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 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.

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

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.

Having hit fresh 2024 highs after breaking downtrend resistance with force, the question for GBP/USD this week is whether the move can extend further, bringing a potential retest of the July 2023 highs onto the radar?

The GBP/AUD uptrend faces a string of big tests over the next 24 hours, potentially influencing the outlook for interest rates from the BoE and RBA.

Only a ‘hawkish hike’ from the Bank of England (BoE) is likely to be enough to turn around the fortunes of GBP/USD given rapidly weakening fundamentals.

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.

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