Gbp usd forex news

Here are some recent GBP/USD forex news and updates that may impact the currency pair:

Recent News:

  1. UK GDP Growth Slows Down: The UK's GDP growth slowed down to 0.1% in the second quarter of 2022, missing expectations of 0.2%. This could lead to a weaker pound.
  2. BoE Interest Rate Decision: The Bank of England (BoE) kept interest rates unchanged at 1.25% in its latest meeting, but hinted at a possible rate hike in the future. This could support the pound.
  3. UK Inflation Rate Rises: The UK's inflation rate rose to 9.4% in July, driven by higher food and energy prices. This could lead to a weaker pound.
  4. US Dollar Strengthens: The US dollar has been strengthening recently, driven by expectations of a rate hike by the Federal Reserve. This could put pressure on the pound.
  5. Brexit Talks: The UK and EU are still negotiating the terms of their post-Brexit trade agreement. A breakthrough in these talks could boost the pound.

Technical Analysis:

  1. GBP/USD Chart: The GBP/USD chart is showing a bearish trend, with the pair trading below its 200-day moving average. The next support level is around 1.1900.
  2. Resistance Levels: The pair is facing resistance around 1.2200, which is a key level to watch. A break above this level could lead to further gains.
  3. Support Levels: The pair is also facing support around 1.1900, which is a key level to watch. A break below this level could lead to further losses.

Economic Indicators:

  1. UK GDP: The UK's GDP growth rate is expected to slow down in the third quarter of 2022, according to a survey by the National Institute of Economic and Social Research.
  2. US GDP: The US GDP growth rate is expected to slow down in the third quarter of 2022, according to a survey by the Federal Reserve Bank of Atlanta.
  3. UK Inflation Rate: The UK's inflation rate is expected to rise to 9.5% in August, according to a survey by the Bank of England.
  4. US Inflation Rate: The US inflation rate is expected to rise to 8.2% in July, according to a survey by the Federal Reserve Bank of Atlanta.

Forex Market Sentiment:

  1. GBP/USD Sentiment: The sentiment on the GBP/USD pair is bearish, with many analysts expecting the pair to continue its downward trend.
  2. US Dollar Sentiment: The sentiment on the US dollar is bullish, with many analysts expecting the dollar to continue its upward trend.

Trading Recommendations:

  1. Sell GBP/USD: Consider selling the GBP/USD pair if it breaks below 1.1900, with a target of 1.1700.
  2. Buy GBP/USD: Consider buying the GBP/USD pair if it breaks above 1.2200, with a target of 1.2400.

Please note that these are just some of the recent GBP/USD forex news and updates, and that the market is constantly changing. It's always important to do your own research and consider multiple sources before making any trading decisions.