GBPUSD Weekly Forecast: Pound Sterling set to reclaim 200-DMA in the Thanksgiving week
GBPUSD buyers remained unstoppable for the second straight week, despite a lack of bullish impetus from the highly-anticipated United Kingdom Autumn Budget. The Pound Sterling also stood resilient to the recent rebound in the US Dollar, as attention now turns toward the US Federal Reserve’s (Fed) November policy meeting minutes in the Thanksgiving week. Read more...
GBPUSD clings to gains near 1.1900 amid softer USD, lacks bullish conviction
The GBPUSD pair sticks to its modest intraday gains through the early European session and is currently placed around the 1.1900 round-figure mark. As investors look past a rather unimpressive UK government £55 billion fiscal plan, as outlined in the Autumn budget, a combination of factors assists the GBPUSD pair to regain positive traction on the last day of the week. Expectations that the Bank of England will continue raising rates to combat stubbornly high inflation act as a tailwind for the British Pound. Apart from this, the better-than-expected monthly UK Retail Sales data offers some support to spot prices amid subdued US Dollar price action. Read more...
GBP/USD
Overview
Today last price1.1884
Today Daily Change0.0000
Today Daily Change %0.00
Today daily open1.1884
Trends
Daily SMA201.1584
Daily SMA501.137
Daily SMA1001.1645
Daily SMA2001.2224
Levels
Previous Daily High1.1951
Previous Daily Low1.1858
Previous Weekly High1.2029
Previous Weekly Low1.171
Previous Monthly High1.1646
Previous Monthly Low1.0924
Daily Fibonacci 38.2%1.1915
Daily Fibonacci 61.8%1.1893
Daily Pivot Point S11.1844
Daily Pivot Point S21.1805
Daily Pivot Point S31.1751
Daily Pivot Point R11.1937
Daily Pivot Point R21.199
Daily Pivot Point R31.203
GBPUSD grinds higher toward 1.1880 as traders eye US Existing Home Sales
The British Pound (GBP) edges north of 1.1880 amidst a risk-on impulse, as shown by equity futures in the United States climbing with no fundamental reason after a slew of Federal Reserve (Fed) officials signaled rates would continue to rise. At the time of writing, the GBPUSD is trading at 1.1882, above its opening price by 0.35%, capitalizing on broad US Dollar (USD) weakness. Read more...
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