GBPUSD

Daily Market Comment – Investors on alert as California shuts down, gold glitters

Posted on December 8, 2020 at 10:28 am GMT

Markets revert to old pandemic playbook amid new US restrictions Nasdaq hits new highs, but other stock indices drop alongside oil Gold stages heroic comeback, bigger picture still encouraging Sterling on the back foot as PM Johnson heads to Brussels Big tech shines as pandemic concerns resurface A sense of caution has crept back into global markets, as investors try to balance the prospect of more government stimulus and central bank liquidity against the grim pandemic reality, with California announcing [..]

Technical Analysis – GBPUSD takes a hit and fades from fresh 30½-month high

Posted on December 8, 2020 at 9:11 am GMT

GBPUSD hit a snag and is retreating from its freshly logged multi-month high of 1.3538, and is even back under the previous highs of 1.3514 and 1.3481. The falling red Tenkan-sen line is showing weakness in the positive drive, while the rising blue Kijun-sen line is backing an improving picture. Furthermore, the slight incline in the 200-day simple moving average (SMA), and the rising 50- and 100-day SMAs are protecting the positive structure. Nonetheless, the short-term oscillators are leaning towards [..]

Daily Market Comment – Wall Street hits new records as ‘bad news’ is good news

Posted on December 7, 2020 at 10:29 am GMT

Disappointing US jobs report fuels hopes for Congressional stimulus deal Stocks hit new highs, dollar stabilizes, big week ahead for markets Sterling suffers amid reports of insufficient Brexit progress Why has the dollar been ravaged lately? Short answer is inflation Bad news is good news in stimulus game Wall Street sailed to a new record high on Friday despite a disappointing US employment report, as investors bet that the soft numbers would put pressure on politicians in Congress to deliver [..]

Week Ahead – Can the ECB clip the euro’s wings?

Posted on December 4, 2020 at 12:54 pm GMT

It will be another action-packed week in global markets, with two central bank meetings, a potential US stimulus agreement, and a flurry of economic data. The European Central Bank is certain to shower investors with more liquidity. Yet, this move has already been telegraphed and priced in, so if policymakers want to sink the supercharged euro, they need to over-deliver. The political arena will continue to excite as well, with the Brexit talks now in their final stage. All markets [..]

Technical Analysis – GBPUSD eases below 1-year high around 1.3500

Posted on December 4, 2020 at 10:15 am GMT

GBPUSD is losing ground after it reached a fresh one-year high marginally below 1.3500 on Thursday. The momentum indicators suggest there is still some downside move before the pair advances again. The RSI is heading south in the positive area, while the MACD is losing momentum in the bullish territory. Should the price make another run higher, it’s likely to meet resistance at 1.3499. A successful break above this key resistance could open the way for the May 2018 high at 1.3600 before [..]

Daily Market Comment – US stimulus deal moves closer, Brexit talks ‘go backwards’

Posted on December 4, 2020 at 9:49 am GMT

Stocks at records or near highs as US Republicans change tune on new stimulus Brexit talks go down to the wire, but will France cause a last-minute upset? Dollar slide pauses ahead of NFP report Oil jumps to 9-month high despite OPEC+ raising production early Fresh hopes for US stimulus deal before Christmas Support for a bipartisan stimulus proposal of up to $908 billion gained unexpected traction yesterday as more and more Republicans threw their weight behind the plan. The [..]

Daily Market Comment – Dollar sinks again on rising optimism but stock rally cools

Posted on December 3, 2020 at 10:03 am GMT

Dollar slide deepens as stimulus and vaccine hopes drive positive theme But vaccine-led rally may have run its course in equity markets as stocks mixed today Tense Brexit talks keep pound on edge, euro roars past $1.21 Oil slips ahead of OPEC+ decision; gold extends rebound The US dollar slipped further on Thursday, slumping to fresh 31-month lows against a basket of currencies, as investors dumped the world’s reserve currency in the face of increased optimism about the global economic [..]

Daily Market Comment – Stimulus, vaccine euphoria push stocks to new highs, dollar sags

Posted on December 2, 2020 at 9:52 am GMT

US stimulus hopes revived after fresh efforts to kickstart talks Vaccine rollouts edge closer after UK approval Stocks scale new heights, but signs of exhausted rally Dollar slump deepens even as Treasury yields jump Brexit jitters take steam out of pound rally Optimism soars as stimulus talks back on Markets had plenty to cheer about on Wednesday as reports of renewed efforts by US lawmakers to kickstart the stalled stimulus talks were followed by news that Pfizer-BioNTech’s vaccine has won [..]

Daily Market Comment – Stocks resume gains, dollar whipsaws as optimism returns

Posted on December 1, 2020 at 10:01 am GMT

Asian recovery gathers speed, pulling global stocks higher Dollar bounces higher, then falls as temporary growth jitters subside Powell offers no policy clues in prepared remarks as US data underwhelms Pound spikes above $1.34 as Brexit deal speculation heats up Recovery back on track, at least in Asia Strong manufacturing PMIs out of Asian powerhouses lifted the market mood on Tuesday, reversing some of the gloom that set in yesterday from soft US indicators. A quickening in the manufacturing revival [..]

Technical Analysis – GBPUSD re-challenges a familiar topside line

Posted on December 1, 2020 at 8:31 am GMT

GBPUSD has been struggling to claim the 1.3400 level and the familiar upper ascending line over the past week, which once again managed to resist bullish forces. Encouragingly, the red Tenkan-sen line and the 78.6% Fibonacci of the short 1.3481 – 1.2674 downleg came immediately to the rescue around 1.3315, providing another opportunity to the bulls. The recent rebound in the RSI and the soft bounce in the MACD, which is currently pushing efforts to return above its red signal line, keep the [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms