GBPUSD

Daily Market Comment – Trading starts to wind down, stocks at record highs, dollar dips

Posted on December 29, 2020 at 9:51 am GMT

Markets go quiet in thin holiday trading after US stimulus and Brexit hurdles cleared Pressure on the US Senate after House votes to increase stimulus checks Wall Street sets another record, Nikkei soars, London stocks play catch up Dollar on the backfoot again after rebound falters, pound pares losses Markets in holiday calm but stimulus drama may not be over Trading dwindled ahead of the New Year holiday amid thin liquidity as there was little reason for investors to stay [..]

Daily Market Comment – Stocks cheer Trump’s stimulus U-turn; pound muted after ‘thin’ Brexit deal

Posted on December 28, 2020 at 9:40 am GMT

President Trump makes surprise U-turn on virus aid bill, averts government shutdown ‘Thin’ Brexit deal leaves many unanswered questions, pound unimpressed Equities buoyed, dollar pressured, gold jumps Relief as US stimulus and spending bill becomes law Trading for the last week of 2020 got off to a bullish start after President Trump unexpectedly signed into law the Covid-19 relief and funding bill late on Sunday after repeatedly refusing to do so. The $2.3 trillion package, which includes a fresh round [..]

Technical Analysis – GBPUSD resilient within bullish channel after Brexit trade deal

Posted on December 28, 2020 at 8:36 am GMT

GBPUSD held within the 1.3500 territory on Monday and slightly below its 2 ½-year high of 1.3623 following the endorsement of a skinny Brexit trade deal and the approval of the US stimulus package. From a technical perspective, the short-term bias remains tilted to the upside despite the rejection around the topline of the upward-sloping channel as the price continues to trade above its simple moving averages (SMAs) and the Ichimoku cloud. The momentum indicators are also in favor of [..]

Technical Analysis – GBPUSD favours upside; vicious appreciation boosts bias

Posted on December 24, 2020 at 11:35 am GMT

GBPUSD recently logged nine consecutive green candles and is quickly approaching the 31½-month high of 1.3624. The price found some footing just beneath the 200-period simple moving average (SMA) and then skyrocketed from there, restoring the bullish tone within the pair. The rising Ichimoku lines and the 50-period SMA are endorsing further gains, while the gradual upwards incline in the 100- and 200-period SMAs is preserving positive sentiment. Likewise, the short-term oscillators are skewed to the upside. The MACD, in [..]

Daily Market Comment – Brexit deal announcement imminent, pound up

Posted on December 24, 2020 at 9:57 am GMT

UK and EU on the verge of a historic post-Brexit trade agreement, pound advances Trump imperils stimulus deal, risks government shutdown But markets calm in thin holiday trade; dollar drifts lower, stocks edge up Brexit deal is ‘done’ Britain and the European Union appear to be on the cusp of agreeing to a historic post-Brexit trade pact, with officials reportedly working through the night to put the finishing touches to the 2,000-page text. Negotiators continue to thrash out the final [..]

Daily Market Comment – Virus scare eases but Trump’s stimulus threat tempers mood

Posted on December 23, 2020 at 9:39 am GMT

Equities on firmer footing as panic over new virus strain subsides further But another danger looms as President Trump unhappy with $900 billion stimulus bill Pound’s yo-yo ride continues as hopes rise for pre-Christmas Brexit deal Can Trump scupper Congress’ stimulus aid? Equities were on edge on Wednesday even as investors struck a cautiously optimistic tone ahead of the festive break. President Trump threatened late on Tuesday to block the $900 billion virus relief bill passed by both chambers of [..]

Technical Analysis – GBPUSD preserves the climb despite violent retreat

Posted on December 22, 2020 at 9:30 am GMT

GBPUSD recently logged a 31½-month high of 1.3623 before gapping yesterday below a section of peaks that previously were providing some upside resistance. The aggressive pullback bounced for a second time off the 50-period simple moving average (SMA) and once again returned the pair back above the Ichimoku lines. The price is currently resting above the flattening Ichimoku lines, while the climbing SMAs are defending the advancing picture. The short-term oscillators are reflecting the recent dwindling in the pair. The [..]

Week Ahead – Stimulus is coming to town

Posted on December 18, 2020 at 2:06 pm GMT

It is a very quiet week in terms of events, as trading winds down for the holiday season. This implies that liquidity may be in short supply, setting the stage for some explosive moves if there is any breakthrough in the Brexit crusade or the US stimulus saga. Overall, markets are set to end a crazy year on an incredibly optimistic note, with a little help from central banks showering investors with cheap money. The ‘party’ could continue into next [..]

Technical Analysis – GBPUSD maintains bullish tone despite pullback

Posted on December 18, 2020 at 11:01 am GMT

GBPUSD is currently finding some footing on the mid-Bollinger band around 1.3491, after reversing from a resistance band of 1.3607-1.3629, where it formed a 31½-month high of 1.3623. The rising simple moving averages (SMAs) are continuing to back price’s intact bullish demeanour. The short-term oscillators are reflecting a stall in negative momentum. The MACD’s drop below its red trigger line deep in the positive region, is decelerating, while the RSI has bounced off its neutral threshold and is now pointing [..]

Daily Market Comment – Dollar edges up amid the wait for elusive stimulus and Brexit deals

Posted on December 18, 2020 at 10:01 am GMT

Dollar selling eases as caution creeps in, but still set for big weekly losses The long wait for deals in Washington and Brussels takes edge off risk rally Stocks mixed, some volatility may lie ahead Dollar bears pause for breath as Congress in race against time The US dollar was attempting to end its week-long losing streak on Friday as doubts about how soon a stimulus deal in Congress and a Brexit trade pact between the UK and EU can [..]

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