All Articles Tagged - GBPUSD

Daily Market Comment – Stocks power higher as Democrats take Senate, despite chaos on Capitol Hill

Posted on January 7, 2021 at 9:51 am GMT

Equities hit new record highs as Democrats take full control of Congress But havoc on Capitol Hill keeps animal spirits in check Dollar kept alive by spike in real yields, gold not as fortunate Overall, Congress and Fed working together implies rosy outlook for riskier assets Markets rally as stimulus hopes overpower social unrest The Democratic party has officially taken full control of Congress after winning both Senate seats from Georgia, setting the stage for bigger spending packages to bolster [..]

Daily Market Comment – Fresh virus fears dampen New Year optimism, dollar catches a bid

Posted on January 5, 2021 at 9:52 am GMT

UK enters third lockdown, sparks panic as virus continues to rage around the world Pound tumbles, dollar reverses earlier declines, Wall Street slips from record highs Uncertainty about Georgia runoffs adds to soured mood No respite from the virus just yet As vaccine rollouts get off to a slow start, mass inoculation is becoming a race against time as there appears to be no letup in Covid-19’s ferocious spread. British Prime Minister Boris Johnson announced a new national lockdown for [..]

Technical Analysis – GBPUSD tops at 1.3700 in the first trading day of 2021

Posted on January 4, 2021 at 10:09 am GMT

GBPUSD stretched its rally to a fresh 32-month high of 1.3700 in the first trading day of 2021, but it continues to face limitations around the topline of the upward-sloping channel, which it failed to successfully overcome last week. Technically, the short-term bias remains on the positive side in the daily chart as the price keeps printing higher highs and higher lows above its simple moving averages (SMAs) and the Ichimoku Cloud. In momentum indicators, the MACD is regaining ground above its red [..]

Daily Market Comment – Familiar start to new year as dollar slips, stocks climb

Posted on January 4, 2021 at 9:51 am GMT

Trading in 2021 gets off to an optimistic start despite spiralling pandemic Dollar heads back towards 2½-year lows, bullish case for equities not over But plenty that can go wrong as Georgia runoffs, Electoral College count pose risks Cheery start to 2021 as markets pin hopes on vaccines The first trading day of the new year began pretty much how 2020 ended as investors chose to shrug off the worrying virus headlines to instead focus on the vaccine rollouts and [..]

Daily Market Comment – Dollar can’t get off the floor as focus turns to Georgia

Posted on December 30, 2020 at 9:40 am GMT

Dollar hits fresh lows, stocks near record highs despite US Senate blocking $2000 checks Thin liquidity, or markets calculating what this implies for Georgia runoffs? Elsewhere, most assets are in a cheerful mood, but quiet overall 2020 was all about the stimulus game With the Brexit crusade out of the way, the US stimulus deal wrapped up, and the global vaccine rollout well underway, financial markets are about to end an incredibly chaotic year on a surprisingly optimistic note. The [..]

No post-deal rally for the pound as Brexit negotiations far from over – Special Report

Posted on December 29, 2020 at 1:58 pm GMT

Britain and the European Union have just agreed on a post-Brexit relationship – including, of course, on trade – ending more than four years of uncertainty and political drama. However, with negotiators having less than 12 months to strike a deal, it was never going to be possible to achieve anything more than a bare minimum accord. Thus, those hoping that the world can now finally move on from the Brexit soap opera may be disappointed to learn that there [..]

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

Posted on December 29, 2020 at 9:50 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 [..]

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