All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD tries to recoup some losses

Posted on April 18, 2024 at 12:41 pm GMT

GBPUSD rebounds off 1.2405 Price remains beneath trading range Bearish in the short-term view GBPUSD is rising after the pullback near the 1.2400 level but remains in a short-term bearish tendency. The technical oscillators are showing some mixed signs. The MACD is extending its negative momentum beneath its trigger and zero lines; however, the stochastic posted a bullish crossover within its %K and %D lines in the oversold territory, indicating a potential upside recovery. If the price continues the upside [..]

Market continues to price in a plethora of rate cuts for 2024 – Special Report

Posted on April 17, 2024 at 1:03 pm GMT

Market is still in monetary easing mode despite fewer rate cuts priced in across the board Divergent cut expectations for the Fed and the ECB, reflecting economic conditions The ECB and the BoC are seen cutting in July; the RBA might not cut rates this year BoJ is seen hiking again during 2024 The market is digesting both the latest geopolitical developments and the recent rally in oil prices as the countdown to the May 1 Fed meeting has begun. [..]

Market Comment – Geopolitics and Fedspeak keep stocks under pressure

Posted on April 17, 2024 at 8:22 am GMT

Stocks remain under pressure as Fedspeak and US data dent rate cuts chances Dollar remains dominant against both the euro and the yen UK inflation surprises on the upside; the pound tries to rally A plethora of Fed, ECB and BoE speakers to keep the market on its toes today Stocks remain under pressure across the globe The market’s attention remains firmly on Middle East developments. With Israel opting for a low-key verbal reaction over the past 24 hours, the [..]

Technical Analysis – GBPUSD pulls back into the negative zone

Posted on April 16, 2024 at 8:16 am GMT

GBPUSD inches down to a new five-month low An extension below 1.2400 could generate fresh selling interest GBPUSD tried to breach the psychological barrier at 1.2500 and re-establish itself within the 1.2488-1.2892 range. But its efforts proved unsuccessful, with the pair charting a new lower low of 1.2405 during Tuesday’s early trading hours – the lowest level since November 2023. The bears might take a breather soon as the stochastic oscillator has reached its previous support area below [..]

Geopolitical developments and stronger US data push volatility to new highs across the board – Volatility Watch

Posted on April 16, 2024 at 8:02 am GMT

Volatility remains extremely high across the FX spectrum Commodities volatility reaches new highs; Bitcoin poised for smaller moves Equities volatility is off the charts led by the S&P 500 and DAX 40 indices Volatility in EUR/USD remains very high as the pair recorded a decent weekly drop following the stronger US CPI data. Geopolitical events have also played a crucial role in pushing volatility higher in the remaining currencies, including the yen crosses, with the market now looking for bigger [..]

Weekly Technical Outlook – GBPUSD, USDJPY, AUDUSD

Posted on April 15, 2024 at 8:26 am GMT

Will UK CPI data drive cable even lower? USDJPY still skyrockets ahead of Japanese CPI China GDP may help AUDUSD exit from trading range UK CPI data –> GBPUSD Inflation in the United Kingdom dropped to 3.4% in February, and experts predict that it will fall to 3.1% in March. It is anticipated that the core figure will likewise fall once more. On Friday, eyes will be on the March retail sales figures to see if spending is increasing. Currently, cable is trading higher after the strong sell-off on Friday, penetrating the long-term sideways channel to the downside. Incoming data might potentially lead to a decline in price if it indicates that the Bank of England is still planning to begin cutting rates in August, even while the Fed’s timeframe [..]

Technical Analysis – GBPUSD ticks down to new 5-month low

Posted on April 12, 2024 at 11:20 am GMT

GBPUSD slips below trading range MACD and RSI indicate more losses Is it time for a bearish retracement? GBPUSD is falling from the long-term consolidation range of 1.2520-1.2820, meeting the 1.2495 support level. The pair is posting a new five-month low, suggesting that more decreases may be on the cards. According to technical oscillators, the MACD is extending its negative momentum beneath its trigger and zero lines, while the RSI is pointing down, approaching the 30 threshold. If the market [..]

Week Ahead – More inflation data on the way as rate cut bets thrown into disarray

Posted on April 12, 2024 at 10:53 am GMT

CPI numbers due in the UK, Japan, Canada and New Zealand China to also come into the spotlight as Q1 GDP eyed US retail sales to kickstart the week as earnings season gets underway CPI figures to headline UK data flurry After yet another hot CPI report in the United States, inflation data will remain at the forefront of the upcoming week’s releases, including in the United Kingdom. But first up on the UK agenda will be the February employment [..]

Technical Analysis – GBPUSD outlook worsens after rapid fall

Posted on April 12, 2024 at 8:20 am GMT

GBPUSD prints new low for this year Bearish continuation is likely below 1.2480-1.2500 GBPUSD suffered a freefall in the face of hotter-than-expected US CPI inflation data on Tuesday and dropped to a new low of 1.2504 on Friday, retracing back to December’s lows and to the bottom of a broader range area. Despite the consolidation phase, the rejection from the 38.2% Fibonacci retracement of the October 26-March 8 uptrend suggests another bearish wave is likely. This is evident by the negative [..]

Technical Analysis – GBPUSD capped by 50-day SMA

Posted on April 9, 2024 at 6:54 am GMT

GBPUSD trades sideways between parallel SMAs Remains within its medium-term neutral pattern Momentum indicators improve but stay in negative zones GBPUSD experienced a strong decline following its break above the rangebound structure in place since November. Despite the temporary violation of the 200-day simple moving average (SMA), the pair reversed back higher before the 50-day SMA curbed its upside. Should bullish pressures persist, the pair could violate the 50-day SMA and challenge the recent resistance of 1.2682. Higher, the December resistance of [..]

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