Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
Nikhil Khandelwal
1 Pound Coins

After initiating sliding since April 15, the cable finally uplifted with some firm movements. The GBP/USD had remained kind of apathetic in the last couple of sessions amid the lack of Brexit headlines. Today, the pair caught some fresh bids shifting it 35 pips up, marking new daily high at 1.3067 levels. The sudden upsurge gets discounted to the optimism developed around the upcoming UK March Retail Price Index, CPI, and PPI figures.

In the meanwhile, there remains a lack of updates from the Brexit front as the House got adjourned on Easter Recess. However, the May-Corbyn talks over the Customs Union issue show slight progress which minorly upticks the cable.

Key GBP/USD Events:

08:30 GMT (High & Mid volatile)

The National Statistics will publish the following March indexes for the UK:

  • The Consumer Price Index (CPI) (Both YoY & MoM): The consensus is bullish towards YoY with 2.0 percent while they expect lower MoM index with 0.3 percent than previous 0.5 percent.
  • The Core CPI YoY: The index will consider only those items which are stable in price, unlike energy & food. The analysts are positive in their estimates to come around 1.9 percent to the prior.
  • The Retail Price Index (Both YoY & MoM): The market analysts remain bearish over the YoY & MoM index to occur at 2.1 and 0.2 percent respectively.
  • Producer Price Index (PPI) Input (YoY): The experts are expecting an increase in the numbers to reach 3.9 percent than former 3.7 percent.
  • PPI Core Output (YoY): The analysts stay aligned to the previous index 2.2 percent.

12:30 GMT (Mid Volatile)

The Bureau of Economic Analysis and the US Census Bureau will broadcast the Trade Balance. The analysts are expecting a negative balance of $53.7 billion than the previous negative $51.1 billion.

13:00 GMT (High Volatile)

The Governor of the Bank of England and Chairman of the Monetary Policy Committee, Mark Carney is expected to deliver a speech. He would emphasize strategies to mitigate climate change impacts on the economy.


Technical Analysis

GBPUSD 60 Min 17 April 2019

The GBP/USD showed some bearish sentiment from the SMA perspective. Although the pair moved hand-in-hand with 21-day SMA, other significant 100-day and 200-day SMA lied well above it. Also, the Relative Strength Index (RSI) positioned near 44.31 levels. Somehow, on the back of strong fundamentals if it uptrends then robust 1.3105 level awaits it. On the downside, the cable may have to face the solid support lines near 1.2987 and 1.3011 levels.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.