Economic Reports Fuel GBP/USD’s Bullish Movement
GBP/USD, popularly known as “Cable,” is a major currency pair representing the British Pound against the US Dollar. This pair is highly traded, known for its volatility and liquidity. Fundamentally, today’s upcoming news includes data from RICS on housing prices, UK GDP, Manufacturing Production, Industrial Production, and trade balance, all critical indicators influencing the UK’s economic health. Positive results in these economic indicators typically support the GBP by signaling economic strength, potentially increasing demand for the Pound. Conversely, US data releases, notably the Producer Price Index and unemployment claims, will influence the USD’s strength, reflecting inflation pressures and labor market conditions.
Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
Analyzing the GBPUSD H4 chart, the long-term bullish trend established since January 2025 continues firmly. Recent price action illustrates bullish momentum, with the latest candles positioned within the Ichimoku Cloud and breaking through its upper boundary. Price is advancing from the 0.236 Fibonacci retracement level (1.34772) toward the 0 Fibonacci level (1.35787), which has consistently acted as a significant resistance level. Volume indicators remain strong, suggesting sustained market interest. Additionally, the MACD indicator and histogram confirm the bullish sentiment, indicating potential continuation if resistance at 1.35787 is convincingly surpassed.
•DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.
