- The GBP / USD forecast remains slightly positive before the decision of the war foot.
- Macroeconomics in the UK keep bluring overall pound outlook.
- MPC Voting Split is important to look at each other together with the decision of Boe.
GBP / USD Forecast is a little positive as if the couple managed to regain handle 1,3300 on Wednesday before the English decision on Thursday. Despite the gentle gains, the feeling remains cautious because traders are more difficult for weaker in Britain.
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The central bank in the UK decreased interest rates for 25 BPS to 4.0%, and more feet is spreading later this year. The decision comes at a time when inflation remains stubbornly high, about twice from 2% color. In the meantime, signs of slowdowning economic slowdown hold the creatries of politics under pressure to support growth.
The main concern is the construction sector in the UK, which showed the sharpest contraction over more than five years. Construction PMI fell to 44.3 in July, down from June 48.8. This is the lowest reading since May 2020. year, during the pandemic.
It is, in combination with softer economic data, strengthened the chances of Boe’s interface. Although high inflation discourages central banks from cutting rate, it seems to be a priority supporting growth in the short term. The recent stroke of the pound shows a complex balance of power, including loose monetary policy, greater inflation and economic data of falls. Despite short-term optimism, the total view remains blurred by macroeconomics.
All the eyes are now in the decision of Christ on Thursday, which could set the GBP / USD tonight in the coming weeks. The breeze tone or deeper than the expected solution can put further pressure per kilogram, while the more cautious approach could offer temporary relief.
GBP / USD Technical forecast: The bulls target for 1,3370
The four-sea card for GBP / USD pair shows a slight momentum, remaining above the 20-period SMA. The price is gradually moving to test pre-corrupt support that acts as resistance about 1,3370. The ultimate goal lies in the 200-period of MA near 1.3500. Above this level, bias will be facing strongly by battles.
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The RSI also moved above 50.0 brand, proposing space for more profits. However, the momentum is not strong enough and lacks the catalyst to push outside the resistance level.
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