Technical analysis of GBP/USD

שלשוםDuring European trading hours on Friday (September 27), sterling/dollar traded cautiously ahead of the release of US economic data. Sentiment depends on inflation data and consumer spending results.

The pound is trading cautiously ahead of the CBI's realised sales data, which is expected to show a smaller contraction at -17 compared to -27 last month.

Stronger-than-expected data could support the pound, while weaker data could add to selling pressure.

The pound/dollar was trading at $1.3378, down 0.27% and below its pivot at $1.3389. The pair faces resistance at $1.3407 in the near term, with further resistance at $1.3434 and $1.3458.

Immediate support is at $1.3360, with additional downside protection at $1.3335 and $1.3312.

Currently, the 50 moving average at $1.33586 provides some short-term support, while the 200 moving average at $1.32425 provides a more solid base. If GBP/USD breaks above $1.3389, momentum could turn bullish.

Conversely, a break below $1.3360 could invite more selling pressure and extend losses.

שלשום

עסקה פעילה

The CBI retail sales gap recorded a reading of 4 in September, the highest level since May.
The CBI retail sales Expectations index recorded a 5 percent reading in September, the highest expectation since April 2023.
UK September CBI retail sales expectations index 5, previous value -17.