GBP/USD Forecast: Live analysis

Price Analysis Showing Bullish Signals

The GBP/USD forex pair has recently experienced a significant bearish wave, as evidenced by the latest price analysis. This downtrend has brought the price into a key support zone, marked around 1.24874 on the chart, where a potential stabilization or reversal could occur. Technical indicators such as the Relative Strength Index (RSI) suggest overselling, with values dipping as low as 24.93, which typically indicates a market poised for a bullish correction. Furthermore, the considerable distance from the Ichimoku cloud highlights potential for an upward retracement.

   Chart Notes: 

  • Chart time-zone is UTC (+03:00)
  • Candles’ time-frame is 4h.

The upcoming economic releases are crucial and could significantly impact the GBP/USD dynamics. Key events include the Bank of England’s Monetary Policy Report, Monetary Policy Summary, and MPC Official Bank Rate Votes. Notably, the Official Bank Rate is forecasted to remain unchanged at 5.25%. These reports are instrumental in shaping market expectations regarding the UK’s economic outlook and monetary policy, potentially fueling a bullish sentiment if the data suggests a stable or improving economic scenario.
GBPUSD now shows that investors should closely monitor these developments, as they represent pivotal moments that could dictate the GBP/USD’s trend in the near term. With potential shifts in economic policy or unexpected insights from the Bank of England, the market’s reaction could offer trading opportunities.
As always, remember trading involves risks, and this technical and news analysis is meant for informational purposes only, not as direct investment advice. Traders should conduct their research and approach these market conditions with caution, particularly around the times of major economic announcements.
• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.