All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD’s positive momentum could fade; indicators are flat

Posted on July 14, 2020 at 7:13 am GMT

GBPUSD has been moving sideways since the rebound off the 35-year low of 1.1409 on March 20, holding in an upward sloping channel. In the short-term, the market could maintain consolidation if the RSI keeps moving around 50 and the red Tenkan-sen line, as well as the blue Kijun-sen line, hold flat. Also, the MACD oscillator is moving marginally above zero level with weak momentum. An extension to the upside and above the 61.8% Fibonacci retracement level of the down leg from [..]

Pound eyes UK GDP rebound but data to stress steep mountain to climb – Forex News Preview

Posted on July 13, 2020 at 2:52 pm GMT

Economic data out of the United Kingdom will be flooding the markets over the next few days with Tuesday’s monthly GDP print being the main highlight. The scheduled releases on growth, production, inflation and employment should reveal how the economy fared in May and June when Britain was gradually emerging from lockdown. But as output recovers from a record drop in April, the pound has moved to the bottom of the 2020 performance table as investors fear about the UK’s [..]

Week Ahead – US, China data to keep recovery theme going; ECB, BoJ and BoC meet

Posted on July 10, 2020 at 12:38 pm GMT

There will be no shortage of big headline events over the next few days as major data releases, central bank meetings and an EU gathering should make for a busy week. However, the primary focus will be on the recovery story amid further spikes in coronavirus cases in several countries, including the United States. Retail sales numbers out of America and second quarter GDP figures from China should reveal whether the growth rebound is maintaining momentum. On the other hand, [..]

Technical Analysis – GBPUSD tumbles after touching 3-month high

Posted on July 10, 2020 at 7:24 am GMT

GBPUSD has been in an ascending move after the rebound on the 1.2250 trough, touching a new three-month high of 1.2670. The price is currently testing the 20-day simple moving average (SMA), while the RSI indicator is pointing slightly down near the 50 level. Also, the MACD is losing momentum beneath its trigger line but it still hovering above the zero line. An extension of the downside movement could hit the 50.0% Fibonacci retracement level of the up leg from [..]

Pound: six months remaining for a Brexit trade deal – Special report

Posted on July 9, 2020 at 12:50 pm GMT

While the world is nervous about the Covid-19 second wave, the British pound has another reason to worry about its recovery: the Brexit saga. Six months after its departure from the European Union, the UK has just started to negotiate the terms of a trade deal with the bloc. And while the blame for the slow progress could be largely placed on the social distancing orders, the latest unfruitful round of talks suggests that solidifying an agreement is extremely difficult [..]

Daily Market Comment – Nasdaq and gold take to the skies, dollar tanks

Posted on July 9, 2020 at 8:31 am GMT

Stocks and commodity currencies grind higher without much news Sinking dollar lifts all FX boats, pound and loonie capitalize the most Gold rally keeps rolling – has bullion changed roles with the dollar? Weekly US jobless claims today to reveal initial impact of re-closures Investors stick to crisis playbook, buy tech shares and gold News flow was rather limited on Wednesday, helping global markets to stay in a good mood since ‘no news is good news’ these days, with such [..]

Daily Market Comment – Dollar steadies as opposing narratives clash

Posted on July 8, 2020 at 8:16 am GMT

Markets calm down after a mild dose of risk aversion Dollar climbs and stocks pull back, though both moves retrace on Wednesday Sterling outperforms ahead of a budget update by Chancellor Sunak today Gold shines bright, touches 2011 highs amid ‘organic’ demand Markets split between narratives Doubts around the resilience of the economic recovery returned to haunt markets on Tuesday, dragging Wall Street lower and propelling the haven-like dollar higher, as investors trimmed their risk exposure ahead of what seems [..]

Daily Market Comment – Markets pause to assess risks after leaping higher

Posted on July 7, 2020 at 8:27 am GMT

Currencies and equities in a more cautious mood Tuesday, as China-led euphoria peters out Dollar regains its footing but only mildly, aussie drops after Melbourne goes into full lockdown Risk/reward outlook for ‘risk trades’ seems quite unattractive from here Soaring Chinese stocks lift all boats, but enthusiasm fades Global markets staged a powerful rally to kick off the new week. Stock indices in most regions closed with solid gains while the defensive US dollar edged lower, with no real catalyst [..]

Technical Analysis – GBPUSD’s positive drive wanes, directional pressures disappear

Posted on July 7, 2020 at 6:35 am GMT

GBPUSD’s lack of momentum has frozen the pair around the mid-Bollinger band and above the 1.2462 mark, that being the 50.0% Fibonacci retracement of the down leg from 1.3514 to 1.1410. Despite the recent improvement from the lower Bollinger band, the short-term oscillators reflect a state of evaporated directional momentum. The MACD and its red trigger line are flat at the zero mark, while the RSI is hovering marginally above the 50 threshold. The stochastic lines have stalled just above [..]

Daily Market Comment – Nasdaq set for new records, yen and dollar hammered

Posted on July 6, 2020 at 8:33 am GMT

Investors start week in risk-taking mood, despite fading hopes of a V-shaped recovery Global stocks cruise higher, led by China, as yen and dollar crumble Positive mood could endure for now, especially if the ‘weekend effect’ of lower US cases on Monday holds Today: ISM non-manufacturing PMI, ahead of RBA meeting early on Tuesday Nasdaq set for new records as China exports optimism The bulls have taken the upper hand in financial markets to start the week, with global stocks [..]

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