British Pound Technical Outlook: GBP/USD Poised for Breakout Ahead of Fed, BoE

British Pound Technical Outlook: GBP/USD Multi-Timeframe Analysis

The British Pound is holding long-running support with its weekly opening range intact into UK inflation, the Fed and the Bank of England. Michael Boutros, StoneX Media Senior Market Analyst, walks through a multi time frame look at sterling and maps the week's event calendar onto the levels that matter. UK employment data showed unemployment holding at 4.9%, still a five-year high, with the claimant count adding to the picture of a softening labor market. UK consumer price inflation is expected to tick higher on both the headline and core readings, while markets have moved sharply toward pricing a Federal Reserve move at this meeting and a further one before year end. The Summary of Economic Projections and the dot plot, alongside the Monetary Policy Committee vote count, carry the signal for where policy goes next.

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Key AUD/USD Economic Data Releases

Written by Michael Boutros, Senior Technical Strategist

Follow Michael on X @MBForex