US Dollar Outlook Depends on NFP Data with Fed Rate Cut in Focus
USD. The GBP/USD pair has been trading within a descending channel since June, with clear lower highs and lower lows indicating a bearish trend. Currently, the pair is testing the lower boundary of the channel, posing a potential opportunity for traders to look for a bounce or a break below this critical level. Keep an eye on any news regarding Brexit or US economic data, as they could influence the pair’s movement significantly.
In conclusion, the upcoming week is filled with high-impact economic data releases and events that could shape the direction of various markets. Keep an eye on the US NFP data, Chinese PMI figures, and any speeches by central bank officials for potential market-moving information. Stay informed, stay engaged, and happy trading!
