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GBP/USD slows back below 1.29; neutral in the short term. GBP/USD passed through the 1.29 level on Monday but early on Tuesday, the bears blocked the way, sending the pair lower. In momentum indicators, the red Tenkan-Sen line seems to be flattening, while the RSI is struggling to surpass its 50 neutral
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The latest British employment data are due for release on Tuesday, at 09:30 GMT. Forecasts point to some further acceleration in wage growth during December, which is encouraging and could support the pound on the news. That said, with less than six weeks left until the UK exits the EU,
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After the disappointing GDP numbers for the fourth quarter, the pound is unlikely to find much support from the next set of data to be published in the UK this week. January inflation and retail sales readings are due on Wednesday and Friday, respectively, at 09:30 GMT. Both reports are
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GBP/USD finds support around 40-day SMA after a bearish rally. GBP/USD is currently challenging the 40-simple moving average (SMA) in the daily timeframe after the aggressive selling interest from the three-and-a-half month high of 1.3217 on January 25. The price is also hovering around the 23.6% Fibonacci retracement level of the downward movement from 1.4375
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Japan and the United Kingdom will be next to publish economic growth numbers for the final quarter of 2018, while the Eurozone will release its second GDP estimate for the period. Inflation data out of the US and the UK will also be watched. The Reserve Bank of New Zealand
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The Bank of England joined its dovish counterparts on Thursday after leaving interest rates steady as expected amid mounting fears that Brexit coinciding with a global economic slowdown could further sink British markets. Of more importance, policymakers surprisingly decided to cut growth forecasts to 1.2% for 2019 which is the lowest since th
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The BoE is widely expected to keep policy unchanged via a unanimous 9-0 vote on Thursday, at 1200 GMT. The focus will be on the updated economic forecasts, the likelihood for rate hikes – or cuts – this year, and Governor’s Carney’s remarks. The heightened uncertainty around Brexit coupled with
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GBP/USD slips to meet the 200-day average; could soon resume upside. GBP/USD closed in the red after six consecutive weekly increases which led the pair above the 200-day moving average (MA) for the first time since May and towards three-month highs. The pair started lower this week as well, with the
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The Bank of England and the Reserve Bank of Australia will be next in the central bank world to set monetary policy amid rising risks and uncertainty about the outlook. It will be relatively quiet on the data front as Chinese markets will be shut for the whole week for
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GBP/USD retreats after finding obstacle at a 3½-month top. GBP/USD had been in a flying mode on Friday, reaching a fresh three-and-a-half month high around 1.3217, before slipping lower again on Monday towards the immediate support of the 38.2% Fibonacci retracement level of the down leg from 1.4375 to 1.2390, near
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