- Sterling is strengthened by a wide weakness of the US dollar because DXy slips above 0.18%.
- The Fed reduced rates last week, signaled 50 bps of further release at the end of the year, although Powell reduced the prospects of a larger step.
- The fragility of the work of British work and the imminent fiscal consolidation could reduce the profits of Sterling before the autumn budget risks.
Libra Sterling (GBP) will reflect a two -week minimum of 1,3453 on Monday, but the bulls are not from the forest, after the couple hit the 1,3726 peak last week before the federal reserve decreased to reduce interest interest rates. GBP/USD trades to 1.3496, which is 0.27%.
GBP/USD is recovering above 1.35 because the fed cut weighs the dollar; Fiscal and working headwinds in the UK maintain bulls careful
During Monday meeting, Greenback depreciation depreciates as shown by the US Dollar index (DXY). DXY, which monitors the power of the buck value against a basket of six currencies, immerses 0.18% to 97.47, which provides support for most G10 FX currencies.
Last week, the Fed raised rates and set a total of 75 basic release points, including last Wednesday, until the end of the year. Yet the Fed Chair Jerome Powell He hit a slight Hawkish tone on his affin and said that cuts last week was a risk management action rather than setting interest rates. Asked about the section 50 BPS said: “No widespread support for 50 BPS today.”
In addition, the eyes are at the US Congress because the legislators face the deadline of 30 September to approve the bill on financing to prevent government shutdown. Senators are expected to be back in Washington until September 28, while the house members will not be able to return up to 7 October.
Throughout the pond, economists have revealed that the vulnerable labor market in the UK and perhaps the need for further fiscal consolidation in the autumn budget could limit the GBP/USD procedure.
Docket in the UK will represent Bank of England Governor Andrew Bailey and chief economist Huw Pill and edition S&P Global Flash PMIS on Tuesday. In the US, Governor Stephen Miran, Richmond Fed Thomas Barkin and Cleveland Fed Beth Hammack fed.
GBP/USD Price prognosis: Buyers must clean 1.3560 to challenge higher prices
Although GBP/USD prints the leg, it face resistance on a 20 -day simple sliding diameter (SMA) to 1.3520. The inability to end the day over 1.3500 could sponsor the continuation of the short -term descending Dowrend, which could test 1.3400, while the bears look at another area of interest at 1.332, which is low September.
Otherwise, if GBP/USD It will complete Monday’s sessions over 1,3500, look for the challenge of the last Friday maximum 1.3559. Once it is outdated, a bullshit chart would be created that paved the way for further awake.
The use of the Šterlinky price this month
The table below shows the percentage change in the British pound (GBP) against the main currencies. The British pound was the strongest against the Canadian dollar.
| USD | Eur | GBP | Jy | CAD | Auditorium | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.65% | -0.06% | 0.58% | 0.56% | -0.64% | 0.50% | -0.74% | |
| Eur | 0.65% | 0.61% | 1.17% | 1.23% | 0.00% | 1.16% | -0.09% | |
| GBP | 0.06% | -0.61% | 0.46% | 0.62% | -0,59% | 0.56% | -0.63% | |
| Jy | -0,58% | -1.17% | -0,46% | 0.04% | -1.20% | -0.04% | -1.29% | |
| CAD | -0,56% | -1.23% | -0.62% | -0.04% | -1.19% | -0.06% | -1.25% | |
| Auditorium | 0.64% | -0.00% | 0.59% | 1.20% | 1.19% | 1.16% | -0.04% | |
| NZD | -0.50% | -1.16% | -0,56% | 0.04% | 0.06% | -1.16% | -1.19% | |
| CHF | 0.74% | 0.09% | 0.63% | 1.29% | 1.25% | 0.04% | 1.19% |
The heat map shows the percentage changes in the main currencies against each other. The basic currency is selected from the left column, while the currency of the menu is selected from the upper row. For example, if you choose a British pound from the left column and move along the horizontal line to the US dollar, the percentage change displayed in the box will be GBP (Base)/USD (Quote).
