• GBPUSD edged higher in the Asian session today.
  • The US Dollar Index remained below 93.00 following the previous session's decline.
  • Sterling continued gains as the US dollar weakened.
The GBPUSD daily analysis on August 31, 2021 from the GIC team this time will discuss the movement of the pound sterling against the US dollar in a limited range due to the Jackson Hole meeting last weekend, coupled with the cautious attitude taken by market participants. This condition actually puts pressure on the movement of the pound. At the time of writing today's GBPUSD analysis August 31, 2021, GBPUSD is at the level of 1.37753. The limited movement of GBPUSD is due to concerns among market participants that the number of patients with the new variant of COVID-19 in the UK will increase. The condition of the US dollar is still in a stable position, although it is at the lowest level in the last two weeks after Powell's statement at the Jackson Hole symposium last weekend. Powell highlighted the plan to start tapering at the end of this year, but instead maintained its low conditions and interest rates until an undetermined deadline. Although the condition of the US dollar is still at its lowest level, it does not make the movement of other currencies squirm and move actively to its highest level. This can be said that market participants are still waiting and focusing on the release of nonfarm payroll ADP data (will be released on Wednesday at 19:15 WIB) besides that there will be another important data release, namely NFP which will be released on Friday at 19:30 WIB. This NFP data will further confirm Powell's statement last weekend, whether it will boost the US dollar or even vice versa.

What is the technical analysis of GBPUSD?

GBPUSD daily analysis predicts trend to try bullish
  • Pivoit poin = 1,37547
  • Support 1 = 1,37348
  • Support 2 = 1,37136
  • Support 3 = 1,36937
  • Resistance 1 = 1,37759
  • Resistance 2 = 1,37958
  • Resistance 3 = 1,38170
This the daily analysis of GBPUSD on August 31, 2021, still prioritizes money management and risk management. You can also read other articles in the GIC Journal about GIC and forex. Don't forget to also take part in prize events such as a 100% deposit bonus.