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GBP/USD, FTSE Forecast: How could the UK election impact the markets?

The countdown to 4th July, election day is on, and the polls have broadly continued to show the same pattern we've seen across the course of the election campaign: Labour retaining their lead of around 20 points above the Conservatives. Here, we take a look at what a Labour win could mean for the pound and FTSE index.

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GBP/USD: Cable dangles above support as bears seek downside break

This week comes across as a pivotal one for GBP/USD, teetering above technical support ahead of arguably the most important data release worldwide when it comes to the global interest rate outlook, the US core PCE deflator. If the recent price action is any indication, risks look to be building to the downside.

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Yesterday 12:24 PM
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EUR/USD, GBP/USD outlook undermined as US dollar extends rise – Forex Friday

The dollar has strengthened thanks to weakness in European PMI data released earlier today and ongoing concerns about the upcoming elections in France and the UK, both holding back the euro and pound. Meanwhile a surprise rate cut by the SNB hurt the franc on Thursday, which was followed by a marginally more dovish Bank of England rate decision than expected.

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GBP/USD forecast: Pound drops as BoE hints at rate cuts

The MPC voted 7-2 to hold rates, with Dhingra and Ramadan again voting to cut rates. But the fact that this decision was "finely" balanced means the balance could shift towards a cut should economic conditions deteriorate, or inflation does not accelerate again.

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June 20, 2024 11:07 PM
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GBP/USD, FTSE Forecast: Two trades to watch

GBP/USD awaits the BoE rate decision. FTSE 100 rises ahead of the BoE rate decision.

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GBP/USD, Oil Forecast: Two trades to watch

GBP/USD rises as inflation finally reaches the BoE's 2% target.Oil steadies amid geopolitical concerns and a build in crude stockpiles.

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June 19, 2024 06:43 PM
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GBP/USD, USD/JPY Forecast: Two trades to watch

GBP/USD unchanged as the UK economic recovery stalls. USD/JPY rises ahead of CPI data & FOMC.

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GBP/USD, EUR/USD Forecast: Two trades to watch

GBP/USD falls as wage growth eases and the labour market loosens. EUR/USD steadies as the dust settles after the weekend elections.

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GBP/USD: Fading UK wages, unemployment data given bigger risk events ahead

GBP/USD looks set to remain in the trading range it’s been stuck in for weeks despite the arrival of wages and unemployment data from the UK later Tuesday, with traders likely to fade any significant moves ahead of the Fed interest rate decision and US inflation report on Wednesday.

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June 11, 2024 01:34 PM
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GBPUSD Outlook: Key Levels to Watch

GBPUSD outlook: Non-Farm Payrolls halted 3-month highs, what’s next for CPI and FOMC?

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June 10, 2024 11:30 PM
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GBP/USD forecast: Fed dot plot, US inflation set to shake things up

The Federal Reserve June FOMC meeting and US consumer price inflation for May look set to dictate directional risks for GBP/USD this week, overriding anything on the UK calendar including Britain’s unemployment report. Risks look skewed to the downside.

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June 9, 2024 06:00 AM
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GBP/USD, DAX Forecast: Two trades to watch

GBP/USD falls as the USD recovers ahead of factory orders & Job openings. DAX struggles amid a cautious mood ahead of Thursday’s ECB meeting.

British Pound Forecast: GBP/USD Tests 1.28 Resistance, UK Election in One Month

GBP/USD remains in a longer-term uptrend ahead of the UK election, so traders may be keen to buy any dips toward the 50-day EMA near 1.2600 this week.

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Forex Seasonality – June 2024: Potential for EUR/USD and AUD/USD Rallies, USD/CAD Drop

June has historically been the 3rd-best month of the year for EUR/USD and AUD/USD - will we see strength this year?

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EUR/USD, GBP/USD: Sucked down the gurgler as US bond auctions flop

When the US government is forced to pay up to fund its ballooning deficit, it means it needs to attract capital from somewhere, be it other asset classes or regions. EUR and GBP are not immune to the global drain towards the US dollar.

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May 30, 2024 09:55 AM
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GBP/USD, DAX Forecast: Two trades to watch

GBP/USD steadies ahead of US consumer confidence & Fed speakers. DAX inches higher after wholesale prices fall & ahead of a big week for inflation.

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May 28, 2024 06:15 PM
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GBP/USD, NZD/USD: Bullish breaks bring tougher tests on the horizon

GBP/USD and NZD/USD look bullish on the charts, breaking to fresh multi-month highs. With a light calendar in the UK and New Zealand, positioning tweaks ahead of Friday’s key US PCE inflation report looks set to drive the price action in the coming days.

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May 28, 2024 01:08 PM

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British Pound Technical Forecast: GBP/USD, GBP/JPY, EUR/GBP

It was another strong week for the British Pound as Core CPI came out well-above the expectation, leading to a 1.2750 test in GBP/USD and a 200.00 test in GBP/JPY.

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GBP/USD, DAX Forecast: Two trades to watch

GBP/USD above 1.27 as the country gears up for an election. DAX rises on Nvidia optimism, PMIs in focus.

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GBP/USD, USD/JPY Forecast: Two trades to watch

GBP/USD jumps after hotter-than-expected CPI data. USD/JPY rises ahead of FOMC minutes.

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GBP/USD forecast: Cable stands firm despite hopes of soft UK CPI

GBP/USD has rallied 3.5% since April's low despite favourable yield differentials with the US. Yet price action on the daily and H4 charts suggests a minor pullback may be due.

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May 22, 2024 12:34 PM
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DAX, GBP/USD Forecast: Two trades to watch

DAX falls amid rate uncertainty. GBP/USD hovers around 1.27 ahead of Bailey& Fed speakers.

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GBP/USD outlook: Currency Pair of the Week - May 20, 2024

Our GBP/USD outlook remains bullish, mainly due to our bearish US dollar forecast. On the GBP side of the equation, the Bank of England is getting closer to cutting interest rates, although the market seems to be looking past this. Domestically, the focus this week is on UK inflation data, which is expected to cool, potentially cementing expectations that the central bank will cut rates in June.