- Outlook GBP / USD shows a solid jump in the United Kingdom economy.
- Data on Thursday, they discovered that the economy in the UK spread by 0.4%.
- Top American government officials invite a great price.
GBP / USD Outlook shows a solid jump in the UK economy, which dropped the bets with war marks and amplifiers kilogram. At the same time, the UK currency in the UK climbs until the dollar remains weak in the middle of an increase in expectations on the spreadstate.
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Data on Thursday found that the economy in the UK was expanded by 0.4% per month, beating forecasts of 0.2%. Moreover, it was a significant improvement from the previous month when the economy is reduced by 0.1%. The ruin data makes it easy to pressure on the English bank to reduce interest rates. The policy makers are worried about high inflation. The strong economy would allow them to dispose of the reduction in the rate and let the price pressure fall.
Meanwhile, the dollar remained weak after soft inflation led to surge in expectations to reduce the rate. Currently, market participants almost completely prices in September. Moreover, the probability of 50 BPS for for-a is 7% now.
After weak job data, political pressure was mounted, and the most important government officials invite to reduce the great rate. The Bessent Ministry of Finance said that the Central Bank will be able to cut rates for 50 BPS to compensate for lost time.
GBP / USD Key events Today
- US Cere PPI M / M
- US PPI M / M
- Unemployment Notices USA
GBP / USD Technical Outlook: Override near Resistance 1,3575
On the technical page, the price of GBP / USD made new heights, pausing near resilience at 1,3575. The price is now well seated above the 30th, which shows that the bulls have strong leadership. Meanwhile, RSI trades in the region for excessive ignor, suggesting a solid molbar momentum.
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The bulls kept a solid rally, and trade prices above 30ths, with several pulls. However, the latest swing high has pushed the price on transfer levels. Thus the bulls may be a little time to breathe before they continue.
At the same time, the fact that the price reached 1,3575 key resistance levels means that some customers will begin to take profits. It can take a break or return before the trend continues. The break over the resistance will strengthen the bias of the bull.
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