GBP/USD: Upcoming Events in the Economic Calendar – Analysis & Forecasts – 12 December 2022

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The dynamics of major currencies including the euro, franc and the dollar and pound will be determined by meetings of their respective countries’ central banks this week.

Chief among them is the central bank meeting. Its interest rate decision will be published on Wednesday (19:00 GMT), the Bank of England’s decision – on Thursday (12:00 GMT).

At its meeting on December 15, the Bank of England is expected to raise its interest rate again (as well as the Fed’s 0.5%) to 3.5%. In theory, this should have a positive impact on GBP quotes, but time will tell how the currency and the GBP/USD pair will perform after this decision.

As we have already mentioned our present day “Fundamental analysis“, the GBP/USD pair is forming a positive trend, trying to enter the zone above the long-term resistance level of 1.2250. If the local resistance level of 1.2343 breaks, further development towards the key resistance levels of 1.2810, 1.2950, ​​which breaks the long-term GBP/USD bullish trend. , which is not rejected.

*) For the most important events of the week, see Most Important Economic Events of the Week 12/12/2022 – 12/18/2022

Support levels: 1.2250, 1.2200, 1.2180, 1.2110, 1.2100, 1.2000, 1.1940, 1.1900, 1.1825, 1.1800

Resistance levels: 1.2322, 1.2340, 1.2400, 1.2500, 1.2810, 1.2950


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