GBPUSD may continue into bullish phase
The GBP/USD outlook reveals a short-term bullish trend for the GBP driven by seasonal factors, likely pushing the pair toward 1.32–1.33 until mid-December. However, this strength is expected to be short-lived as the USD's dominance, supported by stronger macroeconomic fundamentals, safe-haven demand, and bearish non-commercial trader positioning, comes into play. Exogenous factors and global risk sentiment also favor the USD, which could lead to a reversal, pulling GBP/USD lower to levels around 1.28–1.29 after mid-December. Traders should leverage the temporary bullish momentum while preparing for a likely USD resurgence in the medium term.
The GBP/USD outlook reveals a short-term bullish trend for the GBP driven by seasonal factors, likely pushing the pair toward 1.32–1.33 until mid-December. However, this strength is expected to be short-lived as the USD's dominance, supported by stronger macroeconomic fundamentals, safe-haven demand, and bearish non-commercial trader positioning, comes into play. Exogenous factors and global risk sentiment also favor the USD, which could lead to a reversal, pulling GBP/USD lower to levels around 1.28–1.29 after mid-December. Traders should leverage the temporary bullish momentum while preparing for a likely USD resurgence in the medium term.
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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.