empty
 
 
vi
Hỗ trợ
Mở tài khoản ngay lập tức
Tải nền tảng giao dịch Metatrader
Khởi động WebTrader

29.10.202108:32 Forex Analysis & Reviews: GBP/USD breaking forecast on October 29, 2021

The pound sterling went up after the release of macroeconomic reports in the United States that missed market expectations. Thus, the Q3 GDP growth rate in the US slowed down to 4.9% from 12.2% y/y. The American economy expanded by 2% on quarter in Q3 2021, well below market forecasts of 2.7%. Based on several indicators published on a monthly basis, it has already been clear that the US economy is expanding faster than GDP data shows. It turned out that within the past two months, demand for the US dollar among investors was very high, and it became necessary to balance it, which led to a noticeable weakening of the greenback. At the same time, it could have been an even sharper drop, if not for jobless claims that came out better than market forecasts. In particular, initial claims decreased by 10K, well above market expectations of 6K. Meanwhile, continuing claims declined by 237K. The reading was projected to drop by 160K.

United States GDP Growth Rate:

Exchange Rates 29.10.2021 analysis

Data on the UK's mortgage market is likely to exert pressure on the sterling today. Indeed, it accounts for at least one-fifth of the British economy. Anyway, mortgage approvals are estimated to drop to 71K versus 74.5K. At the same time, mortgage lending is projected to fall to GBP 5.1 billion from GBP 5.3 billion in the previous month. In other words, one of the key economic sectors in the US is slowing down. A possible increase in consumer credit by GBP 0.8 billion from GBP 0.4 billion in the previous month could hardly change anything. This data could only somehow offset negative consequences for the pound.

United Kingdom Mortage Approvals:

Exchange Rates 29.10.2021 analysis

An attempt to reverse the trend failed as soon as the price returned in the resistance range of 1.3800/1.3830. The swing low as of October 18 is seen as a pivot point.

The 38.2 Fibonacci level confirms the pivot point, signaling a trading flat in the range of 1.3730/1.3830.

The Relative Strength Index (RSI) shows that the price is approaching the area of resistance by touching the overbought zone on the H1 chart.

On the daily chart, there is a downward trend that started in early June. A corrective move has not led to a reversal. As a result, the correction is being replaced by a flat.

Outlook:

The resistance zone of 1.3800/1.3830 is likely to continue exerting pressure on the pair, which could lead to a flat in the range of 1.3730/1.3830.

In terms of complex indicator analysis, technical indicators are signaling to sell the pair for short-term and intraday trading as the price has bounced from the resistance zone.

Exchange Rates 29.10.2021 analysis

*Phân tích thị trường được đăng tải ở đây có nghĩa là để gia tăng nhận thức của bạn, nhưng không đưa ra các chỉ dẫn để thực hiện một giao dịch.

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.

The Second Wave of the AI Boom: Which Software Companies (SaaS) Will Monetize the Technology in 2027?
The corporate software market (SaaS) is undergoing a significant structural transformation, shifting from purchasing basic AI hardware to directly monetizing ready-made business solutions. After a deep correction in technology sector valuations in the first half of 2026, when investors began.
Author: Dean Leo
02:29 2026-07-02 UTC--4
10843
Digital Gold vs. Physical Gold: Will Bitcoin Displace Traditional Safe-Haven Assets During Market Panic?
The comparison between Bitcoin (BTC/USD) and physical gold (XAU/USD) has reached a new level of volatility. After hitting record highs at the end of last year, the digital asset entered a prolonged downward correction, losing a significant portion of its value and testing strong psychological.
Author: Dean Leo
02:18 2026-07-02 UTC--4
10948
Crash or Comeback of the Yen: Can the USD/JPY Pair Return to Psychological Lows After Interventions?
Despite the recent historic increase in the key interest rate by the Bank of Japan to 1.0% (the highest since 1995) and a series of large-scale currency interventions by the Ministry of Finance, the national currency is not in a hurry to stage a comeback.
Author: Dean Leo
02:18 2026-07-02 UTC--4
14188
Show more
Không thể nói chuyện ngay bây giờ?
Đặt câu hỏi của bạn trong phần trò chuyện.