GBP

It’s been tough sledding for Cable so far in Q4, but bulls have started to show defense of a major psychological level. Meanwhile, GBP/JPY is holding on to a bullish breakout setup as we go into next week.

On October 30th, Chancellor Rachel Reeves will unveil her first Budget of the new Labour government. Here we look at what this might include and how it could impact the markets, looking at the pound as well as specific sectors in the FTSE.

The British Pound started the week with strength, testing above the 1.3000 handle against the US Dollar for the first time since last July. But the pair was unable to overcome an overbought RSI reading on the daily and posed a stark reversal in the latter-portion of the week. Can it continue? Or will GBP bulls grasp on to support to continue the prior trend?

The Federal Reserve June FOMC meeting and US consumer price inflation for May look set to dictate directional risks for GBP/USD this week, overriding anything on the UK calendar including Britain’s unemployment report. Risks look skewed to the downside.

It was another strong week for the British Pound as Core CPI came out well-above the expectation, leading to a 1.2750 test in GBP/USD and a 200.00 test in GBP/JPY.

GBPUSD Analysis: Growth indicators soar, inflation stays on course, and eyes are on the upcoming BOE decisions.

The Bank of England hosts a rate decision on Thursday and GBP/USD has pushed back-above the 1.2500 handle. GBP/JPY slid after touching the 200.00 mark for the first time since 2008, and EUR/GBP is showing bearish breakdown potential with two different technical formations.

Last week I highlighted that GBP/USD tends to deliver the strongest returns in April. Today we take a closer look to identify the most bullish phase of the most bullish month.

GBP/USD has looked healthier on the charts, closing below a key support zone on Thursday. Downside risks for GBP/AUD are also growing.

Many analysts are attributing this week’s downdraft in GBP/USD to month- and quarter-end rebalancing ahead of the weekend, so there’s certainly potential for a bounce as we head into next week.

The British Pound has been bullish, setting a fresh yearly high last week against the US Dollar. This morning showed that inflation remains elevated in the U.K., leading into tomorrow’s rate decision at the BoE.

The British Pound broke out to trade above 1.2500 against the US Dollar for the first time since June of last year, a far cry from the 1.0343 low that was set in September.

GBP/USD has broken out above strong previous resistance in the 1.2450 area to hit a fresh 10-month high!

According to the CME’s FedWatch tool, investors are now pricing in a 60/40 shot of a 50bps rate hike in two weeks’ time and that rates could peak above 5.5%.

One trader amassed a large position in options that would make $135 million if the central bank keeps tightening until September!

Learn what gross domestic product (GDP) is, how it’s calculated and what it means for a nation’s economy. Then, learn how to use GDP when trading forex.

The British pound has been used as England’s central currency for over a thousand years. Read about its evolution from a coin literally weighing one pound to the banknotes common today. We also rank the next three oldest major currencies: the yen, ruble and dollar.