GBP/USD commentary: Will the British pound slide ?
Updated
Bank of England (BoE) Andrew Bailey reiterated BoE Chief Economist Huw Pill's view that inflation is expected to fall sharply, driving the message of "higher interest rates for longer"
The focus of the day will be on statements from Fed officials. Some members still maintain a hawkish stance but the market will focus on Chairman Powell. Other Fed officials will provide investors with an overall picture of the Fed's vision.
Weak Chinese data has made sterling weaker and will be the key component to watch going forward.
GBP/USD has fallen to the 50-day MA (yellow) since the formation of the long upper wick candle, and could be heading towards the psychological level of 1.2200. The medium-term trend leans more towards the downside if market conditions are relatively stable.
The focus of the day will be on statements from Fed officials. Some members still maintain a hawkish stance but the market will focus on Chairman Powell. Other Fed officials will provide investors with an overall picture of the Fed's vision.
Weak Chinese data has made sterling weaker and will be the key component to watch going forward.
GBP/USD has fallen to the 50-day MA (yellow) since the formation of the long upper wick candle, and could be heading towards the psychological level of 1.2200. The medium-term trend leans more towards the downside if market conditions are relatively stable.
Note
💵GBPUSD Sell Limit 1.230 🪙🪙🪙🪙✔️TP1 : 1.225
✔️TP2 : 1.220
❌SL: 1.235
Note
⚡️ running + 80 pips, Close 1/2 and move SL to Entry 🔼🔼🔼⏫⏫⏫
Related publications
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.