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GBP/USD Outlook: MT4.MT5 News Trend

发布时间：2022-08-25 浏览：115

GBP/USD fundamental outlook

 

 

Affected by the upheaval in UK politics last week (July 7), GBP/USD rebounded modestly, but the pair will remain under pressure as the risk of the UK economy falling into "stagflation" is growing. Currently, Boris Johnson will remain in power until a new leader is elected, which will take about six weeks.

 

 

 

This Wednesday at 14:00 (GMT+08:00), the UK will release May GDP data, which may increase market concerns about the fundamental outlook of the pound.

 

 

In addition, Bank of England Governor Bailey will speak at the official forum of monetary and financial institutions at 01:00 (GMT+08:00) on Wednesday, possibly providing more information on the UK economy and the path of interest rate hikes.

 

 

Strong U.S. non-farm payrolls data for June, released last Friday, set the stage for further sharp rate hikes in the coming weeks, while we are closely watching U.S. inflation (headline inflation) amid a pullback in commodity prices. rate) is showing signs of peaking.

 

 

 

GBP/USD technical analysis

 

 

From the perspective of the trend, the downward trend of GBP/USD is still obvious. However, it should be noted that the relative strength index (RSI) has shown a bottom divergence pattern, that is, the price keeps making new lows, while the low point of the RSI continues to rise, which shows that the downward momentum of GBP/USD has weakened, and there may be a rebound in the market outlook. But the turning point needs to be further confirmed.

 

 

 

key resistance:

• Downtrend line

• 50-day moving average

• 1.2080 (76.4% Fibonacci retracement level)

 

Key Support:

• 1.1876