Event to watch today:
11:20 EET. GBP - BOE Governor Andrew Bailey Speaks
GBPUSD:
GBP/USD is holding near 1.34000 after falling to its lowest levels since mid-May. Pressure on the pound is linked not only to the stronger US dollar amid high US inflation, but also to domestic political uncertainty in the UK. Investors are cautiously assessing risks for the government and the possible impact of political tensions on the economic agenda.
The British currency is also receiving limited support from the Bank of England. The regulator maintains a cautious approach: inflation remains elevated, but the economy is showing signs of cooling, including weaker demand and slower hiring. This reduces the pound’s appeal, as the market does not see a clear UK advantage over the US in monetary policy.
For the pair, the key factor remains the US dollar. The high US Personal Consumption Expenditures index strengthens expectations that the Federal Reserve will keep rates at current levels for longer. If demand for the dollar remains stable and UK political risks stay in focus, GBP/USD may continue to decline toward the nearest target levels.
Trading recommendation: SELL 1.34000, SL 1.34300, TP 1.33100
11:20 EET. GBP - BOE Governor Andrew Bailey Speaks
GBPUSD:
GBP/USD is holding near 1.34000 after falling to its lowest levels since mid-May. Pressure on the pound is linked not only to the stronger US dollar amid high US inflation, but also to domestic political uncertainty in the UK. Investors are cautiously assessing risks for the government and the possible impact of political tensions on the economic agenda.
The British currency is also receiving limited support from the Bank of England. The regulator maintains a cautious approach: inflation remains elevated, but the economy is showing signs of cooling, including weaker demand and slower hiring. This reduces the pound’s appeal, as the market does not see a clear UK advantage over the US in monetary policy.
For the pair, the key factor remains the US dollar. The high US Personal Consumption Expenditures index strengthens expectations that the Federal Reserve will keep rates at current levels for longer. If demand for the dollar remains stable and UK political risks stay in focus, GBP/USD may continue to decline toward the nearest target levels.
Trading recommendation: SELL 1.34000, SL 1.34300, TP 1.33100
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More analytical information and promotions on FreshForex website cutt.ly/LrP6j9qD
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.