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GBP Technical Analysis

This is a discussion on GBP Technical Analysis within the Forex Trading forums, part of the Trading Forum category; Inflation data next week is expected to beat estimates again and UK finance minister Sunak contemplates billions more in spending ...

      
   
  1. #161
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    Sterling (GBP) Fundamental Forecast

    GBP Technical Analysis-gbpusd-d1-acy-securities-pty-2.png


    Inflation data next week is expected to beat estimates again and UK finance minister Sunak contemplates billions more in spending to ease the cost-of-living squeeze

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  2. #162
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    GBP Forecast Q2 2022

    GBP Technical Analysis-gbpusd-w1-acy-securities-pty.png


    The Bank of England (BoE) is expected to raise UK interest rates further in the second quarter of 2022 as the UK central bank tries to stem soaring prices pressures. The BoE has already lifted the Bank Rate to 0.75% from 0.1% in late 2021 and money markets are currently pricing in 125 basis points of additional rate hikes this year. The latest Office for National Statistics (ONS) inflation release showed headline inflation hitting 6.2% in February, a fresh 30-year high, while core inflation rose to 5.2% from 4.4% in January. And even higher levels of inflation are expected in Q2 this year. The latest BoE monetary policy release shows that the UK central bank expect headline inflation to top 8% in the coming months, citing sky high energy and food prices as the main drivers of the move.

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  3. #163
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    GBP Forecast Q2 2022

    The Bank of England (BoE) is expected to raise UK interest rates further in the second quarter of 2022 as the UK central bank tries to stem soaring prices pressures. The BoE has already lifted the Bank Rate to 0.75% from 0.1% in late 2021 and money markets are currently pricing in 125 basis points of additional rate hikes this year. The latest Office for National Statistics (ONS) inflation release showed headline inflation hitting 6.2% in February, a fresh 30-year high, while core inflation rose to 5.2% from 4.4% in January. And even higher levels of inflation are expected in Q2 this year. The latest BoE monetary policy release shows that the UK central bank expect headline inflation to top 8% in the coming months, citing sky high energy and food prices as the main drivers of the move.

    GBP Technical Analysis-gbpusd-h4-alpari-2.png


    Daily and intra-day price is located far below 200 SMA and 100 SMA in the bearish area of the chart.
    The price is trying to break 1.2999 support to below for the primary bearish trend to be continuing.

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  4. #164
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    Pound Weekly Forecast

    UK retail sales and US inflation are major event risks next week.

    GBP Technical Analysis-gbpusd-d1-alpari-2.png


    The daily price is located below Ichimoku cloud in the bearish area of the chart: the price is on ranging within 1.2666 resistance level for the bear market rally to be started with 1.2957 target to re-enter and 1.2457 support level for the bearish trend to be continuing with with 1.2165 re-enter target for possible daily breakdown.

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  5. #165
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    British Pound (GBP) Weekly Forecast

    GBP Technical Analysis-gbpusd-d1-alpari.png


    The pound looks to begin next week on the backfoot after stronger than expected NFP results played into dollar strength.
    The daily price is below Ichimoku cloud for the bearish ranging within support/resistance levels waiting for the direction of the rally to be started or the strong bearish trend to be continuing.

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  6. #166
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    GBP/USD - symmetric triangle pattern to be broken for the bear market rally

    GBP Technical Analysis-gbpusd-d1-alpari-3.png


    The Federal Reserve interest rate decision may undermine the recent rebound in GBP/USD if the central bank steps up its effort to combat inflation. The daily price broke symmetric triangle pattern to above for the bear market rally to be started with 1.20 resistance level to be crossed for the rally to be continuing.

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  7. #167
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    GBP/USD Weekly Forecast

    GBP Technical Analysis-gbpusd-d1-alpari.png


    GBP Suffers on the BoE’s Bleak Outlook. The daily price is trying to break the bullish triangle pattern with resistance level at 1,2292 to above for the possible daily bullish rebersal to be started.

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  8. #168
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    British Pound (GBP) Forecast

    GBP Technical Analysis-gbpusd1308.png


    The British Pound is in for a rough ride next week with the latest employment, wages, retail sales, and inflation data all set for release. The high impacted news events for the next week are the following:
    - United Kingdom Claimant Count Change, and
    - United Kingdom Retail Sales.

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  9. #169
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    British Pound Fundamental Forecast

    GBP Technical Analysis-18january.png


    The British Pound pushed higher against the US Dollar this past week as softening US inflation data boosted less hawkish Federal Reserve policy bets. GBP/USD turns to UK CPI next.

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