GBP/USD Weekly Forecast

Upcoming Events

This week the UK will release data about the employment change on Tuesday, the inflation and core inflation rate on Wednesday, and the forecast for both cases is 2.9%. In the United States, the eyes will also be on the inflation rates. Both inflation rates and core inflation rates data will be released on Tuesday, and its forecast is 5.2% for the Inflation rate and 4.3% for the core inflation rate in August.

GBP/USD Technical Analysis

From the technical perspective, the MACD has a bullish trend, and so it has the RSI, which is bouncing from the 30% level signaling a possible bullish trend in the next few days. During the last few days, we have seen the pair bounce from the 1,3700 level, so it looks like traders will try to buy near to this level, and take advantage of the weakness of the USD. However, this could lead to the price getting in a bullish trend that could get near to the psychological level of 1.40.

GBP/USD Weekly Forecast

We expect a modest bullish trend for this week fuelled by the USD weakness. The price level should be close to 1.3900, and beyond that, it could challenge the 1.4000 level. In case the price falls, the support level is at 1.3765, which is the seven-month low.

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