GBP-USD Forecast Hawkish Fed vs. UK Retail Data
GBP/USD, known in the forex market as “Cable,” is one of the world’s most actively traded currency pairs, reflecting the economic dynamics between the United Kingdom and the United States. Today’s fundamental outlook emphasizes multiple high-impact events from the U.S. and the UK, notably Federal Reserve members Raphael Bostic, Stephen Miran, Beth Hammack, and Lorie Logan discussing monetary policies, employment, inflation, and retail sales data from the US, as well as the Bank of England’s MPC member Catherine Mann discussing economic outlook. Hawkish stances from these members are likely to support USD strength, whereas better-than-expected UK retail sales could offer support to the GBP.
Chart Notes:
• Chart time-zone is UTC (+02:00)
• Candles’ time-frame is 4h
Technically, the GBPUSD 4-hour chart depicts a bullish price action within an ascending trend channel, currently progressing from the lower half towards the mid-channel line, facing resistance near the Ichimoku cloud. The Bollinger Bands middle line and key resistance at approximately 1.37500 remain significant obstacles above the cloud if the price breaks the immediate resistance at 1.37000. Below, the pair has immediate support at 1.36500, followed by further supports at 1.36000 and 1.35500. Indicators %R14 at -7.18 signals nearing overbought territory, and the MACD (12,26 close 9) values at 0.00156, 0.00049, and -0.00107 suggest mild bullish momentum. Traders should closely monitor price action around these key technical levels for breakout or reversal signals.
•DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.
