Hot forecast for GBP/USD on 12/04/2023
April 12, 2023 8:22 amVideo
Latest News
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
- GBP/USD. April 16th. British statistics didn’t capture traders’ attention April 16, 2024
- Technical Analysis – EURCHF ticks up after strong losses April 16, 2024
- Technical Analysis – JP 225 index tests crucial support zone April 16, 2024
- Market Comment – Stocks slide, dollar soars as rate cut bets take another hit April 16, 2024
- Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500 from Sebastian Seliga April 16, 2024
- GBP/USD: trading tips for beginners for European session on April 16 April 16, 2024
- EUR/USD: trading tips for beginners for European session on April 16 April 16, 2024
- What’s next for markets amid Israel-Iran tensions? – Special Report April 16, 2024
- Technical Analysis – GBPUSD pulls back into the negative zone April 16, 2024
- Geopolitical developments and stronger US data push volatility to new highs across the board – Volatility Watch April 16, 2024
- Technical Analysis – AUDUSD breaks the lower bound of a sideways range April 16, 2024
- Video market update for April 16, 2024 April 16, 2024
- Hot forecast for EUR/USD on April 16, 2024 April 16, 2024
- Technical Analysis – EURUSD dives further near 1.0600 April 16, 2024
- XM 2024 Ramadan Promotion Winners April 16, 2024
- EUR/USD and GBP/USD: Technical analysis on April 16 April 16, 2024
- Key events on April 16: fundamental analysis for beginners April 16, 2024
- Overview of the GBP/USD pair. April 16th. The pound may rebound, but the flat is over, and there are no reasons for growth April 16, 2024
The markets have paused in anticipation of the US inflation report, which can determine further developments. There is practically no doubt that the pace of consumer price growth will slow down. The question is only how much. The most likely scenario is a decrease from 6.0% to 5.3%. However, inflation could also slow down more significantly, with some suggesting that it may drop to 5.2%. In any case, further inflationary decline is another argument in favor of an immediate end to the Federal Reserve’s current policy, and gradual interest rate cuts. This, of course, will have a negative impact on the dollar, contributing to its further weakening. The extent to which inflation slows down will only determine the scale of the dollar’s decline. However, in any case, the market will stay put until the data is released, and some activity will begin prior to it. Moreover, most likely, the dollar will initially strengthen, but with the release of data, it will start to rapidly depreciate.
Inflation (United States):
GBP/USD has partially recovered its position from the recent pullback. This indicates that the bullish sentiment among market participants is still intact. In the future, this could lead to an update of the local high in the medium-term.
On the four-hour chart, the RSI technical indicator crossed the 50 line upwards. This technical signal may indicate the end of the pullback and an increase in the volume of long positions on the British pound.
On the four-hour chart, the Alligator’s MAs have multiple intersections, which also indicates the end of the correction. On the daily chart, the Alligator signals an uptrend.
Outlook
We can assume that once the pair climbs above the 1.2450 level, this means that the correction has ended, which in turn will lead to a subsequent increase in the volume of long positions and, as a result, to an update of the local high in the medium-term.
Traders can consider a different scenario if the technical signal turns out to be false and the quote falls below 1.2350.
The complex indicator analysis indicates that the pound will recover in the short-term and intraday periods.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: