British Pound drops against US Dollar, Fed-BoE policy in focus
The Fed meeting, GDP, PCE inflation and payrolls could drive major forex moves this week. Explore the latest outlook for DXY, EUR/USD and GBP/USD.
GBP/USD Price Forecast: Trades vulnerably near 1.3300 ahead of Fed-BoE policy
Looking at the 4-hour chart, the pair settled below 1.3400, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). There was a drop below the 50% Fib retracement level of the upward move from the 1.3140 swing low to the 1.3555 high.
Weekly technical outlook – Gold, USD/JPY, GBP/USD [Video]
GBPUSD also managed to retreat below 1.3320 which may add more drop pressure over market As we see over the Daily chart a possible triangle formation may hold market inside 1.3140-80 support and 1.3480 resistance Below 1.3140 more drops is likely SUPPORT RESISTANCE LEVEL1 1.3300 1.3400-30 LEVEL2 1.3160 1.3555 LEVEL3 1.3010 1.3655
British Pound: Fiscal risks cap upside against US Dollar – BNY
The Fed, GDP, PCE inflation and payrolls headline a pivotal week for forex markets. Explore the latest outlook for DXY, EUR/USD and GBP/USD.
GBP/USD Price Forecast: VCP breakout likely after Fed-BoE policy announcements
Pound Sterling Price News & Forecast: GBP/USD attracts strong follow-through buying
Another barrage of positive headlines from the Middle East has lifted the euro and sterling while sending energy prices sharp.
The Pound to Dollar exchange rate held near 1.3325 on Friday, having retreated more than two cents from July's high around 1.3558. GBP/USD is still around 0.6% higher this month, but Sterling has struggled to respond to a stronger run of UK economic data.