Review Brokers
No Result
View All Result
Tuesday, September 26, 2023
  • Login
  • Home
    • Forex Advertising
    • Economic Calendar
    • Contact Us
  • Forex Brokers
    • Best Broker 2023
  • Education
    • Forex Trading Strategies
    • Forex Trading Indicators
    • Forex/CFDs/Cryptos News
    • Promotional Content
  • Forex Promotions
    • Best Promotions
    • Affiliate Program
    • Forex No Deposit Bonus
    • Forex Demo Contest
    • Forex Rebate (Cashback)
    • Forex Live Contest
    • Forex Deposit Bonus
    • Other Promotions
  • Expert Advisors
    • Expert Advisors Price
  • Rebate Service
    • Terms and Conditions of Rebate Services
  • Home
    • Forex Advertising
    • Economic Calendar
    • Contact Us
  • Forex Brokers
    • Best Broker 2023
  • Education
    • Forex Trading Strategies
    • Forex Trading Indicators
    • Forex/CFDs/Cryptos News
    • Promotional Content
  • Forex Promotions
    • Best Promotions
    • Affiliate Program
    • Forex No Deposit Bonus
    • Forex Demo Contest
    • Forex Rebate (Cashback)
    • Forex Live Contest
    • Forex Deposit Bonus
    • Other Promotions
  • Expert Advisors
    • Expert Advisors Price
  • Rebate Service
    • Terms and Conditions of Rebate Services
No Result
View All Result
Review Brokers
No Result
View All Result

GBPUSD outlook: Bears take a breather as market looks for signals about the action of new UK PM

Admin by Admin
September 7, 2022
in Forex/CFDs/Cryptos News
0
gbpusd
0
SHARES
1
VIEWS

(Slobodan Drvenica – Windsor Brokers)

Cable edged higher in Asian / European trading on Tuesday, boosted by cautious optimism that new UK Prime Minister Liz Truss will manage handle deepening crisis, though market will look for a much more evidence about the action the new government will take.

The key problem that Truss face will be to cap energy costs, as soaring prices strongly hit UK households, by sharply rising cost of living.

The new government is expected to unveil the plan for providing a billions of pounds to help struggling Britain’s households and  will also need to answer the questions about fiscal and monetary policy.

This comes a week ahead of Bank of England policy meeting (Sep 15), in which the central bank is expected to hike interest rates for the seventh consecutive time, with around 70% expecting 75 basis points hike to 2.5%, in its fight to bring the double-digit inflation under control.

Technical picture shows fatigue of larger bears as daily studies are oversold, though firm bearish structure and persisting negative fundamentals suggest that corrective action likely will be just positioning for fresh push lower.

Upticks should be ideally capped under daily Tenkan-sen (1.1672), also 50% retracement of 1.1900/1.1443 bear-leg, to keep bears intact for final attack at 2020 low at 1.1410, loss of which would spark stronger acceleration lower.

Res: 1.1618; 1.1672; 1.1703; 1.1761.
Sup: 1.1568; 1.1512; 1.1443; 1.1410.

gbpusd

GBP/USD Forecast: Pound needs to clear 1.1600 to attract buyers

(Eren Sengezer – FXStreet)

– GBP/USD clings to daily recovery gains above 1.1550.

– Near-term technical outlook points to a bullish tilt following latest rebound.

– The pair could extend its rebound if it manages to clear 1.1600.

GBP/USD has gathered recovery momentum and advanced toward 1.1600 on Tuesday. The near-term technical outlook points to a bullish shift as investors await the US ISM Services PMI data for August.

Following Monday’s choppy action amid the Labor Day holiday in the US, the risk-positive market environment made it difficult for the dollar to gather strength during the Asian trading hours on Tuesday and allowed GBP/USD to push higher.

The UK’s FTSE 100 Index is trading in positive territory early Tuesday and helps the pair stay bullish. New British Prime Minister Liz Truss promised on Monday to deal with the energy crisis and said that she will deliver a bold plan to cut taxes and grow the economy. Truss is expected to unveil her plan on Thursday. According to several news outlets, Truss is considering a lengthy freeze on energy bills for households and businesses.

Although it’s difficult to say how such a measure would impact the Bank of England’s policy outlook moving forward, the positive effect on the risk perception seems to be helping the British pound for now.

