GBP/USD analysis: Cable on verge of big breakout | Forex Factory

  • GBP/USD analysis: Cable on verge of big breakout

    From forex.com

    The GBP/USD was looking strong at the time of writing on Friday, looking to post a weekly close of around 1.5%, supported by stronger UK data and weaker US macro pointers. In the week ahead, we have key UK inflation numbers and global PMI data to trigger the next move. Our GBP/USD analysis remains bullish because of our bearish view on the dollar. The GBP/USD was looking for a bullish breakout from a couple of converging trendlines on the long-term charts, and above resistance in the 1.2700 area. Will it be successful? Given the recent moves in other FX pairs, and precious metals, a bullish breakout would not come as ... (full story)

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Cdfx
May 19, 2024 2:01am
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Thank you for the tip. Now one knows for sure GBP/USD is going down.
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samdani786
May 19, 2024 12:33am
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GBP-USD weekly chart Analysis.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GU weekly BeB 04-22-24 Before a.png Size: 73 KB
Click to Enlarge Name: GU weekly 05-17-24 After so far.png Size: 25 KB
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Traderview
May 19, 2024 2:09am
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Nope. Next month only. Until then sideways only. 1.26 - 1.28.
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MauroHenriqu
May 22, 2024 4:52am
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**UK Inflation Rate Slows Less Than Expected**

The annual inflation rate in the UK eased to 2.3% in April, the lowest since July 2021, compared to 3.2% in March, but below forecasts of 2.1%. The largest downward pressure came from the fall in gas and electricity costs and a slower rise in recreation and culture. Core inflation fell to 3.9%, the lowest since October 2021, but also above expectations of 3.6%.

With this economic data GBP tends to retreat in the short term
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 15 KB
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Pensive
May 19, 2024 3:43am
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What will happen tomorrow on GBP? We sell or buy?
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Fripoto
May 19, 2024 7:19am
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GBPUSD will gain more strength in the week ahead. Only think of buy this pair.
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MauroHenriqu
May 19, 2024 10:29am
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Quoting Guest
CPI Y/Y for UK will be huge news this week. Estimated to come out at 2.1% will rock the GBP either way.
Shaken how? This week's sale
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oxbuck
May 19, 2024 4:34pm
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Weekly, click on the chart to enlarge
Trader#88C6
May 19, 2024 2:44am
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symmetrical triangle, 50 / 50 chance of breaking out either way in the race to debase.
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Trader#A7D1
May 19, 2024 3:16am
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CPI Y/Y for UK will be huge news this week. Estimated to come out at 2.1% will rock the GBP either way.
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Trader#69CD
May 19, 2024 11:10am
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which time frame is this?
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