GBPUSD

Technical Analysis – GBPUSD stalls, struggling to revive the ascent from the 35-year low

Posted on April 10, 2020 at 9:08 am GMT

GBPUSD seems to be unable to break out of the two-week consolidation phase of 1.2165 to 1.2485. The recent price action up from the 1.2165 level appears to have lost its positive backing as indicated by the short-term oscillators, which paint a picture of diminished positive momentum. Despite the gradual rise of the RSI in the bullish region, the MACD, hovers slightly above its red trigger line and the zero mark. Moreover, the stochastic %K and %D lines have faded [..]

Technical Analysis – GBPUSD stalls, trying to revive the ascent from the 35-year low

Posted on April 10, 2020 at 8:11 am GMT

GBPUSD seems to be unable to break out of the two-week consolidation phase of 1.2165 to 1.2485. The recent price action up from the 1.2165 level appears to have lost its positive backing as indicated by the short-term oscillators, which paint a picture of diminished positive momentum. Despite the gradual rise of the RSI in the bullish region – supporting the latest move towards the 1.2485 boundary – the MACD, in the positive area, hovers slightly above its red trigger [..]

Daily Market Comment – Oil firms as OPEC hypes deal, stocks cheer

Posted on April 9, 2020 at 9:23 am GMT

Hopes for a production-cut deal by OPEC today catapult oil higher Deal will likely get done, yet any positive reaction in oil may be short lived Stocks climb with crude, but watch out for US jobless claims today Euro will stay tuned to the Eurogroup meeting – are Eurobonds on the menu? Oil jumps on signs a deal is near, but caution warranted The energy market has come back into the spotlight ahead of the meeting between OPEC and Russia [..]

Pound wobbles but steadier as Johnson still in intensive care – Forex News Preview

Posted on April 8, 2020 at 3:03 pm GMT

The pound has bounced back from the lows it brushed soon after news broke that the UK prime minister, Boris Johnson, has been moved to intensive care a day after being hospitalized for continuing to show symptoms of the coronavirus. Johnson spent a second night in intensive care on Tuesday but the latest is that his fever has eased, meaning the pound’s immediate downside risk has also subsided. However, with the prospect of the prime minister being out of action [..]

Daily Market Comment – Euro rebound falters as EU rejects Eurobonds; stocks go nowhere

Posted on April 8, 2020 at 8:50 am GMT

Euro surrenders some gains as EU fails to agree coordinated fiscal plan Besides euro, US stock futures also retreat on Eurobond disappointment Has the bear market rally gone too far? Oil crumbles as doubts about production cuts set in – even if they cut, it won’t be enough Eurobonds get a cold reception, euro struggles The Eurozone’s institutional deficiencies came back on the market’s radar today, after a lengthy meeting of the bloc’s finance ministers ended without an agreement [..]

Technical Analysis – GBPUSD still holds above 38.2% Fibo; more gains are expected

Posted on April 7, 2020 at 7:02 am GMT

GBPUSD paused its bullish rally near the 50.0% Fibonacci retracement level of the down leg from 1.3515 to 1.1409 at 1.2460, which encompasses the 40-day simple moving average (SMA). The upside action helped the price to cover some of the previous month’s significant losses and turned the short-term bias to neutral. Regarding the technical indicators, the RSI is pointing to the upside with weak momentum and is touching the 50 level, while the MACD oscillator is edging higher, holding well [..]

Daily Market Comment – Signs of virus slowdown breathe life into markets

Posted on April 6, 2020 at 8:53 am GMT

Stocks roar higher, yen stumbles as new infections plateau in Europe Is this recovery sustainable though, or just another bear market rebound? Oil remains in focus as OPEC+ postpones meeting – will they cut enough? Risk appetite returns on hopes ‘peak virus’ is behind us Global markets woke up in a better mood on Monday, with stocks in Tokyo gaining roughly 4% and futures pointing to a similar open in New York, as a slowdown in new infections in [..]

Daily Market Comment – Oil seesaws on doubts about Saudi-Russia cuts; dollar firms ahead of NFP

Posted on April 3, 2020 at 8:27 am GMT

Oil surges then dips as markets question Trump’s claim of a Russia-Saudi Arabia deal Stocks turn lower as oil boost fades, services PMIs spread gloom Dollar set for weekly gains; unlikely to be held back by poor NFP Oil spikes as Trump ups pressure on Russia and Saudi Arabia Oil prices saw their biggest daily jump on record on Thursday after President Trump tweeted that Russia and Saudi Arabia – the world’s biggest oil producers after the United States – [..]

Technical Analysis – GBPUSD within a bullish rectangle but risks remain

Posted on April 3, 2020 at 7:52 am GMT

After the rebound off 35-year lows, GBPUSD has been trading quietly this week, congested within a narrow range of 1.2484 and 1.2300, where the former is the 50% Fibonacci of the 1.3513-1.1409 downleg. Technically, a sideways move following a rally is an indication that the pair is taking a breather before continuing higher. Yet, on the four-hour chart, the falling RSI which heads towards its 50 neutral mark backed by the declining MACD and the flattening red Tenkan-sen are currently not in favor of [..]

Daily Market Comment – Stock sell off eases, dollar pulls back as markets calm slightly

Posted on April 2, 2020 at 8:20 am GMT

Virus panic subsides slightly, lifting stocks, but markets remain jittery Dollar retreats from highs but braces for another jump in US jobless claims Oil soars on hopes of Saudi-Russia truce, China stockpiling Tepid recovery in stock markets After a sharp two-day sell-off on Wall Street, it was a relatively calmer start to the day on Thursday with Asian shares looking mixed and US and European stock futures turning green. Last week’s bear market rally came to an abrupt end as [..]

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