empty
 
 
in
सहायता
तुरंत खाता खोलना
ट्रेडिंग प्लेटफॉर्म
जमा/ निकासी

19.06.202609:36 विदेशी मुद्रा विश्लेषण और समीक्षा: GBP/USD – June 19th: The Bank of England Weighs on the Pound

Relevance up to 02:00 2026-06-20 UTC--4

On the hourly chart, the GBP/USD pair continued its decline on Thursday and, on Friday morning, tested the 1.3158–1.3177 support level, rebounded from it, and reversed in favor of the pound. As a result, growth toward the 76.4% Fibonacci retracement level at 1.3277 may be seen today. Consolidation below the 1.3158–1.3177 level would allow traders to anticipate a continuation of the decline toward the next corrective level of 127.2% at 1.3025.

Exchange Rates 19.06.2026 analysis

The wave structure turned bearish again following the FOMC meeting. The last completed upward wave broke above the previous peak, while the new downward wave broke below the previous low. It is difficult to say how long the bears will maintain their momentum this time, but support for the U.S. dollar may prove temporary. If we set aside the wave analysis, bears continue to maintain full control of the market. However, once the conflict in the Middle East comes to an end, it will be difficult to expect sustained long-term growth in the dollar.

Thursday's news background favored the bulls, but the bears paid no attention to it. They simply overwhelmed the bulls. First, the UK unemployment report came in below traders' expectations and therefore should have supported the pound. Then, the Bank of England demonstrated a slightly more hawkish stance in its monetary policy vote, which should also have supported bullish sentiment. In reality, however, neither event had any noticeable impact on trader sentiment. The market continued to price in the results of the Federal Reserve meeting, although I personally see no reason for such a strong appreciation of the U.S. dollar even in this case. Thus, traders' reaction to the Fed meeting proved unexpectedly strong. The market completely ignored the UK unemployment report. The Bank of England meeting was also overlooked. Under such circumstances, bears could continue pushing the market significantly lower. This is, of course, an exaggeration, but the news background once again has little influence on market movements. Therefore, it is currently best to rely on technical analysis.

Exchange Rates 19.06.2026 analysis

On the 4-hour chart, the GBP/USD pair rebounded from the 38.2% Fibonacci retracement level at 1.3429, reversed in favor of the U.S. dollar, and declined toward the 0.0% Fibonacci level at 1.3159. A rebound from this level would support the pound and allow for a moderate recovery toward 1.3327. Consolidation below 1.3159 would increase the probability of a continued decline. No emerging divergences are currently observed on any indicator.

Commitments of Traders (COT) Report:

Exchange Rates 19.06.2026 analysis

The sentiment of the Non-commercial trader category became more bearish during the latest reporting week. The number of long positions held by speculators decreased by 7,944, while the number of short positions increased by 4,051. The gap between long and short positions now stands at approximately 46,000 versus 109,000. Bears have dominated the market in recent months, which comes as no surprise given the geopolitical situation in the Middle East and the political crisis in the United Kingdom. The bears' advantage is now more than twofold.

I still do not believe in a long-term bearish trend for the pound, but in the near term everything will depend not on economic indicators, Trump's trade policy, or central bank monetary policy, but rather on the duration, scale, and consequences of the conflict in the Middle East. In recent weeks, the market has adjusted to the prospect of a prolonged conflict, but recent developments suggest that a ceasefire may still be achieved, although it is unlikely to be quick or easy.

U.S. and UK Economic Calendar:

The June 19 economic calendar contains no noteworthy events. Therefore, the impact of the economic background on market sentiment on Friday is expected to be absent.

GBP/USD Forecast and Trading Tips:

Selling opportunities were available following a rebound from the 1.3454–1.3466 level and after a close below the 1.3277 level on the hourly chart, with targets at 1.3408, 1.3349–1.3355, 1.3277, and 1.3158–1.3177. All targets have been reached. New short positions may be considered after consolidation below 1.3158, with a target at 1.3025. Long positions may be considered following a rebound from the 1.3158–1.3177 zone, targeting 1.3277.

Fibonacci grids are plotted from 1.3158 to 1.3655 on the hourly chart and from 1.3866 to 1.3158 on the 4-hour chart.

*यहां पर लिखा गया बाजार विश्लेषण आपकी जागरूकता बढ़ाने के लिए किया है, लेकिन व्यापार करने के लिए निर्देश देने के लिए नहीं |

Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

अभी बात नहीं कर सकते?
अपना प्रश्न पूछें बातचीत.