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06.08.202617:34 विदेशी मुद्रा विश्लेषण और समीक्षा: GBP/USD – Smart Money Analysis: The British Pound Awaits the Next Market Move

Relevance up to 11:00 2026-08-07 UTC--4

Exchange Rates 06.08.2026 analysis

The GBP/USD pair has been trading relatively calmly this week, clearly awaiting the key economic reports due tomorrow. Bulls resumed their advance at the end of June, followed by a typical corrective pullback. They are now attempting to launch another upward move but are waiting for new fundamental support.

Bearish imbalance 24 has been breached without triggering any meaningful price reaction. As a result, it can now be considered inverted. Last Friday, the market reacted to this pattern from above, meaning it has been successfully validated and has generated a bullish signal. As for the fundamental backdrop, I believe the incoming data continue to support the British pound.

As I have noted before, geopolitical developments are no longer providing meaningful support to the US dollar, as new escalations in the conflict occur roughly every two weeks. Each new escalation has been largely similar to the previous ones. According to some reports, negotiations between Tehran and Washington are continuing; according to others, they have been paused or have completely broken down. Officially, Tehran denies holding direct talks with the United States but continues negotiations through mediators, particularly Oman. It remains unclear whether these negotiations will lead to an end to the conflict and the reopening of the Strait of Hormuz. Iran may be able to reach an agreement with Oman regarding oversight of the Strait, but it is unclear how that alone would resolve its dispute with the United States.

Last week, oil prices climbed to $100 per barrel, while this week they fell to $81. If events unfold according to the most pessimistic scenario, oil prices are likely to resume their rise and surpass the highs recorded between March and May. In that case, inflation in both the United States and the United Kingdom could begin accelerating again. Under a more optimistic scenario, however, oil prices could return to the $60–70 per barrel range. In that case, further monetary tightening by the Federal Reserve may not be necessary, while the Bank of England is already no longer facing the problem of persistently high inflation. At present, however, it is the Federal Reserve that remains reluctant to take a hawkish step, although one may be warranted, whereas the Bank of England would only consider tightening monetary policy if inflation begins to accelerate—a development for which there is currently no evidence.

Technical analysis indicates that bulls are preparing another advance. At present, traders have two bullish imbalances (24 and 25), both of which may be considered potential buying zones. Last Friday, imbalance 24 generated a bullish signal that traders could have used to initiate long positions. On Monday, the price returned to this pattern once again and rebounded from it. There are currently no bearish patterns on the chart. Therefore, if bears begin a new downward move, there is currently no technical basis for opening short positions.

Thursday's economic calendar was essentially empty. There were no economic releases in the United Kingdom, while the only US data were weekly initial jobless claims, which attracted virtually no attention ahead of the Nonfarm Payrolls report and the unemployment rate. As a result, market activity has remained extremely subdued today.

The broader fundamental backdrop remains such that, from a long-term perspective, I continue to expect nothing other than further weakness in the US dollar. Even the conflict between Iran and the United States has not changed that outlook. Nor has the possibility of a Federal Reserve rate hike in 2026. Geopolitical tensions temporarily reminded the market of the dollar's safe-haven status for several months, but the conflict has already moved beyond its most active phase. The Federal Reserve intends to raise interest rates in 2026, which is supportive for the dollar. However, it should also be remembered that tighter monetary policy would slow both economic growth and the labor market. In addition, Kevin Warsh was appointed by Donald Trump to lead the FOMC with the objective of pursuing a more accommodative monetary policy—something Jerome Powell was unable to deliver. Therefore, in my view, any appreciation of the US dollar is likely to be temporary and driven by short-term factors.

Economic Calendar for the United States and the United Kingdom

United States

  • Nonfarm Payrolls (12:30 UTC)
  • Unemployment Rate (12:30 UTC)
  • Average Hourly Earnings (12:30 UTC)

On August 7, the economic calendar includes three scheduled releases, at least two of which I consider highly important. Therefore, economic data could have a significant impact on market sentiment during the second half of Friday's trading session.

GBP/USD Forecast and Trading Tips

The long-term outlook for the British pound remains bullish. After liquidity was taken above the two most recent swing highs, bulls resumed their advance, followed by a corrective pullback and another bullish attempt. This week, I expect the pound to continue strengthening, although much will depend on the incoming economic data. Traders are awaiting US labor market figures, including the unemployment rate and Nonfarm Payrolls, which will largely shape the FOMC's decision at its September meeting.

If bears begin a fresh downward move, bearish patterns will be required before considering short positions, and there are currently none. Bulls have already received another buying signal. The next upward targets are the highs of July 15 and May 1, located at 1.3557 and 1.3656, respectively.

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

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