On a long-term basis we would remain on the sidelines at the moment, until we see that pair is stable above 1.30 area. However, selling is not an option at the moment.
GBP/USD Weekly Forecast – 24 July – 28 July
Sterling was initially pushed higher in the course of the yesterday's session going all the way to 1.31 handle where pair found plenty of resistance and spent rest of the week in a decline going all the way to 1.2930 area, where pair found some amount of support and finish the week around 1.30 handle. AS for next week we would be focused on UK GDP figures. On a short-term basis, we believe that pair will find some amount of support around 1.2930 and 1.2880 area initially next week, while area above 1.31 handle should offer some amount of resistance.
- Popular
-
UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most… -
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures… -
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports… -
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…
Tags
aud/usd2605
boe106
brexit96
china122
cpi147
daily fundamental2278
daily technical2199
ecb113
eur/usd1497
eurozone88
EurUsd1227
forex8896
gbp/usd1447
GbpUsd1111
gdp95
industrial production106
inflation73
interest rates219
ppi93
rba91
resistance71
retail sales125
support71
trade balance108
uk188
unemployment claims160
unemployment rate122
usd1004
weekly fundamental565
weekly technical419