GBP USD

GBPUSD Analysis: with the upcoming BOE statement, CPI metrics, and Flash PMI results, April highs are challenged for further bull runs

US jobless claims data will garner far more interest than usual later Thursday as traders assess whether last week’s unusually large increase was an anomaly or start of a new trend. Testing a key level on the charts, two-way risk created by the data makes GBP/USD a pair to keep on the radar.

GBP/USD unmoved as traders shrug off wage data. DAX eases from record high ahead of German ZEW economic sentiment & US PPI.

Incoming UK data today could be the difference between the BOE cutting or holding in June. Add into the mix US producer prices and Powell speech, GBP/USD us a key market for forex traders to watch today.

GBP/USD has been supported by stronger UK GDP ahead of wages data on Tuesday. Meanwhile, the US dollar has been hit by signs of cooling labour markets ahead of key inflation data on Wednesday. GBP/USD technical analysis points higher after breaking a bearish trend.

GBP/USD slipped last week on a moderately dovish BOE – what should traders be watching this week?

Welcome to another edition of Forex Friday, a weekly report in which we highlight selected currency themes. In this week’s report, we will discuss the British pound, US dollar and look ahead to the next week.

GBP/USD falls ahead of the BoE rate decision. USD/JPY rises despite a more hawkish BoJ.

GBP/USD falls ahead of the Fed. USD/JPY pair extends its rebound ahead of the Fed & after Japanese manufacturing PMI data.

May has historically been the second-worst month for EUR/USD (-0.62%) and GBP/USD (-0.37%) - see what to watch for from the other major currency pairs!

The US dollar rally has stalled, and the longer is fails to extends its gains the greater the odds of a pullback. For today, flash PMIs have placed GBP/USD and EUR/USD into focus.

GBP/USD remains in “sell rallies” mode, so bullish readers will want to be nimble against a broader backdrop that favors more downside from here.

Divergent economic and monetary policy outlooks for the US and UK continue to weigh on GBP/USD, making the case for downside a far easier sell than for upside right now.

GBP/USD attempts to recover after CPI cooled less than expected. DAX inches higher ahead of Eurozone inflation data & after ASML earnings.

GBP/USD held at a five-month low after jobs data and ahead of Fed Chair Powell's speech. Oil rose after China's GDP growth and amid ongoing Middle Eastern tensions.

The GBP/USD could be impacted significantly by UK CPI data this week. For now, markets are calm as Iran tensions have eased, but the situation remains volatile, likely to keep risk appetite low. The GBP/USD outlook is bearish as US dollar is likely to remain supported on any short-term dips.

Risk assets tumbled on Middle East tensions, adding additional pressure on the cable on Friday with US dollar already on the rise. Key UK inflation data is coming up in the week ahead, as GBP/USD technical analysis point lower after breaking 1.25 key support.