All Articles Tagged - GBPUSD

Besides yen pairs, neutral volatility across the board ahead of Fed and NFP – Volatility Watch

Posted on April 30, 2024 at 9:55 am GMT

Japan’s intervention spurs volatility in yen pairs, usual action elsewhere in FX market Commodities enjoy lower volatility as geopolitical tensions subside Equities at neutral volatility levels during earnings season, Bitcoin volatility picks up Volatility in yen crosses has exploded on the back of a suspected Japanese intervention. Moreover, apart from dollar/yen, other dollar pairs are trading in the middle of their volatility range ahead of the Fed decision on Wednesday and NFP report on Friday. Volatility in the commodity space has also dropped, particularly [..]

Technical Analysis – GBPUSD battles with 200-day SMA

Posted on April 30, 2024 at 8:00 am GMT

GBPUSD rebounds strongly from a 5-month bottom But meets strong resistance at 200-day SMA Momentum indicators improve but remain neutral-to-negative GBPUSD experienced a vast decline after posting a fresh 2024 high of 1.2892, generating a clear structure of lower highs and lower lows. Although the pair has been attempting a recovery in the past few sessions following its bounce off a fresh five-month bottom, the 200-day simple moving average (SMA) appears to be curbing its upside. Should bullish pressures persist, the pair [..]

Technical Analysis – GBPUSD recovers from 5-month low

Posted on April 29, 2024 at 12:41 pm GMT

GBPUSD looks ready to rest near the downtrend line MACD heads north below zero level Stochastics stand in overbought area GBPUSD is retesting the 1.2540 resistance level as well as the 200-day simple moving average (SMA) and the short-term descending trend line. The rebound off the five-month low of 1.2300 and the upside retracement in the technical oscillators are indicating a potential bullish correction in the market. The MACD oscillator jumped above its trigger line in the negative territory, while [..]

Midweek Technical Look – GBPUSD, EURJPY, Gold

Posted on April 25, 2024 at 11:40 am GMT

GBPUSD targets a positive close for the week, yet faces crucial resistance levels ahead EURJPY surges to a 16-year high; bears might be around the corner Gold enters tight range; bulls need a clear bounce above $2,325 [..]

Technical Analysis – GBPUSD bounces off 1.2300 but remains at risk

Posted on April 24, 2024 at 7:55 am GMT

GBPUSD posts new 5-month low Price holds in bearish tendency MACD and stochastics suggest upside move GBPUSD is recovering from the five-month low of 1.2300 that was posted on Monday and is heading towards the restrictive region of 1.2495-1.2520. The pair has started a bearish tendency since the price peaked at 1.2892 in the short-term timeframe. According to technical oscillators, the MACD is trying to cross its trigger line to the upside beneath the zero level. Also, the stochastic oscillator [..]

Slightly lower volatility across the board ahead of key US data – Volatility Watch

Posted on April 23, 2024 at 9:54 am GMT

Lower volatility is on the cards for the FX market Gold to enjoy lower volatility; oil probably too quiet considering geopolitics Equities volatility remains elevated, especially in JP225 index Volatility in EUR/USD has eased up a bit but remains high amidst continued rhetoric for an ECB rate cut in June. Geopolitical events have also played a crucial role in maintaining volatility high in the remaining currencies, including the yen and pound crosses, with the former facing a real risk of market intervention and the latter being affected by a [..]

What do the smaller US surveys say about the US economy? – Special Report

Posted on April 23, 2024 at 8:18 am GMT

Fed is still on the sidelines as the US economy remains strong Smaller US business surveys point to a weaker manufacturing sector But the services sector could continue to surprise on the upside US dollar is benefitting for the curtailed Fed rate cut expectations Stickier inflation, a relatively healthy labour market and a barrage of stronger US economic data have forced the market to reconsider its aggressive Fed expectations and to price in only two rate cuts for 2024. Despite [..]

Technical Analysis – GBPUSD tumbles to 5-month low

Posted on April 22, 2024 at 11:56 am GMT

GBPUSD posts aggressive bearish move MACD and stochastic indicate more declines GBPUSD breached the tough 1.2370-1.2405 zone with strong momentum to fall straight down to a new five-month low of 1.2308 earlier in the day. Technically, the pair is sailing near oversold waters according to the stochastic oscillator as it posted a bearish crossover within the %K and %D lines as well. The MACD is also flagging a potential downfall as it’s losing impetus beneath its trigger and zero lines. [..]

Market Comment – Safe havens jump as Israel retaliates against Iran

Posted on April 19, 2024 at 8:52 am GMT

Gold, franc, yen and oil spike higher after Israel strikes Iran But gains are pared after retaliatory response seen to be limited Stocks head deeper into the red after disappointing tech earnings Markets on alert as ME tensions re-escalate After days of speculation about a possible retaliatory action, Israel launched strikes on Iranian targets overnight, in direct response to Iran’s missile and drone attack last Saturday. Safe havens rallied as the reports started coming in, with gold briefly climbing above [..]

Week Ahead – US GDP and BoJ decision on top of next week’s agenda

Posted on April 19, 2024 at 7:10 am GMT

US GDP, core PCE and PMIs the next tests for the dollar Investors await BoJ for guidance about next rate hike EU and UK PMIs, as well as Australian CPIs also on tap Earnings season heats up as tech giants report Will US data throw more Fed rate cuts off the table? The dollar staged a strong recovery the last couple of weeks, with the bulls being encouraged to initiate long positions as soon as the US CPI data revealed [..]

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