GBP/USD Price Forecast: Consolidates at around 1.3000 due to soft US Dollar
29.10.2024, 15:08

GBP/USD Price Forecast: Consolidates at around 1.3000 due to soft US Dollar

  • GBP/USD moves past 1.3000 as investors eye UK budget and potential Fed rate cuts following positive US jobs data.
  • Buyers maintain support at the 100-day SMA (1.2971), with a close above 1.3000 targeting resistance at 1.3100 and 50-day SMA at 1.3139.
  • A close below 1.2971 could open the door for sellers to test 1.2900, with further downside risk to the 200-day SMA at 1.2804.

The Pound Sterling climbed past 1.3000 for the first time in five days after a US jobs report increased the chances that the Federal Reserve (Fed) would cut rates at the last two meetings in 2024. The GBP/USD trades at 1.2998, posting gains of over 0.21%.

GBP/USD Price Forecast: Technical outlook

The GBP/USD has been range-bound within the 1.2900/1.3000 mark, unable to break the bottom/top of the area. Investors remain reluctant to position themselves as they eye the release of the UK budget, seen as traders as the next catalyst, ahead of the policy decisions of the Bank of England and the Federal Reserve next week.

In the near term, the pair is tilted to the downside, but buyers are leaning toward the 100-day Simple Moving Average (SMA) at 1.2971, keeping sellers at bay. If the former pushes the GBP/USD above 1.3000 and achieves a daily close above the latter, further upside is seen, and 1.3100 would be the next key resistance level. Once surpassed, the 50-day SMA at 1.3139 emerges as the next supply zone.

Conversely, if sellers drive the exchange rate below the 100-day SMA at 1.2971, it could exacerbate a test of 1.2900. Bears could drive prices to the 200-day SMA at 1.2804 on further weakness.

GBP/USD Price Chart – Daily

British Pound PRICE Today

The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Australian Dollar.

  USD EUR GBP JPY CAD AUD NZD CHF
USD   0.19% -0.13% 0.14% 0.09% 0.42% 0.31% 0.35%
EUR -0.19%   -0.32% -0.05% -0.06% 0.23% 0.13% 0.20%
GBP 0.13% 0.32%   0.28% 0.23% 0.55% 0.44% 0.52%
JPY -0.14% 0.05% -0.28%   -0.03% 0.29% 0.17% 0.26%
CAD -0.09% 0.06% -0.23% 0.03%   0.32% 0.21% 0.29%
AUD -0.42% -0.23% -0.55% -0.29% -0.32%   -0.11% -0.05%
NZD -0.31% -0.13% -0.44% -0.17% -0.21% 0.11%   0.06%
CHF -0.35% -0.20% -0.52% -0.26% -0.29% 0.05% -0.06%  

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).

 

© 2000-2024. Sva prava zaštićena.

Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

Politika sprečavanja pranja novca

Upozorenje o rizicima

Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.

Politika poverenja

Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.

Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.

Банковни
транcфери
Feedback
Lajv čet E-mail
Povratak na vrh
Izaberi lokaciju / jezik