gbpusd forecast

Weekly Forecast for GBP/USD 27-Aug to 31: Technical and Fundamental Analysis

GBPUSD Weekly Technical and Fundamental Analysis

GBP/USD was pressured on fears of a no-deal Brexit and was unable to take full advantage of the gradual retreat of the US Dollar. What’s next? Here are the key events and an updated technical analysis for GBP/USD. Read out our complete analysis for GBPUSD and If you still confuse, signup for daily forex trading alerts.

The EU and the UK have agreed to hold non-stop Brexit talks. The news initially helped the pound recover. However, there has been no breakthrough in the talks and the UK government published papers to prepare the public for a no-deal Brexit. In the US, Trump sent the dollar lower with his legal trouble and also by complaining about the Fed’s rate hikes. Nevertheless, the FOMC Meeting Minutes conveyed an upbeat message.

GBP/USD Technical analysis

Pound/dollar at first progressed however missed the mark regarding testing 1.3000.

Technical lines from top to bottom:

1.3215 was the high point for the match in mid-July and a lower high on the outline.

1.3100 was a swing low in mid-June and 1.3050 was a past 2018 low.

Beneath 1.3000 we find 1.2935, a high point in late August. 1.2865 isolated ranges in late August. Additionally down, 1.2790 filled in as help late August and furthermore in advance.

1.2750 held the match down when the combine was on the back foot. The current 2018 trough at 1.2660 is the following level.

1.2590 was a swing low in September 2017. Indeed, even lower, 1.25 is a round number and furthermore filled in as help in mid-2017.

GBPUSD Weekly Technical Analysis 27-Aug to 31-Aug

GBP/USD Fundamental Analysis

BRC Shop Price Index: Tuesday, 23:01. The British Retail Consortium’s expansion measure demonstrated a drop of 0.3% y/y in costs back in July, a slower slide than heretofore. The adjustment in costs might be restricted at this point.

M4 Money Supply: Thursday, 8:30. The measure of cash available for use dropped by 0.3% in June, beneath desires. It will premium check whether the ongoing BOE rate climb will have another impending effect on the speed of cash.

Home loan Approvals: Thursday, 8:30. The official proportion of home loans lingers behind the High Street Lending measure. By the by, it gives a wide outline of the lodging market. Home loans rose to a level of 66K in June. A comparative number is likely at this point.

Net Lending to Individuals: Thursday, 8:30. Loaning to people rose to a net estimation of 5.4 billion in June, yet inside surely understood reaches. No huge changes are likely at this point.

GFK Consumer Confidence: Thursday, 23:01. This expansive review of 2,000 customers frustrated with a drop to – 10 focuses in July, reflecting developing negativity, some of it Brexit related. No noteworthy change is likely at this point.

Across the country HPI: Friday, 6:00. This is one of the most punctual house value figures in the UK. Back in July, it astonished with a second significant ascent of 0.6%, superior to had been normal. An ascent of 0.1% is on the cards now. All Times GMT.