In the second half of the day, the ISM Services PMI data from the US will be looked upon for fresh impetus. Markets expect the Prices Paid component of the survey to increase to 76.5 in August from 72.3 in July. An unexpected decline in the inflation component could weigh on the greenback and open the door for an extended rebound in GBP/USD. Market participants will also keep a close eye on the performance of US stocks. If Wall Street’s main indexes struggle to stage a convincing recovery, safe-haven flows could return to markets and limit the pair’s upside.

GBP/USD Technical Analysis

gbpusd

The last three four-hour candles closed above the descending regression channel coming from early August and the 20-period SMA. Additionally, the Relative Strength Index rose to its highest level near 60 since the beginning of the latest downtrend, reflecting the bullish tilt. 

1.1600 (psychological level, static level) aligns as immediate resistance. In case the pair manages to hold above that level, the 1.1640/50 area (50-period SMA, static level) could be seen as the next hurdle ahead of 1.1700 (static level, psychological level).

On the downside, 1.1550 (20-period SMA) forms first support before 1.1500 (psychological level, upper limit of the descending channel) and 1.1440 (September 5 low). 

Read USD regains strength

Post Views: 286
Continue Reading

Related posts:

GBPUSDGBP/USD Forecast: 1.2200 may prove to be a tough resistance to crack GBPUSDGBPUSD Forecast: Bears to take action with a drop below 1.2050 GBPUSDGBPUSD Forecast: Pound remains fragile despite latest recovery attempt GBPUSDForex Trading Analysis: GPB/USD, Gold, EUR/USD FXStreetUS Inflation Preview: Finally signs of peak inflation? Three scenarios for Core CPI and the dollar OrbexSentiment turns sour into Netflix earnings [Video] MarketNewsEuro rebounds ahead of this week’s ECB meeting [Video] FXStreetUK inflation heading for 11%+ readings later this year as food and energy costs rise
Tags: Forex/CFDs/Cryptos NewsGBP/USD Technical Analysisthe action of new UK PM
30 USD No Deposit Bonus 30 USD No Deposit Bonus 30 USD No Deposit Bonus
Previous Post

Gold: History repeating itself? [Video]

Next Post

Tickmill | Masters of Crypto Trading Challenge

Admin

Admin

Related Posts

ForexNews
Forex/CFDs/Cryptos News

Economic Headwinds in Europe: Exploring the Lower Trading Figures

July 25, 2023
EUR-USD
Forex/CFDs/Cryptos News

EUR/USD Forecast: Turbulent Times Ahead for the Euro

July 17, 2023
FXcurrencies
Forex/CFDs/Cryptos News

Mastering Murrey Math Lines for Trading USD/JPY and USD/CAD

April 19, 2023
oil
Forex/CFDs/Cryptos News

Navigating the Turbulent Waters of Commodity Markets: Higher Prices and Weaker Margins

April 19, 2023
oil
Forex/CFDs/Cryptos News

Energy Prices Spark Inflation Surge in the US: Expert Analysis

April 17, 2023
Gold
Forex/CFDs/Cryptos News

Gold Forecast: Will it Reach $2040 Again and What are the Risks Involved?

September 11, 2023
Load More
Next Post
Tickmill

Tickmill | Masters of Crypto Trading Challenge

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result
ADVERTISEMENT
  • Trending
  • Comments
  • Latest
PrimeXBT

PrimeXBT | Step2earn Contest (06.06.22)

May 31, 2022
FBS

FBS | $100 Quick Start Bonus

February 21, 2023
PrimeXBT

PrimeXBT | TradinatoR Contest (27.06.22)

June 6, 2022
xtrade

XTrade | Xmas Season Bonus (26.12.21)

May 24, 2022
CMC Markets

What Is Bitcoin?

52
forexknowledge

What is Forex?

32
Tiomarkets

MT4 vs MT5: What trading platform to choose?

31
CMC Markets

What Is Ethereum?

