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Several important indicators, including the GDP of the UK from the previous day, have been released, and on Tuesday, the US Consumer Price Index for February was announced. As a result, we've seen some increased volatility in GBPUSD. With next week's FOMC meeting of the Federal Reserve looming, and with indicators continuing to be released, how these indicators are interpreted could also give us clues about the timing of the Fed's interest rate cuts.
- On March 14th, the US Retail Sales for February and Producer Price Index for February will be announced.
- On March 18th, the Eurozone Consumer Price Index for February will be announced.
- On March 20th, the UK Consumer Price Index for February will be announced.
- On March 21st, the FOMC results will be announced.
The GBPUSD chart is showing an upward trend, supported by recent trends in momentum, pushing it back into the upward trajectory. The ascent to the peak is quite dominant, with breaking through the upper trend being a point we need to watch.
There are two expected movements:
Firstly, a medium-term uptrend towards the peak, smoothly breaking through the trend resistance line at 1.30000.
Secondly, a medium to long-term uptrend towards the peak, following a slight press against the trend resistance line at 1.30000.
If there are any unexpected movements, such as breaking below the lower support line, we will quickly adjust our strategy.