GBP USD

GBP/USD is soaring on expectations of aggressive Fed rate cuts in 2024, despite Fed Chairman Powell’s protestations...

DAX rises ahead of inflation data. GBP/USD rises to 1.27 on divergent central bank chatter.

DAX slips, German consumer confidence ticks higher. GBP/USD consolidates at a 3-month high ahead of US consumer confidence data.

GBP/USD has continued to take advantage of a weaker US dollar and rise to an 11-week high. And with a high level of volume activity overhead, we see the potential for a move to 1.27.

GBP/USD outlook: Next week US data will include GDP and PCE inflation, as pound finds support with UK services returning to growth. GBP/USD technical analysis point higher.

The UK services was back in growth territory to appease the GBP traders and there was no Turkey for US dollar bulls, with the Greenback fading after Wednesday’s recovery. GBP/USD technical analysis suggests path of least resistance remains to the upside.

EUR/USD rises ahead of Eurozone PMI data. Oil falls further after OPEC+ delays its November meeting.

What does the OPEC+ delaying meeting means for oil prices? And GBP/USD is in focus as pound drops after autumn statement. But was that because of the overall recovery in US dollar, following the release of mostly stronger data?

The US dollar has started the new week trading mixed, rising to a fresh 2023 high against the Japanese yen but falling against the likes of the Aussie and pound. The dollar index closed higher last week. This week, we will have some important economic data to look forward to, including CPI from both the UK and US, which puts the GBP/USD outlook into focus.

With central bank members from the Fed and BOE lined up ahead of tomorrow's US inflation report, GBP/USD is a pair to watch for potential volatility. And whilst the DAX has seen a decent rally from its cycle low, I'm looking for a potential swing high and pullback to 15k.

Following Thursday’s bullish reversal in the dollar on the back of a soft 30-year Treasury auction and hawkish comments by Powell, the key question is whether those gains will last. I don’t think the Fed Chair said anything out of the ordinary, although that’s not to say the dollar won’t necessarily rise further. I mean, you wouldn’t expect him to turn decisively dovish just on the back of a couple of weaker data points.

GBP/USD struggles as UK GDP stalls. USD/JPY grinds higher after a hawkish Fed Chair Powell.

A quick look at the charts suggests the British pound might be nearing a burst of energy, and that could be beneficial for GBP/USD bulls or EUR/GBP bears.

GBP/USD falls ahead of BoE Bailey & Fed Chair Powell’s speeches. DAX falls ahead of German inflation & retail sales data & as after Commerzbank, Adidas earnings.

Both EUR/USD and GBP/USD have found themselves under pressure from a stronger US dollar this week and are at risk of closing lower for a third if traders take any hawkish Fed comments to heart. Yet the daily trend structures mean I am also on the lookout for swing lows for both pairs over the near-term.

GBP/USD edges higher ahead of the US NFP. Oil holds onto yesterday’s gains but is set to fall across the week.

Ahead of the Bank of England’s rate decision, the GBP/USD was holding steady near 1.22 handle, benefitting slightly from the dollar’s weaker response to what was a hawkish hold from the Federal Reserve rate decision. Not many people were expecting a rate hike from the BoE either, with the market attaching a 93% probability of a second consecutive hold after 15 back-to-back interest rate hikes.