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Photo Source: Nurhakim via GIC[/caption] In today's Asian market session, it is predicted that the movement of the Pound Sterling currency will weaken. This weakness is estimated to be due to the still strengthening of the US Dollar currency and concerns arising from the discussion of resolving the Brexit issue. In addition, the limited volume of transactions that occur in the market also makes the movement of the Pound Sterling limited. The condition of the US Dollar currency is still on its strengthening path compared to several other major currencies. The strengthening of the US Dollar currency is supported by the results of the FOMC meeting and the increase in bond yields with a tenor of 10 years. In addition, 3 Fed officials last night reaffirmed their support for the Fed's plan to tapering. The three Fed officials are New York Fed President "John William", Chicago Fed President "Charles Evans" and Fed President Lael "Brainard", these officials generally agree on bond tapering, but it must also be seen about at least economic growth until the end of 2023. Regarding the problem of the threat of a large Chinese property company, "Evergrande" about its concern of default despite the support of the Central Bank of China where the People's Bank of China has injected funds of around 90 billion yuan to anticipate fears in the market. For today's technical analysis, it is expected that the movement of GBPUSD will weaken the effect of profit-taking by market participants, besides that the movement of the Pound Sterling is also limited by the strengthening of the US Dollar. Today's pivot level is at 1.36939, if the strengthening continues, it will head to the Resistance 1 level at 1.37301 and the Resistance 2 level at 1.37648. If the strengthening of the Pound Sterling is limited, there is a high chance that it will return to the Pivot level, and can even continue to the Support 1 level at 1.36592 and Support 2 at 1.36230. For Fundamental Analysis today, there will be an agenda for the statement of the Fed Central Bank Chairman "Jerome Powell" Fed Chair Powell Testifies which is planned at 21:00 WIB. This statement is about the condition of the Covid-19 pandemic and its handling before the senate. Keep a good eye on Money Management and Risk Management to protect your funds. Thus the daily analysis of GBPUSD today. You can read other articles and daily analyses in the GIC Journal. Also get bonuses from GIC such as Friday Barokah and GIC affiliate program.
GBPUSD Daily Analysis: September 28, 2021 - Pound Strengthens
Oleh Nurhakim
Last updated at
17 Jan 2025 13:00
34
The daily analysis of GBPUSD from the GIC team this time discusses the market movement on the first trading day of this week, for GBPUSD in general is still dominated by the strengthening of the Pound Sterling against the US Dollar. The strengthening of the British currency is supported by the Bank of England's plan to cut stimulus, although on the other hand the US Dollar is still in a strengthening condition. The shadow of Brexit agreement concerns still continues to overshadow the movement of the Pound, besides that market participants are also still waiting for the agenda of the statement from the chairman of the Federal Reserve Central Bank later tonight at 21:00 WIB. [caption id="attachment_7112" align="alignnone" width="1029"] Photo Source: Nurhakim via GIC[/caption] In today's Asian market session, it is predicted that the movement of the Pound Sterling currency will weaken. This weakness is estimated to be due to the still strengthening of the US Dollar currency and concerns arising from the discussion of resolving the Brexit issue. In addition, the limited volume of transactions that occur in the market also makes the movement of the Pound Sterling limited. The condition of the US Dollar currency is still on its strengthening path compared to several other major currencies. The strengthening of the US Dollar currency is supported by the results of the FOMC meeting and the increase in bond yields with a tenor of 10 years. In addition, 3 Fed officials last night reaffirmed their support for the Fed's plan to tapering. The three Fed officials are New York Fed President "John William", Chicago Fed President "Charles Evans" and Fed President Lael "Brainard", these officials generally agree on bond tapering, but it must also be seen about at least economic growth until the end of 2023. Regarding the problem of the threat of a large Chinese property company, "Evergrande" about its concern of default despite the support of the Central Bank of China where the People's Bank of China has injected funds of around 90 billion yuan to anticipate fears in the market. For today's technical analysis, it is expected that the movement of GBPUSD will weaken the effect of profit-taking by market participants, besides that the movement of the Pound Sterling is also limited by the strengthening of the US Dollar. Today's pivot level is at 1.36939, if the strengthening continues, it will head to the Resistance 1 level at 1.37301 and the Resistance 2 level at 1.37648. If the strengthening of the Pound Sterling is limited, there is a high chance that it will return to the Pivot level, and can even continue to the Support 1 level at 1.36592 and Support 2 at 1.36230. For Fundamental Analysis today, there will be an agenda for the statement of the Fed Central Bank Chairman "Jerome Powell" Fed Chair Powell Testifies which is planned at 21:00 WIB. This statement is about the condition of the Covid-19 pandemic and its handling before the senate. Keep a good eye on Money Management and Risk Management to protect your funds. Thus the daily analysis of GBPUSD today. You can read other articles and daily analyses in the GIC Journal. Also get bonuses from GIC such as Friday Barokah and GIC affiliate program.
Photo Source: Nurhakim via GIC[/caption] In today's Asian market session, it is predicted that the movement of the Pound Sterling currency will weaken. This weakness is estimated to be due to the still strengthening of the US Dollar currency and concerns arising from the discussion of resolving the Brexit issue. In addition, the limited volume of transactions that occur in the market also makes the movement of the Pound Sterling limited. The condition of the US Dollar currency is still on its strengthening path compared to several other major currencies. The strengthening of the US Dollar currency is supported by the results of the FOMC meeting and the increase in bond yields with a tenor of 10 years. In addition, 3 Fed officials last night reaffirmed their support for the Fed's plan to tapering. The three Fed officials are New York Fed President "John William", Chicago Fed President "Charles Evans" and Fed President Lael "Brainard", these officials generally agree on bond tapering, but it must also be seen about at least economic growth until the end of 2023. Regarding the problem of the threat of a large Chinese property company, "Evergrande" about its concern of default despite the support of the Central Bank of China where the People's Bank of China has injected funds of around 90 billion yuan to anticipate fears in the market. For today's technical analysis, it is expected that the movement of GBPUSD will weaken the effect of profit-taking by market participants, besides that the movement of the Pound Sterling is also limited by the strengthening of the US Dollar. Today's pivot level is at 1.36939, if the strengthening continues, it will head to the Resistance 1 level at 1.37301 and the Resistance 2 level at 1.37648. If the strengthening of the Pound Sterling is limited, there is a high chance that it will return to the Pivot level, and can even continue to the Support 1 level at 1.36592 and Support 2 at 1.36230. For Fundamental Analysis today, there will be an agenda for the statement of the Fed Central Bank Chairman "Jerome Powell" Fed Chair Powell Testifies which is planned at 21:00 WIB. This statement is about the condition of the Covid-19 pandemic and its handling before the senate. Keep a good eye on Money Management and Risk Management to protect your funds. Thus the daily analysis of GBPUSD today. You can read other articles and daily analyses in the GIC Journal. Also get bonuses from GIC such as Friday Barokah and GIC affiliate program.
Professionally, he has been involved in the world of trading since 2009. Experienced in building a Marketing Team & Telemarketing with division members of 5 - 20 people. Currently a Trainer, Market Analyst at GIC since 2019.
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