When are the UK data releases and how could they affect GBP/USD?
The United Kingdom (UK) docket has the Gross Domestic Product (GDP) and Industrial Production data for November to be released by the Office for National Statistics (ONS) on Thursday, later this session at 07:00 GMT.
UK Gross Domestic Product is expected to increase by 0.1% month-over-month (MoM) in November, swinging from the 0.1% decline in October. UK Industrial Production may rise 0.1% MoM in November, following 1.1% increase in October. Meanwhile, the annual production could fall 0.4% in the same month, following a 0.8% decrease prior. Read more…
GBP/USD Price Forecast: Eyes nine-day EMA barrier near 1.3450
GBP/USD remains steady for the second successive session, trading around 1.3430 during the Asian hours on Thursday. The momentum indicator 14-day Relative Strength Index (RSI) is at 51 (neutral) after retreating from overbought readings, indicating balanced momentum.
The 50-day Exponential Moving Average (EMA) edges higher, supporting the broader bias as the GBP/USD pair holds above it. The nine-day EMA slips and caps near-term recoveries, signaling a modest loss of momentum. A drop through the short-term average would tilt the bias lower toward the static floor, while holding above it would keep dips contained and favor renewed tests of overhead resistance. Read more…
GBP/USD rallies as Fed independence threats hammer Dollar
The British Pound extended its gains on Wednesday as the Greenback is punished by investors due to threats to the Federal Reserve’s independence and a verbal intervention by Japanese officials, boosted the Yen. The GBP/USD trades at 1.3461 up by 0.30%.
The US Dollar reversed course on Wednesday amid Fed’s independence threats by the Trump administration. On Sunday, the Fed Chair Jerome Powell revealed that the accusations are “pretexts” by the White House who’s not happy that the central bank is setting interest rates “based on our best assessment of what will serve the public, rather than following the preferences of the President.” Read more…
Read the full article here