Sterling (GBP) Price Outlook - A Seriously Busy Week Ahead
GBP Price, News and Latest Analysis
- BoE and FOMC will leave rates unchanged, commentary important.
- A wide selection of Sterling pairs will see volatility this week.
A very busy week with a wide range of data releases, central bank decisions and the monthly US Labour report to keep traders busy. Add into the mix low volume markets in Asia with Japan off, and the possibility of sharp moves in a range of crosses and assets increases markedly.
The Bank of England will leave rates unchanged but the QIR report and MPC minutes may give traders a clearer idea of the bank’s thinking and the future path of interest rates. The FOMC will also leave policy levers untouched but Chair Powell’s commentary could point to a slightly more dovish Fed.
Data releases across Europe will be watched by EURGBP traders as the near-term trading range may prove vulnerable to short-term moves. The FTSE 100 continues its multi-month move higher and one indicator suggests that the recent move lower may be coming to an end. And in the background, local UK elections on Thursday is likely to see the Conservative government lose huge number of seats due to the governments perceived dithering over Brexit.
GBPUSD Daily Price Chart (July 2018 – April 29, 2019)
What is your view on Sterling (GBP) – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author at firstname.lastname@example.org via Twitter @nickcawley1.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.