- GBP / USD Outlook shows constant pounds because market participants are looking at development tariffs.
- Trump threatened to impose 50% tariff on the import of copper.
- Merchants await the GDP report in the UK.
GBP / USD Outlook shows constant pounds because market participants are looking at development tariffs. The Boe report found that the risks of financial markets remain, especially from the American tariffs. Meanwhile, market participants are awaiting GDP report in the UK, scheduled for release on Friday.
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Recent Trump Trump Tariff Through weight on most major currencies except pound. The United Kingdom has already signed trade with the United States who provides some protection against major tariffs. However, the United Kingdom economy cannot avoid the global impact of these imposes. Trump threatened to impose a 50% tariff on the import of copper, which could come out to new trading wars. These conflicts are likely to harm the global economy, which includes the UK.
The report that published the Bank of England on Thursday revealed concern about the impact of tariffs. He stated that the risks of financial markets remain high. Therefore, policy makers can prefer caution in the face of insecurity. However, they could be forced to lower rates in the event of slowdowning economic slowdown.
Meanwhile, traders await the GDP report in the UK. Economists expect 0.1% growth compared to previous 0.3% contraction.
GBP / USD Key events Today
GBP / USD Technical Outlook: Narrow range points for breaking break
On the technical page, the GBP / USD price paused on a solid zone containing the key level 1,3600 and a 0,5 Fib retrew level. However, the price remained below the 30ths, with RSI slightly below 50 years, supporting the bear bias.
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Initially, bears took charge of a solid swing, pushing the price below 30th. However, this swing began fading after the price reached level 1,3600. The price began trading in corrective plants, and SMA line flattened. This is a sign that no bears or bulls are willing to make big swings. Also indicates indecision.
However, as the range is narrowed, the price will soon be broken above the SMA or below the support zone. Sma pause would signal the shift in feeling. On the other hand, the break below the support zone would allow GBP / USD to target the level of 1,3400 support.
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