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Federal Reserve Chairman Powell hinted at rate cuts this year during the recent congressional testimony on monetary policy expansion, leading to a weakening dollar. However, with US inflation indicators scheduled for release ahead of the March 20th FOMC meeting, clearer signals regarding rate cuts are anticipated.
- On March 8th, the US Nonfarm Payrolls for February will be released.
- On March 12th, the US Consumer Price Index for February will be released.
- On March 13th, the UK's Monthly Gross Domestic Product will be released.
- On March 14th, the US Producer Price Index for February will be released.
The GBPUSD chart continues to trend upwards, supported by the trendline of the current trend. While upward movement towards the upper trendline is expected to continue in line with the trend, it's important to consider the long-term perspective and be prepared for the possibility of encountering resistance at the 1.30000 line before that.
Expected movements include:
1. Short-term upward movement within the current trend, increasing towards the upper trendline.
2. Medium to long-term upward movement towards the upper trendline following a short-term decline from resistance at the upper trendline, followed by a rebound.
If there are unexpected movements such as breaking below the lower support line, adjustments to the strategy will be made promptly.
Please share your personal opinions in the comments. Boosters and subscriptions are appreciated.
Federal Reserve Chairman Powell hinted at rate cuts this year during the recent congressional testimony on monetary policy expansion, leading to a weakening dollar. However, with US inflation indicators scheduled for release ahead of the March 20th FOMC meeting, clearer signals regarding rate cuts are anticipated.
- On March 8th, the US Nonfarm Payrolls for February will be released.
- On March 12th, the US Consumer Price Index for February will be released.
- On March 13th, the UK's Monthly Gross Domestic Product will be released.
- On March 14th, the US Producer Price Index for February will be released.
The GBPUSD chart continues to trend upwards, supported by the trendline of the current trend. While upward movement towards the upper trendline is expected to continue in line with the trend, it's important to consider the long-term perspective and be prepared for the possibility of encountering resistance at the 1.30000 line before that.
Expected movements include:
1. Short-term upward movement within the current trend, increasing towards the upper trendline.
2. Medium to long-term upward movement towards the upper trendline following a short-term decline from resistance at the upper trendline, followed by a rebound.
If there are unexpected movements such as breaking below the lower support line, adjustments to the strategy will be made promptly.