GBPUSD Insight
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Key Points
- Bank of Japan Governor Kazuo Ueda stated that the decision on whether to raise interest rates will be discussed and decided at the January 23-24 meeting.
- U.K. CPI rose by 2.5% year-over-year, falling short of expectations. Service inflation hit 4.4%, the lowest level since March 2022. Following this news, gilt yields plunged, easing concerns about fiscal deterioration.
- U.S. December CPI increased by 2.9% year-over-year, aligning with expectations. However, core CPI rose by 3.2%, missing forecasts. Markets seemed to focus on core CPI, with Federal Reserve members noting improvements in inflation trends.
This Week’s Key Economic Events
+ January 16: U.K. November GDP, Germany December CPI, U.S. December Retail Sales
+ January 17: Eurozone December CPI
GBP/USD Chart Analysis
Following a sharp decline, GBP/USD dropped to the 1.21000 level but rebounded strongly after confirming its bottom. However, it faced resistance at the 1.23000 level, giving back some of its gains, suggesting potential for further declines. The downside bias remains, with a possible test of the 1.20000 level. On the other hand, if GBP/USD breaks above the 1.23000 level, it could shift to an upward bias, potentially rising toward the 1.25000 level.
I’m glad to see you all here. Please feel free to share your personal opinions in the comments. Don’t forget to like and subscribe!
Key Points
- Bank of Japan Governor Kazuo Ueda stated that the decision on whether to raise interest rates will be discussed and decided at the January 23-24 meeting.
- U.K. CPI rose by 2.5% year-over-year, falling short of expectations. Service inflation hit 4.4%, the lowest level since March 2022. Following this news, gilt yields plunged, easing concerns about fiscal deterioration.
- U.S. December CPI increased by 2.9% year-over-year, aligning with expectations. However, core CPI rose by 3.2%, missing forecasts. Markets seemed to focus on core CPI, with Federal Reserve members noting improvements in inflation trends.
This Week’s Key Economic Events
+ January 16: U.K. November GDP, Germany December CPI, U.S. December Retail Sales
+ January 17: Eurozone December CPI
GBP/USD Chart Analysis
Following a sharp decline, GBP/USD dropped to the 1.21000 level but rebounded strongly after confirming its bottom. However, it faced resistance at the 1.23000 level, giving back some of its gains, suggesting potential for further declines. The downside bias remains, with a possible test of the 1.20000 level. On the other hand, if GBP/USD breaks above the 1.23000 level, it could shift to an upward bias, potentially rising toward the 1.25000 level.
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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.