GBP/USD Price Forecast – British Pound Limps Into the Weekend

British Pound vs US Dollar Technical Analysis

The British pound has gone back and forth during the trading session on Friday, with a slight negative twist. At this point, the market looks as if it is more likely than not going to go looking to the 1.10 level, which is a larger round number that a lot of people will be paying attention to. If we were to break down below the 1.10 level, then it’s possible that we could go down to the 1.05 level after that. Ultimately, this is a market that will continue to pay attention to the United Kingdom and all of its issues, as we head into the winter. After all, there is going to be a significant concern out there when it comes to the idea of a lack of energy.

The market is slowing down a bit, but I do think that we are starting to get back into the “fade the rally” type of situation. It’s worth noting that the 50-Day EMA is sitting just above the 1.15 level and has offered a significant amount of a ceiling at this point. Ultimately, I think this is a situation where you are looking for opportunities after short-term pops, as the market continues to see a lot of negative behavior, and therefore think what we’ve got is a situation where it’s a simple matter of having a bit of patience and waiting for value in the US dollar, which will occur from time to time. Nothing is changed after the jobs number, we still see the US dollar act as if it is a wrecking ball.

GBP/USD Price Forecast Video for 10.10.22

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