GBPUSD

Technical Analysis – GBPUSD’s bullish tone withstands powerless pullback

Posted on January 22, 2021 at 11:07 am GMT

GBPUSD’s recent retreat is nearing the 50-period simple moving average (SMA) at 1.3647 and so far appears to be incapable of hurting the bullish tone in the pair. The upwards creeping red Tenkan-sen line and the steadily climbing SMAs are promoting further advances in price. However, the flattening blue Kijun-sen line and the short-term oscillators are endorsing the retraction in the pair. The MACD, some distance above zero, has plunged under its red trigger line, while the decreasing RSI has [..]

Daily Market Comment – Stocks retreat, dollar edges up as virus concerns creep in again

Posted on January 22, 2021 at 10:11 am GMT

Equity rally loses steam after strong weekly gains amid renewed virus jitters Talk of Biden tax increases also undermines risk appetite, lifting the dollar Poor data pull down pound and aussie but euro fares better after ECB stays put Virus outbreaks, recession fears cap risk rally The stimulus-led stock market rally faltered on Friday as investors paused for breath after sharp gains in a week when US President Joe Biden formally took office, reaffirming expectations of higher spending and borrowing [..]

Daily Market Comment – Wall Street at fresh record as Biden sworn in; euro up ahead of ECB

Posted on January 21, 2021 at 10:10 am GMT

Hopes of more stimulus and relief over Biden’s peaceful transition lift sentiment US stocks close at new record highs as strong earnings add extra fuel Dollar skids again, euro bounces off lows ahead of ECB decision Optimism high as Biden enters White House After four tumultuous years, Trump’s presidency came to a historic end on Wednesday, as Joe Biden marked his first day at the White House by spreading a message of hope and unity to a fractious nation. While [..]

UK PMIs to highlight lockdown pain but Johnson’s vaccination drive buoys pound – Forex News Preview

Posted on January 20, 2021 at 3:10 pm GMT

Having only just come out of lockdown number two, much of the United Kingdom finds itself shut down again as the recently discovered new variant of Covid-19 is spreading even faster than previously known strains. This new highly contagious version of the virus left the government no choice but to impose the toughest measures since the first lockdown at the beginning of January. Hence, it will come as no surprise that the flash PMIs for the month – due on [..]

Daily Market Comment – Stocks climb, dollar slips as Yellen makes case for more stimulus

Posted on January 20, 2021 at 9:53 am GMT

Stocks power higher after Yellen calls for more big spending to fight pandemic Risk assets rally ahead of Biden inauguration as reflation trade boosted Dollar under renewed selling pressure, gold capitalizes Yellen talks up big spending Risk appetite was riding high on Wednesday after Treasury Secretary nominee Janet Yellen reignited hopes of more massive stimulus packages in the United States in her confirmation hearing yesterday. Yellen went out of her way to make the case for higher spending to counter [..]

Daily Market Comment – Wall Street eyes Yellen testimony, dollar eases

Posted on January 19, 2021 at 9:31 am GMT

Stocks perk up after slow start to the week as focus turns to Yellen and earnings Hopes that Biden administration will spend “big” bolsters sentiment Euro steadies as Italian worries abate, dollar retreats Yellen to tell US lawmakers to “act big” After a sluggish start to the week, risk sentiment improved late on Monday as investors turned their attention on incoming Treasury Secretary Janet Yellen’s confirmation hearing before the Senate today (1500 GMT), while bracing themselves for a slew of [..]

Technical Analysis – GBPUSD bulls retain footing despite pullback

Posted on January 19, 2021 at 8:20 am GMT

GBPUSD managed to calm bearish forces around the 20-day simple moving average (SMA) once again following the latest rejection from the 1.3700 level, hinting that bullish appetite has not fully faded yet. In the near-term, the consolidation phase may continue as the RSI and the MACD keep lacking direction, with the former sidelining above its 50 neutral mark and the latter hovering around its red signal line. The red Tenkan-sen also remains trendless above the blue Kijun-sen line, suggesting an [..]

Daily Market Comment – Strong China GDP can’t shake off virus blues, dollar firms

Posted on January 18, 2021 at 9:55 am GMT

Markets wrestle vaccine and stimulus optimism with worsening near-term gloom Upbeat Chinese GDP highlights global growth disparity as US retail sales sag Euro stuck in the doldrums, eyes Italian confidence votes China notches up positive full-year growth in 2020 As most major economies struggle under the weight of the pandemic, China is demonstrating to the world that a full recovery from the virus slump is possible. China’s gross domestic product (GDP) rose by an annual rate of 6.5% in the [..]

Week Ahead – ECB, BoJ and BoC meet but all eyes on US Capitol

Posted on January 15, 2021 at 12:17 pm GMT

The first of the new year’s central bank meetings will get under way next week and it will be a heavy schedule on the data front as well. The European Central Bank, Bank of Japan and Bank of Canada will almost certainly be debating the latest setback to the recovery from the worsening Covid-19 outbreak. China will report its fourth quarter GDP print and flash PMIs along with inflation and retail sales numbers will be doing the rounds in most [..]

Technical Analysis – GBPUSD retreats from a jump above 1.3700

Posted on January 15, 2021 at 7:32 am GMT

GBPUSD created a spike to the upside on Thursday, surpassing the 1.3700 round number and recording a fresh 33-month high before it returned lower. In trend indicators the 20- and 40-period simple moving averages (SMAs) posted a bullish crossover in the 4-hour chart, while the red Tenkan-sen line is holding above the blue Kijun-sen line in a flat mode. The RSI, in the positive region, is pointing slightly down and the MACD is dropping below the trigger line in the bullish area. [..]

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