- GBP / USD Price Analysis Displays the pound permanent after a recent collapse.
- The United States has promised to guarantee the safety of Ukraine in the case of a peace agreement.
- Rates in the amount of 80% chance that the rate of feet cut in September.
GBP / USD Price Analysis Displays kilogram stable after recent collapse due to the power dollar. The dollar paused his rally as a safe demand for a safe haven fell after the Trump meeting and the green ended. Meanwhile, the focus is transferred to the Jackson hole symposium for traces on reduction rate on the supply agents.
The Trump meeting and green went well, with two leaders, they appear to be on the same page. The United States promised to guarantee the security of Ukraine in the case of a peace treaty with Russia. Last week, the meeting between Trump and Putin also finished well. The American president noted that Putin is more willing to work in a peace agreement instead of dealing with a ceasefire agreement. However, markets remain uncertain in the future.
By the way, the Fed will meet during the Symposium of Jackson Hole, and the traders will watch Powel’s tone. After recent American data, retailers price prices over 80% chance of the cut in September. Moreover, they expect policy makers to sound more goodbye. However, experts warned that Powell may not give a clear signal to reduce the rate.
GBP / USD Key events Today
Participants in the market do not provide for any high-tough economic editions from the United Kingdom or the United States.
GBP / USD Technical price analysis: Action Price signals a new trend
On the technical page, GBP / USD price broke below 30-SMA after it has not broken above the level of resilience at 1,3575. Pause means a bear transition to feeling. At the same time, the RSI violated below 50, suggesting the growth of bears.
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Initially, the price of climbing in the developed bikal trend, with prices in price above the 30th. However, the price failed to make greater when the bulls met the level of resilience at 13575. Instead, he made lower and broke below the SMA to make a lower low. This form shows the start of trends.
However, bears must keep the price below SMA and respect it as resistance. If this happens, the price is likely to be reduced to re-set support level 1,3401. On the other hand, if the bulls regain swing, the price is likely to reset resistance to 1,3575.
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