103.30, reaching its highest level of the week. EUR/USD further declined to the 1.0850 region. The outlook for the Euro has turned negative as the EUR/USD pair dropped below the 20-day simple moving average (SMA). If the GBP/USD pair falls below 1.2700 and confirms that level as resistance, the next potential bearish targets could be 1.2680, 1.2658, 1.2647 according to fib retracement levels and previously pivot points.
Editors' picks
by BlackBull_Markets
2
GBPUSD Weekly Outlook: New perspective for the week | Follow-upThis video provides a comprehensive analysis of the bullish and bearish sentiment in GBPUSD, focusing on price action-based technical analysis of support and resistance levels within the 4-hour timeframe. In the previous week, Federal Reserve Chair Jerome Powell emphasizes the necessity for further rate hikes, and adding to the market volatility, the Bank of England surprises with a larger-than-expected rate hike, causing a stir in investor sentiment. This bullish attempt is evident on the charts around the $1.27000 zone, reflecting a momentary boost following the Bank of England's 50 basis point increases to a nearly one-year high. Traditionally, higher interest rates lend support to currencies, but the Pound Sterling faces the risk of a potential recession in the U.K., prompting investors to seek refuge in safe-haven assets like the U.S. dollar. U.K. retail sales data, released recently, reveals a 2.1% annual decline in May, further indicating an economic slowdown. On the U.S. economic front, Federal Reserve Chair Jerome Powell concludes his two-day testimony before Congress, reiterating the potential for at least two more interest rate hikes this year to combat rising inflation. Looking ahead, the trajectory of the Pound Sterling will be influenced by upcoming announcements of Gross Domestic Product data from both economies this week. In light of these latest economic developments, questions arise: If the larger-than-expected rate hike from the Bank of England fails to generate positive price movement for the Pound, how will the United Kingdom navigate its persistent inflationary pressures? This video illustrates a comprehensive analysis of the bullish and bearish sentiment in GBPUSD, focusing on a technical examination of support and resistance levels within the 4-hour timeframe. We uncover how these critical levels can unlock potential trading opportunities for the upcoming week. Notably, I highlighted a key level at the $1.27000 zone, coinciding with the ascending trendline identified in the 4H timeframe. The market's response to this zone at the beginning of the week will wield considerable influence over the direction of price action in the days to come. Stay connected to the channel and remain engaged in the comment section to stay informed about the latest updates and developments. Thank you for watching, and I eagerly anticipate providing you with further insights into my future content. Disclaimer: Trading on margin in the foreign exchange market (including commodities, CFDs, stocks, etc.) carries a high level of risk and may not be suitable for all investors. The content of this speculation (including all data) is provided by me for educational and informational purposes only to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not accept any responsibility for its accuracy. It is important that you carefully consider your investment experience, financial situation, investment objectives, and risk tolerance level, and seek advice from an independent financial advisor to assess the suitability of your situation before making any investment. I do not guarantee the accuracy of the information provided and shall not be held liable for any loss or damage that may arise directly or indirectly from the content or the receipt of any instructions or notifications related to it. Please note that past performance is not necessarily indicative of future results.
by darcsherry
1
GBPUSD Forecast 18June2023if you look at the shape of the swing structure that occurs, at first glance it looks like a cup & handle pattern will occur. we only assume based on market habits, usually if a curve like this has been formed, another shape will occur. At least we can anticipate, if you want to go long, it's better to wait until the price retraces in the H4/D1 Support area. Looking at the position of the fibo extension, it also supports the analysis that this pair is likely to be bullish until the D1 Resistance area where the area is also the fibo extension point of 2,618.
by Hokusai_FX