GBPUSD analysis week 24

2. Juni

📌GBP/USD eases from 1.2765, keeping gains modest. GBP/USD hit a two-day peat at 1.2765 during the US session, as US data showed core PCE inflation held steady at 2.8% yoy in the month Private. The pair retreated later as risk aversion triggered demand for the US Dollar.

📌The possibility of the FED cutting interest rates in September is quite low. As the Fed has said they want to see inflation fall for months before considering a move to normalize policy, higher-than-expected inflation would significantly impact markets. FED interest rate cut will be delayed until November. If this index is lower, it will boost the prospect of FED lowering interest rates in September

📌The pair is trading within the border of the uptrend line and is strongly boosted by the EMA 34 and EMA 89 to extend the upward price momentum. The narrow price range of 1,280 and 1,268 that has been maintained continuously for the past two weeks could completely be broken in the next week with further resistance and support levels at 1,288 above and vice versa at 1,265 below.

🕯Trading signals
SELL zone 1.28800-1.29000 SL 1.29300
BUY zone 1.26500-1.26300 SL 1.26000

2. Juni

Trade ist aktiv

3. Juni

Trade ist aktiv

4. Juni

Anmerkung

The Pound Sterling (GBP) corrects from the round-level resistance of 1.2800 against the US Dollar in Tuesday’s New York session. The GBP/USD pair falls after posting a fresh two-month high as the US Dollar (USD) recovers. The US Dollar rebounds as market sentiment turns cautious ahead of the United States Nonfarm Payrolls (NFP) data for May, which will be published on Friday. The labor market will provide fresh cues about when the Federal Reserve (Fed) will start reducing interest rates.

Currently, there is a firm speculation that the Fed will begin lowering borrowing rates from the September meeting. Market expectations for the Fed returning to policy normalisation in September strengthened after the weaker-than-expected United States (US) ISM Manufacturing PMI report for May indicated that the growth outlook of the world’s largest economy appears to be losing momentum. According to the PMI report, US manufacturing activity contracted for a second straight month as “demand remains elusive as companies demonstrate an unwillingness to invest due to current monetary policy and other conditions.”

5. Juni

Anmerkung

The above trendline area was effective in preventing the increase in GBPUSD price. If the pair touches the trend once, the possibility of a break out is quite clear

6. Juni

Trade ist aktiv

6. Juni

Anmerkung

GBPUSD is gradually approaching the resistance zone

7. Juni

Anmerkung

GBP/USD retreats from daily highs, trades below 1.2800
GBP/USD edges lower in the American session on Thursday and trades in negative territory below 1.2800. The cautious market mood helps the US Dollar hold its ground and doesn't allow the pair to stretch higher.