empty
25.01.2023 09:24 AM
Hot forecast for GBP/USD on 25/01/2023

Overall, the pound has lost its traction yesterday, which given the preliminary estimates of PMIs in both the UK and the United States, is not that surprising. GBP ended up posting small daily losses after the data from the UK showed that S&P Global Services PMI fell to 48 in early January when it should have risen from 49.9 points to 50.0 points. The Manufacturing PMI, on the other hand, improved modestly to 46.7 from 45.3 in the same period, which was much better than the forecasted 46.0 points. But just at the expense of the Services PMI, the UK Composite PMI fell to 47.8 in January of 2023 from 49 in December, missing market expectations of 49.6.

UK PMI Composite:

This image is no longer relevant

On the other hand, the US PMIs came out significantly better than forecasts. The services activity PMI increased from 44.7 points to 46.6 points, though the growth to 45.0 points was expected. On the manufacturing side, instead of decreasing from 46.2 points to 45.0 points, the PMI came in at 46.8 points. As a result, the PMI Composite rose from 45.0 points to 46.6 points, whereas it had been expected to rise only to 45.1 points.

US PMI Composite:

This image is no longer relevant

The only surprise is that the pound started to rise when the US data was released. But apparently, this is due to its already sharp decline, which began literally with the opening of trading. So it is nothing but a technical rebound. Of course, another factor is the fall in US Treasury yields. And it's rather significant. In other words, investors are still waiting for the Federal Reserve to show signs of easing rate hikes. In general, there is a growing confidence in the market that next week's rate hike will be the last in the current cycle, and the U.S. central bank will begin to prepare the market for a subsequent interest rate cut. This is a crucial factor that will have a significant impact on the dollar. Moreover, the macroeconomic calendar is totally empty today, so investors will have to rely on other factors. Such as expectations of the Fed's actions.

GBPUSD showed speculative activity in the market. The price fell below the 1.2300, and then rolled back.

On the four-hour chart, the RSI technical indicator had already crossed the 50 line from top to bottom. This means an increase in short positions on the pound.

Moving averages on the H4 Alligator are intersected with each other which means a slowdown in the bullish cycle or sideways trading. On the daily chart, moving averages are directed upward.

This image is no longer relevant

Outlook

Keeping the price below the 1.2300 mark is necessary for a transition from a pullback stage to a full-fledged correction. Otherwise, we can't rule out going back to moving around 1.2300/1.2440.

Complex indicator analysis suggests mixed signals for the short-term due to a pullback followed by a state of being stagnant. In the intraday period, the indicators are focused on the recent breakthrough of the 1.2300 level. In the mid-term period, the indicators are reflecting the upward cycle from the autumn of 2022.

Seleccione el marco de tiempo
5
min
15
min
30
min
1
hora
4
horas
1
día
1
s.
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO

Recommended Stories

Pronóstico urgente del par EUR/USD para el 19.11.2024

A juzgar por el modesto crecimiento del euro, existe la sensación de que el dólar aún no ha agotado todo su potencial de crecimiento, a pesar de la increíble sobrecompra

Dean Leo 07:29 2024-11-19 UTC+2

Previsión de última hora del par EUR/USD para el 26.08.2024

El euro se fortaleció frente al dólar estadounidense en casi un 1,5% durante la semana pasada, acercando la cotización al máximo local de la tendencia alcista. El instrumento técnico

Dean Leo 07:44 2024-08-26 UTC+2

Pronóstico urgente del EUR/USD para el 01.07.2024

Ya cerca del cierre de las operaciones del viernes, el dólar comenzó a perder posiciones. Y con la apertura de la sesión asiática de hoy esta tendencia continuó. De hecho

Dean Leo 08:18 2024-07-01 UTC+2

Zonas de Margen e Ideas de Trading para los pares AUD/USD, NZD/USD, USD/CAD (24.06.2024)

AUD /USD Tendencia a largo plazo: incertidumbre temporal. La máxima acumulación de volúmenes del contrato actual se encuentra en el rango, en las cotizaciones 0,66070-0,66210. En este momento

09:13 2024-06-24 UTC+2

Pronóstico urgente para EUR/USD del 24.06.2024

Se esperaba que los índices de actividad empresarial de la eurozona aumentaran ligeramente, mientras que en Estados Unidos disminuirían ligeramente. Pero no fue así. En Europa disminuyeron, y de forma

Dean Leo 09:04 2024-06-24 UTC+2

Pronóstico para EUR/USD el 20 de noviembre de 2023

No ocurrió mucho al principio, pero el dólar comenzó a perder terreno activamente cuando se abrió la sesión de operaciones en los Estados Unidos. Esto se debió a una serie

Dean Leo 14:16 2023-11-20 UTC+2

Pronóstico candente para GBP/USD el 2 de noviembre de 2023

La Reserva Federal, por ahora, ha sugerido que las subidas de tasas podrían mantenerse en espera durante el resto del año, y esto fue suficiente para impulsar el fuerte crecimiento

Dean Leo 09:09 2023-11-02 UTC+2

USD/JPY extiende su crecimiento como se esperaba

El par USD/JPY subió como se esperaba. He hablado de este escenario en el análisis de ayer. El fuerte crecimiento de DXY y la caída de los futuros

Ralph Shedler 15:25 2023-03-08 UTC+2

Pronóstico actualizado para el GBP/USD el 23/01/2023

La moneda británica siguió subiendo incluso después de que el Reino Unido informara que, en términos anuales, las ventas minoristas generales cayeron un 5,8 %, luego de una caída

Dean Leo 09:20 2023-01-23 UTC+2
¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.