All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD holds near 6-week high; indicators are mixed

Posted on July 24, 2020 at 7:13 am GMT

GBPUSD continues to rise above the Ichimoku cloud and the short-term SMAs, remaining near the six-week high of 1.2770, achieved earlier today. According to the RSI, positive momentum could push for further gains in the short-term as the indicator picks up steam above its 50 level. However, the MACD is flattening near its trigger line and negative corrections cannot be excluded. In the positive scenario, where the price continues to expand above today’s high of 1.2770, a new top could be formed around 1.2815, taken from the high on [..]

Daily Market Comment – Euro takes no prisoners, dollar falls apart

Posted on July 23, 2020 at 8:23 am GMT

Dollar slide accelerates despite escalating US-China tussle, euro takes flight Markets generally in a cheerful mood, helped by signs Congress is moving closer to a compromise Gold trades like a rocket amid tanking dollar, geopolitical unrest, and stimulus hopes Euro unchained The currency market continues to be dominated by the resurgent euro, which has been liberated from its fiscal shackles after EU leaders took a step closer towards risk sharing this week. Since FX is a zero-sum game in the [..]

UK retail sales and PMIs to put recovery on track but Brexit lurks in the background – Forex News Preview

Posted on July 22, 2020 at 2:25 pm GMT

Economic data out of the United Kingdom this week is expected to show the recovery gathered pace after the lifting of more lockdown restrictions in June and July. June retail sales figures are due on Friday at 06:00 GMT and will be followed by the flash PMI prints for July at 08:30 GMT. Upbeat numbers could bolster the pound’s advances, having bounced to the $1.27 region in the last few sessions. But Brexit woes risk spoiling cable’s mini rally amid [..]

Daily Market Comment – US dollar clubbed as euro cruises higher, gold glitters

Posted on July 22, 2020 at 8:04 am GMT

Euro ascends after landmark EU deal, mostly to the detriment of the dollar Sinking dollar lifts all other boats – pound, commodity currencies, gold But some discouraging signals from the US Senate upset stocks Euro takes to the skies Global markets remained in a risk-on mood after the marathon-like negotiations between EU leaders finally bore fruit yesterday, resulting in a deal that will see substantial sums being funneled into the economies most devastated by the crisis. Even though the deal [..]

Daily Market Comment – Euro flatlines but stocks lifted by vaccine and stimulus progress

Posted on July 21, 2020 at 8:50 am GMT

EU strikes compromise deal on a virus recovery fund but euro pares gains Positive vaccine headlines drive Nasdaq to record close as key earnings loom Win-win situation for gold as it climbs to 9-year highs Focus turns to talks on US fiscal package and Brexit; dollar sags but pound upbeat Europe gets its fiscal bazooka; euro pauses for breath European Union leaders ended a marathon summit on Tuesday with a classic fudge as a compromise deal that significantly waters down [..]

Technical Analysis – GBPUSD gets bullish vibes within range

Posted on July 21, 2020 at 7:20 am GMT

GBPUSD has been consolidating between the 20- and 200-day simple moving averages (SMAs) for more than a week, but the pair is now looking ready for a bullish breakout above the latter. Although somewhat flattish, the market structure remains positive, with the price printing higher highs and higher lows following the rebound from the 35-year low of 1.1409. The momentum indicators are also in favor of the bulls as the RSI is rising comfortably above its 50 neutral mark and [..]

Technical Analysis – GBPUSD lacks clear direction trapped between the SMAs

Posted on July 17, 2020 at 1:10 pm GMT

GBPUSD is in the process of pushing under the 1.2515 level, that being the 61.8% Fibonacci retracement of the down leg from 1.3200-1.1410, after the hike from 1.2250 was kept at bay by recent congested highs (1.2650-1.2686). The short-term oscillators echo the pick-up in negative momentum. The MACD has dipped below its red signal line and the zero mark, while the RSI deteriorated in bearish territory. Moreover, the negative tone of the stochastic oscillator further reflects the weakening in the [..]

Market Comment – Fears grow about virus surge but stimulus hopes put a lid on risk-off

Posted on July 17, 2020 at 8:41 am GMT

US daily virus tally tops 77,000; escalation in Australia and Japan also worries investors Stocks tread water but stimulus and vaccine hopes keep bull market alive Euro on the backfoot ahead of EU stimulus decision No letup in new virus cases yet A continued surge in the number of new coronavirus cases being reported in hotspots around the world has taken the steam out of the risk rally this week, with not even robust data out of China and the [..]

Daily Market Comment – Euro surges, stocks bounce back amid fresh vaccine hopes

Posted on July 15, 2020 at 8:33 am GMT

Vaccine hopes boost risk assets; Wall Street selloff is over before it even began Euro and aussie charge ahead; pound and loonie try to catch up Oil holds its nerve as OPEC+ set to ease production cuts Mixed earnings overshadowed by promising vaccine results Global equities were back in bullish mode on Wednesday after a brief wobble earlier in the week had some investors worried that this could be the start of a long overdue correction in the markets. However, [..]

Daily Market Comment – Wall Street stumbles as US-China tensions brew, virus cases surge

Posted on July 14, 2020 at 8:46 am GMT

Nasdaq falters as more US states roll back reopenings amid record new infections Sino-US tensions also upset stocks, but dollar and gold hold steady Markets braced for busy week as earnings, data and central bank meetings coming up Tech stocks in rare selloff Shares on Wall Street slipped late into the session on Monday as a persistent surge in new coronavirus cases across the United States unnerved investors. The tech-heavy Nasdaq Composite had been trading in record territory before reversing [..]

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