empty
 
 
sp
Soporte
Apertura instantánea de la cuenta
Plataforma comercial
Depositar/Retirar

18.09.202404:47 Forex Analysis & Reviews: Forecast for GBP/USD on September 18, 2024

The pound's rapid growth on Monday showed its weakness yesterday, as the price returned to the support level of 1.3141. Naturally, this is a more convenient position to wait for the Federal Reserve's rate decision. Since we expect a rate cut of only 0.25% rather than the 0.50% the markets have priced in, we are waiting for the dollar to strengthen and the pound to fall to 1.3080.

Exchange Rates 18.09.2024 analysis

Following this, the pound may continue its decline after the Bank of England's meeting. Seven members of the committee are expected to vote to keep the current rate at 5.00%, while two will vote in favor of lowering it. Today, the UK will release its August CPI report. The core index is expected to rise from 3.3% y/y to 3.6% y/y, while the overall index is forecast to remain unchanged at 2.2% y/y.

In the Eurozone, the current CPI is 2.6% y/y, and the core CPI is 2.9%, yet the refinancing rate is lower. So, even if the UK data slightly exceeds expectations, it may not impact today's vote on the rate but could significantly soften expectations. As a result, we could see the pound drop to the 1.2994 mark.

Exchange Rates 18.09.2024 analysis

On the four-hour chart, the Marlin oscillator is on the verge of entering the downtrend territory. The price remains above the 1.3141 level and the MACD line (1.3116), indicating a wait-and-see mode.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Laurie Bailey,
Analytical expert of InstaSpot
© 2007-2024
Benefíciese de las recomendaciones de los analistas ahora mismo
Recargue su cuenta de operaciones
Abra una cuenta de operaciones

¡Los informes analíticos de InstaSpot lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaSpot, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.