- Outlook GBP remains under pressure while investors turn to US dollars for its safe appeal.
- Merchants are looking forward to the speech of Boe HUV PILL and FOMC records to measure the direction.
- Technically, the couple signals the bear trend and trades around 1,34.00.
GBP / USD Outlook shows the chest bias, trading around 1,3400, because investors escaped to the American dollar in the middle of the growth of demand for safe haven.
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The American DXI gained 0.35%, raising at 99.0, marking two-monthly large in the middle of increased global instability. With the choice of Japanese ruling party Sinae Takayichi as their new leader and resignation of French Prime Minister Sebastian Lecorn, traditional secution of dollar status is updated.
At the home front, the current shutdown of the American government, now in the second week, is a threat to recover dollars. The market remains cautious because Donald Trump warns the further reduction of well-being and federal dismissals. Despite this, USD remains stable because investors predict raising the shutdown. The traders carefully observe the decrease in the Federal Rate and the edition of the FOMC for a clear policy direction.
On the UK side, the pound remains under pressure while investors today await the chief economist HUV PILL’s. Speech is expected to mark the monetary appearance of the central bank. Boe is its cautious relief of the point of view due to the growth of inflation and slowing down economic slowdown, after maintaining rates in September at 4.0%.
Sterling keeps bears due to the possibility of further reductions of the grade this year. All in all, the GBP / USD pair shows the fall trend, and the US dollar gains strength until the pound requires support from British cautious monetary policy and feeds on mitigate.
GBP / USD Key events forward
- Fomc minutes
- Fed’s Kaqaqi Speech
Today, traders predict a minute minutes and football Kashkari. Both events are important because the markets will assess the position of the Central Bank regarding the slowing growth due to exclusion.
GBP / USD Technical Outlook: Slightly supported around 1,3400
GBP / USD 4-hour chart indicates that the bearing bears such as the price starts below 50-, 100- and 200-period moving on average. This confirms the declining structure. Recently refusing close to the 50th of the May signals that defend higher levels, the couple still does not maintain the zone of 1,3440-1,3460, confirming the trend.
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RSI currently contains close to 42, which includes bear movement, but it still has not resold, and the room for more shortcomings still exists. About breaking below 1,3370, it could move towards 1,3320. However, to convert short-term bias in a neutral direction, the couple must recover 1,3450, which is a key resilience zone.
The overall feeling indicates a negative view. The paragraph will probably remain under pressure until the bullpain swing is taken over and the customers return to control over the 50th.
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