GBP

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.

The Federal Reserve June FOMC meeting and US consumer price inflation for May look set to dictate directional risks for GBP/USD this week, overriding anything on the UK calendar including Britain’s unemployment report. Risks look skewed to the downside.

It was another strong week for the British Pound as Core CPI came out well-above the expectation, leading to a 1.2750 test in GBP/USD and a 200.00 test in GBP/JPY.

GBPUSD Analysis: Growth indicators soar, inflation stays on course, and eyes are on the upcoming BOE decisions.

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!

The British pound has been used as England’s central currency for over a thousand years. Read about its evolution from a coin literally weighing one pound to the banknotes common today. We also rank the next three oldest major currencies: the yen, ruble and dollar.

Whilst GBP as under pressure from talk of tax hikes, GBP/USD remains above a key support level ahead of today’s ISM and JOLTS job opening reports.

This week’s UK CPI reading will still be one of the biggest factors driving the Bank of England’s early November decision on interest rates...