All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD surges to fresh 2-month high

Posted on June 4, 2024 at 7:33 am GMT

GBPUSD advances to its highest level since March 13 But the rally shows signs of being overstretched Momentum indicators approach overbought conditions GBPUSD has been in a steady recovery following its bounce off the 2024 bottom of 1.2298, with the price violating both the 50- and 200-day simple moving averages (SMAs). On Tuesday, the pair posted a fresh two-month peak, but quickly sustained some losses as the rally is starting to look overdone. If the price extends its upward trajectory, the [..]

Midweek Technical Look – GBPUSD, EURJPY, Oil

Posted on May 30, 2024 at 10:22 am GMT

GBPUSD corrects lower but holds within a bullish channel ahead of US core PCE inflation EURJPY slides below 170 as the focus turns to EZ flash CPI inflation WTI oil futures erase some gains as OPEC+ meeting awaited on Sunday [..]

Technical Analysis – GBPUSD posts 2-month high before paring some gains

Posted on May 29, 2024 at 2:47 pm GMT

GBPUSD advances to its highest level since March 21 But sustains some losses as advance seems overstretched Momentum indicators ease from overbought conditions GBPUSD had been in a recovery mode following its bounce off the 2024 bottom of 1.2298, with the price violating both the 50- and 200-day simple moving averages (SMAs). Although the price posted a fresh two-month peak of 1.2799 on Tuesday, it quickly fell victim to some profit taking. If the price manages to erase its latest losses, it [..]

Low volatility across the board besides Bitcoin – Volatility Watch

Posted on May 28, 2024 at 9:34 am GMT

Forex pairs in a relatively quiet mood Volatility in Bitcoin and silver skyrockets US equities enjoy low volatility despite rally to record highs Euro/dollar volatility has dropped aggressively over the past week as markets are bracing for inflation data both from the US and Eurozone this week. Similarly, volatility in yen crosses remains muted even though the Japanese currency is trading near historical lows against its major peers, while the latest downbeat inflation data out of Japan could ignite some volatility moving forward. In [..]

Technical Analysis – GBPUSD challenges new 2-month high

Posted on May 28, 2024 at 6:35 am GMT

GBPUSD creates upside rally from five-month low Stochastic and RSI hold in overbought areas GBPUSD has been in a steady uptrend over the last month, posting a fresh two-month high of 1.2782 and remaining well above the short-term simple moving averages (SMAs). Technically, the pair is sailing near overbought waters according to the stochastic oscillator. The RSI is also flagging a potential downfall as it’s losing impetus near 70. If buyers stay in play, the door will open for the [..]

Market Comment – Sentiment sours after strong US PMIs; stocks slip, dollar climbs

Posted on May 24, 2024 at 9:06 am GMT

Rate cut expectations take another hit after upbeat PMIs Dollar rises to 10-day high, Nvidia rally unable to lift Wall Street Higher for longer weighs on oil and gold Fed may not cut until after election It’s been a bad week for investors hoping to see a near-term rate cut by the Fed as expectations have been pushed out further towards the end of the year. The hawkish commentary by Fed officials on Tuesday was underscored by the FOMC minutes [..]

Market Comment – Dollar benefits from hawkish Fed minutes

Posted on May 23, 2024 at 8:41 am GMT

Dollar rallies as both gold and bitcoin fall Early UK elections called after mixed UK CPI report EZ PMIs unlikely to stop the ECB from cutting rates in June Dollar rallies on the back of the minutes The Fed minutes showed a much more hawkish discussion at the May 1 meeting than originally portrayed by Chairman Powell. In particular, the comment about the willingness of various participants to tighten policy further should risks to the inflation outlook materialize, contradicts Powell’s [..]

Technical Analysis – GBPUSD moves near its new 2-month high

Posted on May 22, 2024 at 11:45 am GMT

GBPUSD marks positive rally in near term Oscillators show mixed signs GBPUSD is looking to continue its bullish trend in the short-term view, as it posted a new two-month high of 1.2760 earlier in the day. To attract new buyers, the bulls will have to have a closing day above the 1.2710 barrier and move beyond to the 1.2820 resistance level. In this case, the price could pick up steam towards the important resistance level of 1.2892. However, the mixed [..]

Technical Analysis – GBPUSD renews positive momentum within channel

Posted on May 22, 2024 at 8:27 am GMT

GBPUSD strengthens to a two-month high within bullish channel Short-term bias looks positive, but buying appetite might lose pace FOMC minutes due for release today at 18:00 GMT UK S&P Global PMIs and BoE member Pill on the agenda on Wednesday Following a short period of consolidation around the 1.2700 level, GBPUSD quickly climbed to a two-month peak of 1.2760, boosted by stronger-than-anticipated core UK CPI figures. Technically, the pair pierced through the descending line drawn from May 2021, [..]

Market Comment – Dollar under pressure as Fed speakers multiply

Posted on May 22, 2024 at 8:18 am GMT

FOMC minutes in the spotlight today Mixed UK CPI probably keeps the door closed to a June move RBNZ surprises with its hawkishness; kiwi benefits Nvidia reports after the US market close Dollar remains on the back foot The quieter data calendar has turned the market’s attention to the plethora of Fed speakers eager to express their opinions ahead of the next blackout period. Analyzing almost 35 public appearances by Fed speakers since May 1 reveals an overwhelming support for [..]

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