GBP/USD Weekly Forecast - 26 January - 30 January
Despite rather good job figures, Sterling fell in the course of the last week due to dovish BoE Meeting Minutes but also ECB decision on asset purchase that also had negative impact on Sterling, falling below 1.50 level, though it managed to rebound slightly by the end of the week. We can expect a very volatile next week with the focus on UK GDP and FOMC Statement.
Weaker than expected figures would push pair lower to perhaps 1.49 handle, while better than forecasted data could bring rebound back to 1.51 handle, but with the resistance around 1.5130 area, so these would be our short-term buying and selling points. In long-term trend we have no interest in buying this pair, as we believe that it could go lower, though we would be careful since support from 1.50 handle stretches all the way to 1.48 handle, so there will probably be a lot of sideways trading.
- 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