Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
Kenny Fisher
GBP/USD Weekly Price Forecast - British Pound Has Strong Week

GBP/USD has posted slight gains on Wednesday, erasing much of the losses seen in the Tuesday session. Currently, the pair is trading at 1.3154, up 0.26% on the day.

Pound Looks for Footing in Nervous Markets

The U.S. drone attack which killed an Iranian general last week has shaken up the markets, and the pound has been marked by swings in both directions this week. The currency may have trouble finding its footing this week, as nervous investors follow developments in the Middle East. Given the extremely tense situation, I would counsel caution on the part of traders, as the markets remain unsettled. Iran attacked several military bases in Iraq on Wednesday, and a response from the U.S. could further unnerve investors and boost the safe-haven U.S. dollar.

Know where GBP/USD is headed? Take advantage now with 

75% of retail CFD investors lose money



Technical Analysis

The 1.3150 line remains relevant this week. Currently, this line is under pressure in support and could be tested during the day. This is followed by 1.3050. Below, there is support at 1.30, which has psychological significance. On the upside, we find resistance at 1.3220, followed by the round number of 1.3300.

GBP/USD 1-Day Chart


Pacific Currencies – Daily Summary


USD/CNY continues to lose ground this week. Currently, the pair is trading at 6.9374, down 0.10% on the day. On Tuesday, the yuan touched a 5-month high against the dollar. There are no Chinese events on the schedule. On Thursday, China releases CPI, which could trigger stronger movement from the pair.


AUD/USD has steadied on Wednesday, after falling 1.1% on Tuesday. This was the sharpest one-day decline since April. Currently, the pair is trading at 0.6882, up 0.32% on the day. There was good news from the construction industry, as Building Approvals jumped 11.8%, its sharpest gain since February.


NZD/USD has recorded gains on Wednesday, recovering the losses from a day earlier. Currently, NZD/USD is trading at 0.6670, up 0.46% on the day. The New Zealand dollar remains under pressure, as it has lost close to 1.0% since the start of the year.

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.