Forex GBP USD Forecast

Forex GBP USD Forecast - Daily published professional analytical forecasts for the main currency pair Market Forex: the GBP USD!

Short-term trading idea Forex GBP/USD – bull speculation: rebound from the TR2 trend line

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Trading opportunities on the currency pair: Since the 20th of September, the British pound has shed around 600 pips against the US dollar. The drop started with a pin bar model. From looking at the cycles, I’m expecting the rate to drop to the TR2 trend line or the range from 1.3000 to 1.3016, followed by a recovery to 1.3350 – 1.3490. We should keep the 21st of October and 29th of November in mind for possible reversal dates. From the trend line, I’ll start trying to trade with the trend with targets of 1.3350 and 1.1390. After the 28th of November, I’m expecting a downwards reversal and a breakout of the TR2 trend line.

Forecast and technical analysis EURUSD, GBPUSD, USDCHF on September 29, 2017.

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The US economy grew at an annual rate of 3.1% in the second quarter of 2017, according to figures published yesterday at 15:30 (GMT+3). Although this is historical data and was already factored into the price of the US dollar, it does increase the likelihood of the US seeing 2.0% real GDP growth in 2017. We can take from this that the US dollar could further strengthen its position against the majors by the end of the year.

Forecast and technical analysis EURUSD, GBPUSD, USDCHF on September 28, 2017.

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The Bank of Canada has indicated that it needs a more flexible, data-dependent monetary policy in the times to come, according to remarks yesterday from the bank’s head; Steven Poloz. Poloz stressed that they wouldn’t be thinking about interest rates mechanically, but rather that their outlook will depend on a number of statistical economic factors such as inflation, wage growth, business investment, consumer spending and debt, and so on. The Bank of Canada has hiked interest rates twice this year; once on the 12th of July when rates went up from 0.50% to 0.75%, and again on the 6th of September when they went up to 1.00%.

Forecast and technical analysis EURUSD, GBP/USD, USD/CHF on September 25, 2017.

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Steady open on currency markets after the German election

The Bundestag elections in Germany are over, with Angela Markel’s ruling party having won the most votes. Trading on currency markets this morning opened relatively peacefully. Parliamentary elections were also held in New Zealand over the weekend. The ruling National Party received the most votes, although it wasn’t enough to win them a majority of seats in parliament and form a government. The NZDUSD pair has opened down this Monday, with a gap of around 1%.

Forecast and technical analysis EURUSD, GBP/USD, USD/JPY on September 20, 2017.

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There weren’t any significant movements on the currency market on Tuesday, the 19th of September. The US dollar index closed slightly down, moving from 91.77 to 91.56, despite some positive data on the housing market. Building permits increased by 5.7% month on month in August. The euro index closed in positive territory, edging up from 95.09 to 95.35. The euro also continued its growth against the British pound, Japanese yen, and Swiss franc.

Forecast and technical analysis EURUSD, GBP/USD, USD/JPY on September 19, 2017.

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Markets take a wait-and-see attitude with the Fed meeting looming

The trading session on Monday, the 18th of September, went by smoothly. The value of the US dollar index hardly changed, moving in a range of 91.78 to 92.22. The euro index (ECX) closed slightly up, jumping from 94.71 to 95.10. This growth on the ECX was brought about by growth on the euro against the British pound, Japanese yen, and Swiss franc. The market is clearly in wait-and-see mode as the Fed meeting approaches.

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