29
JustMarkets-Grab a Risk-Free $30 Welcome Bonus in Forex Trading

JustMarkets – Grab a Risk-Free $30 Welcome Bonus in Forex Trading

September 25, 2023
Boost Your Profits with OctaFX 50% Bonus Offer

Boost Your Profits with OctaFX 50% Bonus Offer

September 25, 2023
XM Group - How to Claim $30 Forex Welcome Bonus

XM Group – How to Claim $30 Forex Welcome Bonus

September 24, 2023
RoboForex How to Claim $30 as a Forex Welcome Bonus

RoboForex Free Welcome Bonus: How to Claim $30 as a Forex Welcome Bonus

September 22, 2023

Advertisement

exness

fbs

XM



octafx

icmarkets

XM

Recent Posts

  • JustMarkets – Grab a Risk-Free $30 Welcome Bonus in Forex Trading
  • Boost Your Profits with OctaFX 50% Bonus Offer
  • XM Group – How to Claim $30 Forex Welcome Bonus
  • RoboForex Free Welcome Bonus: How to Claim $30 as a Forex Welcome Bonus
  • Winning Gold Trading Strategies

Connect to ReviewBrokers

facebook twitter telegram
liveinternet liveinternet
Review Brokers

ReviewBrokers Information

Address: Ho Chi Minh City, Vietnam, 70000

Contact us:
– Skype: fxvnpro
– Email:

admin@reviewbrokers.com

reviewbrokers.net@gmail.com

Payment methods:
– Webmoney
– Perfect Money
– Paypal
– Skrill
– Neteller
– Bank Wire
– Bitcoin

Categories

  • Affiliate Program (63)
  • Best Promotions (42)
  • Broker Listing (7)
  • Education (95)
  • Expert Advisors (2)
  • Forex Demo Contest (38)
  • Forex Deposit Bonus (239)
  • Forex Live Contest (53)
  • Forex No Deposit Bonus (28)
  • Forex Rebate (Cashback) (64)
  • Forex Trading Indicators (26)
  • Forex Trading Strategies (15)
  • Forex/CFDs/Cryptos News (963)
  • Other Promotions (51)
  • Promotional Content (14)

Disclaimer

Any promotions, reviews, and other information in the website are just for the information purpose only.

There is no invitation or encouragement to invest in the Financial Market such as CFDs, Forex, Binary Options, Indices, Cryptocurrencies and so on. We disclaim liability for any loss resulting from the use of information contained on this website.

The published comments are private opinions or feedback of the users. ReviewBrokers is not responsible for any information on the website.

Recent Posts

  • JustMarkets – Grab a Risk-Free $30 Welcome Bonus in Forex Trading
  • Boost Your Profits with OctaFX 50% Bonus Offer
  • XM Group – How to Claim $30 Forex Welcome Bonus
  • RoboForex Free Welcome Bonus: How to Claim $30 as a Forex Welcome Bonus
  • Winning Gold Trading Strategies
  • Top Forex Brokers with No Deposit Bonuses
  • FBS Global Roadshow: Nurturing Global Trading Communities Worldwide
  • What is a No Deposit Forex Bonus and How to Get It
  • Maximize Profits with Free Forex Trading Bots
  • How to Start Making Money with Forex Trading for Beginners
  • Trading Forex with No Deposit Bonus
  • Orbit Global FX | August Month Offer For Traders

Risk warning

Please be aware of your investment into trading markets which is high risk and not suitable for everyone.

© 2013 - 2023 Review Brokers - Forex Brokers Review - Rebates Service - Expert Advisors Signals - Forex Promotions & News.

No Result
View All Result
  • Home
    • Binary Options Brokers
    • Forex Advertising
    • Best Brokers 2022
    • Economic Calendar
    • Contact Us
  • Expert Advisors
    • Expert Advisors Price
  • Forex Brokers
  • Education
    • Forex/CFDs/Cryptos News
    • Promotional Content
  • Forex Promotions
    • Best Promotions
    • Forex No Deposit Bonus
    • Forex Demo Contest
    • Forex Rebate (Cashback)
    • Affiliate Program
    • Forex Deposit Bonus
    • Forex Live Contest
    • Other Promotions

© 2013 - 2023 Review Brokers - Forex Brokers Review - Rebates Service - Expert Advisors Signals - Forex Promotions & News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Warning: array_sum() expects parameter 1 to be array, null given in /home/betbonus/reviewbrokers.net/wp-content/plugins/jnews-social-share/class.jnews-social-background-process.php on line 111