šFundamental Analysis
Fed: Cut interest rates by 25 basis points Signals that there could be two more cuts this year due to concerns about a weak labor market. Emphasizes that inflation risks are still tilted to the upside, the rate cut is risk management. The Fed will be cautious, waiting for each meeting to continue to assess.
USD market: Initially down but reversed to increase sharply after the FOMC meeting. However, the increase is difficult to maintain, supporting GBP/USD to recover.
GBP & BoE: GBP is supported as expectations of an immediate BoE rate cut gradually decrease. BoE is expected to keep interest rates unchanged due to high inflation
šÆTechnical Analysis
GBPUSD fell sharply at the end of the week, aiming for technical support at 1.342 and 1.335 next week. Pay attention to the price reaction at this support zone to have a BUY strategy towards the resistance levels of 1.353 and 1.358. If strong selling pressure appears from the resistance zone, it can create a long downtrend for this currency pair.
šTrading Signals
BUY GBPUSD 1.33500-1.33300 Stoploss 1.33000
SELL GBPUSD 1.35800-1.36000 Stoploss 1.36300
Fed: Cut interest rates by 25 basis points Signals that there could be two more cuts this year due to concerns about a weak labor market. Emphasizes that inflation risks are still tilted to the upside, the rate cut is risk management. The Fed will be cautious, waiting for each meeting to continue to assess.
USD market: Initially down but reversed to increase sharply after the FOMC meeting. However, the increase is difficult to maintain, supporting GBP/USD to recover.
GBP & BoE: GBP is supported as expectations of an immediate BoE rate cut gradually decrease. BoE is expected to keep interest rates unchanged due to high inflation
šÆTechnical Analysis
GBPUSD fell sharply at the end of the week, aiming for technical support at 1.342 and 1.335 next week. Pay attention to the price reaction at this support zone to have a BUY strategy towards the resistance levels of 1.353 and 1.358. If strong selling pressure appears from the resistance zone, it can create a long downtrend for this currency pair.
šTrading Signals
BUY GBPUSD 1.33500-1.33300 Stoploss 1.33000
SELL GBPUSD 1.35800-1.36000 Stoploss 1.36300
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JOIN OUR FREE TELEGRAM GROUP t.me/tvstrading
MESSAGE US FOR VIP SIGNALSš t.me/Leilani8597
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.