Daily Market Forecast By Capitalcore

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GBPUSD Ichimoku and Regression Channel Insights

The GBP/USD currency pair, commonly known as “Cable”, represents the exchange rate between the British Pound Sterling (GBP) and the US Dollar (USD). It is one of the most heavily traded forex pairs globally, reflecting the economic health, interest rate policies, and geopolitical dynamics between the United Kingdom and the United States. Today’s market sentiment around GBP USD is shaped by several key macroeconomic events. On the GBP side, traders are watching closely for remarks from Bank of England (BOE) MPC Member Megan Greene, who will discuss “Monetary Policy under Uncertainty.” A more hawkish tone could strengthen the Pound as investors price in potential future tightening. Additionally, the IMF meetings in Washington may spark volatility as policymakers address global economic concerns. Meanwhile, the USD is expected to see low liquidity due to Columbus Day bank closures, though remarks from Federal Reserve officials—including Philadelphia Fed President Anna Paulson— could still guide sentiment. With U.S. inflation concerns lingering and policy divergence between the BOE and Fed, GBP USD may experience choppy trading as investors react to policy cues and economic outlooks from both sides.

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Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
On the 4-hour GBPUSD chart, the price is moving within a bearish descending regression channel, confirming a sustained downtrend. After the market opened, the pair faced a short-lived bullish correction, but the last candle has turned red following two strong green candles before the weekend close. The price is currently trading in the lower half of the channel, positioned between the Ichimoku Base Line and Conversion Line, while the Ichimoku Cloud (Kumo) remains red and trending downward, signaling persistent bearish momentum. The upper band of the regression channel has flattened, indicating potential consolidation before a new breakout. The %R (14) oscillator at -47.68 shows that the pair is currently in a neutral-to-slightly bearish zone, suggesting limited bullish strength unless a clear breakout above 1.34 occurs. Overall, GBP-USD remains under downside pressure, and traders should watch for reactions near the lower channel support for potential short-term rebounds or breakdown continuations. 

•DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore LLC”. This post has been published only for educational purposes.

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