GBP

GBP/USD has shown its strongest monthly gain in March since November of 2023, and the question now is whether bulls can hold the move after testing the key resistance level at 1.3000.

GBP/USD is nearing a fresh two-month-high and the pair can remain as one of the more attractive venues for a continuation of U.S. Dollar weakness.

The strong bullish trend in GBP/USD has pushed the pair up more than 2% over the last six trading sessions, with the pound leading the way as it benefits from the short-term depreciation of the U.S. dollar.

GBP/USD has recorded six consecutive sessions of declines, approaching the key support at 1.21779, a level not seen since 2023.

It was a brutal week for the British Pound, with GBP showing its largest weekly loss against the Euro in more than a year.

GBPUSD, Gold Forecast: The British pound is struggling against a strong U.S. dollar, holding onto key 2024 support levels, while gold is forming a triangle pattern, leaving markets on edge for a decisive breakout. Non-Farm Payrolls (NFP) on Friday add further volatility risks.

It’s been tough sledding for Cable so far in Q4, but bulls have started to show defense of a major psychological level. Meanwhile, GBP/JPY is holding on to a bullish breakout setup as we go into next week.

On October 30th, Chancellor Rachel Reeves will unveil her first Budget of the new Labour government. Here we look at what this might include and how it could impact the markets, looking at the pound as well as specific sectors in the FTSE.

Having hit fresh 2024 highs after breaking downtrend resistance with force, the question for GBP/USD this week is whether the move can extend further, bringing a potential retest of the July 2023 highs onto the radar?

The GBP/AUD uptrend faces a string of big tests over the next 24 hours, potentially influencing the outlook for interest rates from the BoE and RBA.

Only a ‘hawkish hike’ from the Bank of England (BoE) is likely to be enough to turn around the fortunes of GBP/USD given rapidly weakening fundamentals.

GBP/USD has looked healthier on the charts, closing below a key support zone on Thursday. Downside risks for GBP/AUD are also growing.

Many analysts are attributing this week’s downdraft in GBP/USD to month- and quarter-end rebalancing ahead of the weekend, so there’s certainly potential for a bounce as we head into next week.

GBP/USD has broken out above strong previous resistance in the 1.2450 area to hit a fresh 10-month high!

According to the CME’s FedWatch tool, investors are now pricing in a 60/40 shot of a 50bps rate hike in two weeks’ time and that rates could peak above 5.5%.

A fiat currency is a monetary instrument backed by a national government like the British pound or Canadian dollar. Learn how fiat currencies operate and how they compare to other types of money.

One trader amassed a large position in options that would make $135 million if the central bank keeps tightening until September!