Hello to all of our subscribers.
Please share your personal opinions in the comments. We kindly ask for your support through boosters and subscriptions.
Bailey, the governor of the Bank of England, hinted that a rate cut could be possible before inflation reaches the 2% target, mentioning that although the UK economy has entered a downturn, it is likely to remain shallow. Meanwhile, in the US, the minutes of the FOMC meeting were released, reaffirming the Fed's cautious approach to rate cuts. However, the minutes also eased concerns about additional rate hikes, as most members agreed that the benchmark rate may have reached its peak in this tightening cycle.
- US Q4 GDP will be announced on February 28th.
- US Personal Consumption Expenditures Price Index will be released on February 29th.
- Germany's Consumer Price Index will be announced on February 29th.
- Eurozone Consumer Price Index will be released on March 1st.
The GBP/USD chart is showing an upward trend, supported by the trendline, indicating ongoing bullish momentum. If it crosses the 1.27000 line, it's expected to rise smoothly to the upper trendline resistance. Looking ahead, there could be a medium to long-term uptrend towards the trend's peak at the 1.35000 line. However, since there isn't enough material to break through the trendline resistance yet, it's advantageous to consider market responses with the peak at the 1.30000 line.
To summarize,
1. Short-term rise supported by trendline, followed by a short-term decline at the trendline resistance around 1.30000.
1. Breakthrough of the 1.30000 line supported by the trendline, with a medium to long-term rise towards 1.35000.
These two movements currently seem the most likely. However, if there are any variables, we will adjust our strategy accordingly.
Please share your personal opinions in the comments. We kindly ask for your support through boosters and subscriptions.
Bailey, the governor of the Bank of England, hinted that a rate cut could be possible before inflation reaches the 2% target, mentioning that although the UK economy has entered a downturn, it is likely to remain shallow. Meanwhile, in the US, the minutes of the FOMC meeting were released, reaffirming the Fed's cautious approach to rate cuts. However, the minutes also eased concerns about additional rate hikes, as most members agreed that the benchmark rate may have reached its peak in this tightening cycle.
- US Q4 GDP will be announced on February 28th.
- US Personal Consumption Expenditures Price Index will be released on February 29th.
- Germany's Consumer Price Index will be announced on February 29th.
- Eurozone Consumer Price Index will be released on March 1st.
The GBP/USD chart is showing an upward trend, supported by the trendline, indicating ongoing bullish momentum. If it crosses the 1.27000 line, it's expected to rise smoothly to the upper trendline resistance. Looking ahead, there could be a medium to long-term uptrend towards the trend's peak at the 1.35000 line. However, since there isn't enough material to break through the trendline resistance yet, it's advantageous to consider market responses with the peak at the 1.30000 line.
To summarize,
1. Short-term rise supported by trendline, followed by a short-term decline at the trendline resistance around 1.30000.
1. Breakthrough of the 1.30000 line supported by the trendline, with a medium to long-term rise towards 1.35000.
These two movements currently seem the most likely. However, if there are any variables, we will adjust our strategy accordingly.