GBPUSD

Technical Analysis – GBPUSD indicates sense of caution in near-term

Posted on October 18, 2019 at 1:16 pm GMT

GBPUSD registered a fresh five month high of 1.2987 before pulling back, cementing the new uptrend off the 1.1957 bottom. The 20-period simple moving average, which is sloping comfortably upwards and above the longer-term SMAs, increases the odds for a continuation of the bullish wave as well. The RSI, however, has been flattening above its overbought mark for a while on the four-hour chart and the MACD has started to show a soft downside direction below its red signal line, suggesting that traders [..]

Week Ahead – Draghi’s last ECB meeting and Brexit vote to headline muted data week; flash PMIs eyed too

Posted on October 18, 2019 at 11:59 am GMT

It will be relatively quiet on the data front in the coming week with just a handful of top-tier releases, but Mario Draghi’s last ever policy meeting at the helm of the European Central Bank should make for an interesting week. The ECB meeting will not be the only policy gathering in Europe as the Swedish and Norwegian central banks will also be setting monetary policy. Brexit, meanwhile, will remain centre stage as a rejected deal could greet traders on [..]

Daily Market Comment – Sterling all over the place amid Brexit rollercoaster

Posted on October 17, 2019 at 8:15 am GMT

Conflicting Brexit headlines pull the pound in all directions Dollar retreats after disappointing US retail sales, euro capitalizes Aussie jumps after decent jobs data curb bets for RBA rate cuts Pound goes for another rollercoaster ride The British pound remains in the eye of the storm, with a barrage of conflicting Brexit headlines yesterday pulling the currency in all directions. A deal wasn’t reached, though progress has seemingly been made, and the negotiations will continue today. That said, both sides [..]

Daily Market Comment – Pound breaks higher as Brexit euphoria grows

Posted on October 16, 2019 at 11:28 am GMT

Pound resumes rally as optimism for a deal grows, but risk of pullback elevated US-China tensions flare up again as Congress pushes Hong Kong bill US retail sales data today may be crucial for whether Fed cuts in two weeks Sterling surges on reports Brexit deal is close, but hold your horses The British currency resumed its upward trajectory yesterday, touching a new five-month high against the dollar, after several reports suggested that a Brexit deal is drawing closer. Beyond [..]

UK data eyed, but Brexit is all that matters for sterling – Forex News Preview

Posted on October 15, 2019 at 12:52 pm GMT

The latest UK inflation and retail sales data are due on Wednesday and Thursday respectively, but as usual, Brexit news will dominate price action in the pound. Focus remains on whether a deal can be struck in the coming days, which is very doubtful. As for the pound, the relief rally may not be over just yet, as most potential near-term outcomes seem favorable. Either a deal gets done now, or the UK gets an extension that is followed by [..]

Daily Market Comment – Sterling jumps on Brexit hopes; Trump sanctions Turkey

Posted on October 15, 2019 at 8:33 am GMT

Pound shoots up on hopes for a Brexit deal this week Brexit optimism lifts stock markets too, but trade concerns linger Trump hits Turkey with tariffs and sanctions, yet lira climbs Barnier says Brexit deal still possible this week, pound charges higher The Brexit saga remains the dominant theme in the FX market. Investors are holding their breath to see whether a deal will be reached, after the negotiations intensified in recent days. This morning, chief EU negotiator Barnier said [..]

Technical Analysis – GBPUSD violates March downtrend; cautiously bullish in short-term

Posted on October 15, 2019 at 7:42 am GMT

GBPUSD traders turned indecisive following last week’s impressive rally that drove the price slightly above the 1.2700 level and just below the 200-day simple moving average (SMA). The short-term momentum indicators suggest a cautiously bullish bias as the RSI and the Stochastics maintain an upward direction not far below the overbought territory. Regarding the market trend, however, technical signals are more optimistic since the pair has created a higher high around 1.2580 and a higher low at 1.2200, violating the downtrend [..]

Daily Market Comment – Symbolic trade deal lifts sentiment; sterling cools

Posted on October 14, 2019 at 8:24 am GMT

US and China reach ‘mini’ trade deal, but markets remain skeptical Pound pulls back as DUP signals it might not support Boris’s deal Loonie soars after Canadian jobs data beat estimates Trade truce lifts stocks, sends yen lower Global risk appetite got a boost on Friday, with stocks edging higher while safe havens like the Japanese yen surrendered ground, after the world’s two largest economies reached a truce in their fiery trade battle. This ‘limited’ trade agreement will see China [..]

What’s next in the shifting Brexit saga? – Special Report

Posted on October 11, 2019 at 1:08 pm GMT

Markets have become more optimistic on Brexit, after the UK and Irish leaders said they see a ‘pathway’ to a deal. Yet, if Boris truly watered down his stance enough to make a deal possible, he will likely lose the support of his hardline Brexiteers, so any accord may be rejected by Parliament. Hence, another Brexit extension that is followed by an election still seem inevitable. Since that could make both a future deal and a second referendum more likely, [..]

Week Ahead – Big week for Chinese data; make or break time (again) for Brexit

Posted on October 11, 2019 at 12:49 pm GMT

Monthly reports on inflation, retail sales and employment will get into full swing next week, but China is likely to steal the limelight as it will have the busiest calendar. All eyes will be on the third quarter GDP estimate as China battles to prevent a hard landing of its economy amid a deepening trade dispute with the United States. But the ongoing trade war isn’t the only thing that will be causing fatigue for investors as the Brexit drama [..]

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