GBPUSD Looks To Continue Long Trend
GBPUSD technically has been bullish on the daily chart as the DXY has been quite bearish since November. The pound looks to continue its uptrend as with EURUSD. This is quite an overbought level there may be profit taking towards the end of the month also. I am looking for long buy trades at the right time, perhaps a little lower from here for a continued uptrend. The overall trend of GBPUSD is quite bullish for now as the DXY continues to fall under pressure.
The US Fed hiked interest rates by 0.25% last week which was expected but slightly higher than the previous month. The slowing of rate hikes has aided the weakness of the DXY, strength of the pound sterling, and other non US currencies in the major basket. Tomorrow the UK will release GDP news, GDP (QoQ) (Q4)
Act: TBA, Cons: -0.2%, Prev: -0.2%. The expected number is -0.2% with a previous value of also -0.2%.
The US Fed hiked interest rates by 0.25% last week which was expected but slightly higher than the previous month. The slowing of rate hikes has aided the weakness of the DXY, strength of the pound sterling, and other non US currencies in the major basket. Tomorrow the UK will release GDP news, GDP (QoQ) (Q4)
Act: TBA, Cons: -0.2%, Prev: -0.2%. The expected number is -0.2% with a previous value of also -0.2%.