
US Dollar, GBP/USD, USD/CAD, USD/CHF, Gold Weekly Technical Outlook 11 2 2026
Sr. Technical Strategist Michael Boutros highlights the levels that matter on the USD Majors, commodities, and equity indices charts this week.
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Sr. Technical Strategist Michael Boutros highlights the levels that matter on the USD Majors, commodities, and equity indices charts this week.

The GBP/USD heads into a crowded week of event risk, with the midterm elections, a Bank of England rate decision and Friday's non-farm payrolls report all capable of moving markets sharply. The greenback remains fundamentally well supported by a hawkish Federal Reserve, but much of that is already priced in, while the renewed sell-off in technology stocks has exposed its vulnerability.

We’ve heard from the Fed, ECB and BoC with the BoJ up next later tonight and DXY trajectory hangs in the balance depending on how hawkish the Bank of Japan might turn out to be.

Sterling’s sharp retreat from major resistance puts critical support in focus, raising the stakes for GBP/USD ahead of the Fed decision.

GBP/USD struggles ahead of the Budget and Fed rate decision. EUR/USD under pressure ahead of the Fed and ECB rate decisions.

Tomorrow brings the Fed and then mid-term elections next week and CPI the week after, so we have a loaded few weeks ahead as USD strength remains in-play.

Sr. Technical Strategist Michael Boutros highlights the levels that matter on the USD Majors, commodities, and equity indices charts this week.

Chancellor John Healey will deliver his first UK budget, also the first under Prime Minister Andy Burnham, on Wednesday, October 28, usually around 12:30 GMT.

The Dollar is working on its second consecutive red week and while sellers didn’t exactly pounce on fresh lows, there’s an opening door for bears to make a move.

GBP/USD has surged to pivotal resistance at five-week highs, with the next reaction likely to determine whether the recovery has further to run.

It’s been a fast week for GBP/USD, with the pair pulling back to a major support level last Wednesday followed by a strong reversal that’s set fresh monthly highs.

GBP/USD unchanged despite UK inflation jumping to an 11-month high. DAX steady after Space-X earnings revive AI trade but oil limits gains.

GBP/USD unchanged despite UK inflation jumping to an 11-month high. DAX steady after Space-X earnings revive AI trade but oil limits gains.
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