The dollar weakness experienced last week pushed the pair higher. Investors expect nonfarm payrolls to go GBP/USD higher. The technical scenario also remains bullish for the pound. The weekly forecast for GBP/USD for the coming week is up as the gains experienced this week could continue. This was brought on mainly by the weakness experienced by the dollar after the FOMC minutes pointed to the Fed possibly pausing rate hikes later in the year. -Are you interested in learning about forex indicators? Click here for details- Ups and downs of GBP/USD The GBP/USD pair had experienced much in the past week, starting on Monday when Governor Bailey spoke. He mainly hit back at critics who accused him of sleeping on the job while inflation rose. The Bank of England governor insisted that interest rate hikes would only damage a recovering economy. Tuesday saw the release of PMI data from the UK, which came in lower than expected, and the market pushed lower for the day. On Wednesday, investors mostly reacted to the FOMC meeting minutes, which saw the dollar push lower and GBP/USD close the day up. Dollar weakness extended to Thursday as GDP (QoQ) for the first quarter in the US came in lower than investors expected. This also saw GBP/USD close higher for the day. Friday was a quiet day across the board as not much happened in the markets. Get FREE Forex Signals Now! Next week’s key events for GBP/USD The coming week has holidays in both the US and the UK, affecting volatility. Memorial Day in the US will be on Monday, while the bank holiday will be on Thursday and Friday in the UK. The biggest thing investors will be looking out for next week will be the nonfarm payrolls, which could cause a lot of volatility on Friday. -Are you interested in learning about the forex signals telegram group? Click here for details- GBP/USD weekly technical forecast: Short-term Bulls dominating Looking at the daily chart, we can see that the price has broken above the 22-SMA and closed the week at around 1.2600 on a bullish candle. The coming week could see prices pulling back to retest the 22-SMA as support before pushing higher. The price might also just continue the trend up. However, the break of the SMA is not enough to change the long-term bias for GBP/USD, which is down. The market will need to show a lot more bullish momentum to change the trend to a bullish one. The short-term bias is bullish. Looking to trade forex now? Invest at eToro! Trade Forex Now! 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal GBP USD Forecast share Read Next Gold Weekly Forecast: Weaker Dollar Could Push Gold Back to 1900 Saqib Iqbal 2 weeks The dollar weakness experienced last week pushed the pair higher. Investors expect nonfarm payrolls to go GBP/USD higher. The technical scenario also remains bullish for the pound. The weekly forecast for GBP/USD for the coming week is up as the gains experienced this week could continue. This was brought on mainly by the weakness experienced by the dollar after the FOMC minutes pointed to the Fed possibly pausing rate hikes later in the year. -Are you interested in learning about forex indicators? Click here for details- Ups and downs of GBP/USD The GBP/USD pair had experienced much in the past… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
