All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD creeps towards downtrend line; bearish bias unbroken

Posted on September 25, 2020 at 7:54 am GMT

GBPUSD has pushed off the mid-Bollinger band and above the 1.2780 barrier, making efforts to test the downtrend line drawn from the 8½-month high of 1.3481. That said, traders need to keep in mind the dictating negative bearing of the simple moving averages (SMAs), as they may assist the deteriorating picture. The short-term oscillators reflect the stall in the bearish structure and mirror prices’ endeavours towards the diagonal line. The MACD, in the negative region, is improving above its red [..]

Daily Market Comment – Stocks dive again as recovery in doubt; dollar stands tall

Posted on September 24, 2020 at 9:10 am GMT

Global equities follow Wall Street lower as fears of major winter wave mount Fed’s call for more fiscal stimulus falls on deaf ears Dollar trounces rivals, commodity currencies sink Stocks slump as optimism fades Rising pessimism about the prospect of a swift economic recovery from the pandemic dragged down equities on Thursday. The rout in global stock markets follows a sharp slide on Wall Street on Wednesday when the Nasdaq Composite plunged by 3% and the S&P 500 lost 2.4%. [..]

Daily Market Comment – Dollar climbs as virus gloom deepens

Posted on September 23, 2020 at 8:54 am GMT

Dollar extends gains as recovery prospects falter on virus resurgence Wall Street rebound fails to set markets alight Euro sags after poor PMIs; pound sinks on new virus curbs Rate cut expectations pummel aussie and kiwi Dollar shines as storm builds over global economy Markets were struggling to put up a positive front on Wednesday as the worsening virus outlook in Europe and the fading prospect of additional fiscal stimulus in the United States heightened recessionary fears. The stimulus-infused risk [..]

Daily Market Comment – Stocks lick wounds; pound tumbles on lockdown fears

Posted on September 22, 2020 at 9:20 am GMT

Selloff in equities eases but sentiment still subdued amid virus and political woes Dollar and yen hold firm as clouds gather over economic recovery Pound braces for new UK restrictions Aussie skids after RBA’s surprise dovish turn Just a wobble or start of a deeper correction? The market mood remained undeniably downbeat on Tuesday following yesterday’s acceleration in the selloff that’s gripped equities during the course of September. European shares took the heaviest beating as banking stocks were pummelled from [..]

Technical Analysis – GBPUSD increases the case of a downtrend in short-term

Posted on September 22, 2020 at 7:30 am GMT

GBPUSD erased last week’s upward correction and slipped slightly into the 1.2700 region, charting a lower high around the 50-day simple moving average (SMA) in the short-term picture. The recent bearish move follows the creation of a lower low at 1.2760 and hence increases the case of a downtrend. The 200-day SMA that has been flattening around the 1.2710 level for some time could be the next price to claim as the bearish bias is still intact. The MACD continues to expand to the [..]

Flash PMIs to underline UK recovery but pound slips on lockdown and Brexit fears – Forex News Preview

Posted on September 21, 2020 at 3:24 pm GMT

Investors will get a first look into the progress of the UK’s economic recovery in September when the flash PMIs are released on Wednesday at 08:30 GMT. The closely watched indicators are likely to show that Britain’s economy was on the mend in the early parts of September. But as coronavirus cases soar across the country, Prime Minister Boris Johnson is expected to announce tough new restrictions on Tuesday that could severely curtail the recovery just as businesses enjoy some [..]

Daily Market Comment – Yen on the up, stocks slump as risks mount; dollar looks to flurry of Fed speakers

Posted on September 21, 2020 at 9:13 am GMT

Worsening virus outlook casts shadow as US election risks, low prospect for fiscal stimulus add to worries Yen outperforms but dollar subdued before Fed begins charm offensive Stocks selloff accelerates after Wall Street falls for third straight week Fresh lockdown fears dampen mood An unrelenting rise in coronavirus cases globally is weighing on sentiment at the start of the trading week as investors increasingly question their rosy predictions about the recovery. Europe is at the centre of the latest resurgence, [..]

Week Ahead – Tracking the recovery: is Europe lagging the US?

Posted on September 18, 2020 at 12:53 pm GMT

The latest flash PMI releases will dominate the economic agenda next week as the recovery in the United States appears to be picking up a gear, while the European rebound may have hit a snag. The tables have been turning lately in the US vs Eurozone recovery story, threatening to unravel the euro rally. Trying to predict the economic comeback from the pandemic will also be preoccupying policymakers at the Reserve Bank of New Zealand at their September meeting amid [..]

Daily Market Comment – BoE clips pound’s wings, equities brace for turbulence

Posted on September 18, 2020 at 8:12 am GMT

Sterling capsizes after BoE opens door to negative rates Fed disappointment torments equities, but dollar doesn’t get the memo Market turmoil might continue today amid major option expiries Crude oil stages heroic comeback on supply hopes Bank of England does another policy U-turn The BoE injected another dose of volatility into British assets yesterday after it announced that it is studying the implementation of negative interest rates, just six weeks after it downplayed this policy as ineffective. It seems that [..]

Technical Analysis – GBPUSD dips after positive double top at 1.3525

Posted on September 18, 2020 at 6:58 am GMT

GBPUSD is in the process of recouping some of the previous couple of weeks’ losses, finding support at the 100-weekly simple moving average (SMA) and the 50-weekly SMA. Moreover, the pair posted a double top at the 1.3525 resistance level, penetrating the descending trend line to the upside on August 23. Technically, the RSI indicator is ticking north around the neutral threshold of 50 with weak momentum, while the MACD oscillator is slightly falling in the positive territory. If the price successfully moves above [..]

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