- GBP / USD Outlook shows unexpected power in the UK economy.
- Global trade tensions continued, putting pressure on the dollar on the dollar.
- American inflation entered softer than expected at 2.4%.
GBP / USD Outlook shows unexpected power in the Great Britain’s economy, which hit the pound higher. On the other hand, escalating trade war between the United States and China, darkened the look for the growth of American. At the same time, data inflation in previous sessions increased expectations from reducing rates of supply rates.
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Data on Friday found that the British economy has spread by 0.5%, significantly above the estimate of 0.1%. The number of surprises revealed the jump in the economy that could facilitate the pressure on the English bank to reduce borrowing costs. However, experts believe that the influence of Trump tariffs will shed in the UK, injure growth. Therefore, policy makers can wait for more data before deciding on the next move.
Meanwhile, trading tensions have continued, putting pressure on the dollar on the dollar. The war between the United States and China escalated with higher tariffs. Trump imposed a total of 145% of tariffs on Chinese goods. At the same time, China gradually increased counter-tariffs on the import of the United States.
In addition, Trump’s sudden break on reciprocal tariff left many uncertain about future prospects. As a result, investors refuse to American property. Otherwise, data on previous sessions have shown that inflation increases by 2.4% compared to predictations of 2.5%. Downbeat reports increased pressure on Fed to reduce interest rates.
GBP / USD Key events Today
- US Cere PPI M / M
- US PPI M / M
- American Preliminary Uom Consumer Sense
- American preliminary inflation expectations of UOM
GBP / USD Technical Outlook: The bulls set landmarks to 1,3200 resistance
On the technical page, the price of GBP / USD has grown and broken above the main zones of resilience. The price of the price shows the move in Kičija where the price initially fell rapidly before it reversed most of the moves. The price recently smashed above the resistance zone containing 1,3000 key psychological level and a 0,618 FIB retrebation level.
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Currently, the price trades far above the 30th, which shows that the bulls have strong leadership. Meanwhile, RSI trades in a coating region, showing a solid wetland swing. Therefore, the rally could continue at the next obstacle at the level of 1,3200. However, before climbing, the price could be withdrawn to reset 30ths. The break above 1,3200 resistance will strengthen the bias of the bakery because it will make it higher.
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