GBPUSD Insight
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Key Points
- Japan’s real wages, excluding the impact of December’s price fluctuations, rose by 0.6% year-over-year for the second consecutive month. The increase in real wages has drawn attention to the possibility of a Bank of Japan rate hike.
- The Eurozone's January composite PMI rose to 50.2 from 49.6 in the previous month, an increase of 0.6 points, indicating an expansion in the private sector, including manufacturing and services.
- According to the U.S. ADP National Employment Report, private employment increased by 183,000 in January, significantly exceeding market expectations. Meanwhile, the ISM Services PMI for January fell to 52.8 from 54.0 in the previous month.
- Considering signs of economic weakness in the U.K. and the potential for short-term inflationary pressures, the Bank of England is expected to cut interest rates by 25 basis points in its first monetary policy meeting of the year.
Key Economic Events This Week
+ February 6: Bank of England Interest Rate Decision
+ February 7: U.S. January Nonfarm Payrolls, Unemployment Rate
GBP/USD Chart Analysis
The pair recently found support around the 1.21000 level and rebounded, recovering up to 1.25000. If it successfully breaks through this resistance zone, further upside toward 1.27000 could be expected. However, if it faces resistance at 1.25000, there is a high probability of a decline toward 1.20000. Since the Bank of England’s rate decision is scheduled for today, monitoring price action around the 1.25000 level will be crucial in determining the short-term trend.
Please share your personal opinions in the comments. Don't forget to like and subscribe!
Key Points
- Japan’s real wages, excluding the impact of December’s price fluctuations, rose by 0.6% year-over-year for the second consecutive month. The increase in real wages has drawn attention to the possibility of a Bank of Japan rate hike.
- The Eurozone's January composite PMI rose to 50.2 from 49.6 in the previous month, an increase of 0.6 points, indicating an expansion in the private sector, including manufacturing and services.
- According to the U.S. ADP National Employment Report, private employment increased by 183,000 in January, significantly exceeding market expectations. Meanwhile, the ISM Services PMI for January fell to 52.8 from 54.0 in the previous month.
- Considering signs of economic weakness in the U.K. and the potential for short-term inflationary pressures, the Bank of England is expected to cut interest rates by 25 basis points in its first monetary policy meeting of the year.
Key Economic Events This Week
+ February 6: Bank of England Interest Rate Decision
+ February 7: U.S. January Nonfarm Payrolls, Unemployment Rate
GBP/USD Chart Analysis
The pair recently found support around the 1.21000 level and rebounded, recovering up to 1.25000. If it successfully breaks through this resistance zone, further upside toward 1.27000 could be expected. However, if it faces resistance at 1.25000, there is a high probability of a decline toward 1.20000. Since the Bank of England’s rate decision is scheduled for today, monitoring price action around the 1.25000 level will be crucial in determining the short-term trend.
네이버 카페 :
cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
네이버 카페 :
cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
cafe.naver.com/autumnis
오픈 카톡방 :
pf.kakao.com/_txlKqxj/chat
텔레그램 :
t.me/shawntimemanager
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.