All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD loses steam above uptrend line

Posted on April 5, 2024 at 10:36 am GMT

GBPUSD retests mid-level of the range at 1.2670 20- and 50-day SMA post bearish cross Technical oscillators move sideways GBPUSD is losing momentum again after the pullback off the bearish crossover within the 20- and 50-day simple moving averages (SMAs) near the 1.2670 resistance level. The pair is testing the long-term ascending trend line and is holding within the medium-term trading range. The technical oscillators are validating the neutral-to-bearish perspective as the MACD is continuing its descent below both its [..]

Technical Analysis – GBPUSD battles with 200-day SMA

Posted on April 3, 2024 at 6:35 am GMT

GBPUSD drops below uptrend line Price remains within sideways channel MACD and RSI indicate neutral-to-bearish bias GBPUSD dropped beneath the long-term ascending trend line and the 200-day simple moving average (SMA). Nevertheless, it has not escaped the consolidation area of 1.2520-1.2820, which has confined the price action since November 24. Currently, the pair is trying to recoup some of the previous days’ losses, but the momentum is still weak. In case of a sell-off beneath the lower boundary of the range and the [..]

Market Comment – Dollar and gold rise in tandem as Fed rate cut bets pared back

Posted on April 2, 2024 at 9:17 am GMT

Dollar strengthens across the board after upbeat ISM as June cut hopes fade Japan keeps up intervention rhetoric as yen stays under pressure Gold undeterred by strong dollar, rebounds towards record high Equities mixed ahead of crucial European and US data Rate cut bets suffer another blow Hopes for an early rate cut by the Fed were dashed again on Monday following yet another upbeat data release out of the US. The ISM manufacturing PMI rose more than expected in [..]

Technical Analysis – GBPUSD starts April with a drop

Posted on April 2, 2024 at 8:01 am GMT

GBPUSD moves sharply down on the first trading day of April 2024 neutral trajectory valid above 1.2500 GBPUSD plummeted to a six-week low of 1.2538 as investors returned from the Easter holiday break, re-establishing the downward pattern from the March high. Given the price’s position at the bottom of the 2024 range and around the lower Bollinger band, it will be intriquing to observe if the pair can avoid a bearish breakout even after getting another rejection from the [..]

Technical Analysis – GBPUSD keeps sideways move intact

Posted on March 29, 2024 at 11:45 am GMT

GBPUSD holds within 50- and 200-day SMAs Prices remain above uptrend line MACD and RSI lose steam GBPUSD is moving sideways within a tight range of the 50- and the 200-day simple moving averages (SMAs) at 1.2590 and 1.2675 respectively, in the very short term. In the broader outlook the pair is still in a consolidation area as well, failing to boost the long-term bullish view. According to the technical oscillators, the MACD oscillator is standing beneath its trigger and zero lines, while the RSI is [..]

Technical Analysis – GBPUSD bounces off 200-day SMA

Posted on March 26, 2024 at 8:19 am GMT

GBPUSD finds support at uptrend line But short-term outlook remains neutral MACD and RSI are mixed GBPUSD rebounded off the 200-day simple moving average (SMA), which coincides with the 1.2595 support level and the medium-term ascending trend line. The market has still been developing within a consolidation area since November 21, despite the break to the upside that it had on March 8, which seems to be a failed signal. Technically, the MACD oscillator is moving beneath its trigger and [..]

Market Comment – Dollar eases from highs as intervention warning props up yen

Posted on March 25, 2024 at 10:22 am GMT

Intervention threat spurs mild rebound in yen after top currency official’s warning Yuan also rebounds, triggering broader retreat in US dollar Stock market rally cools amid quieter week before Easter break, core PCE eyed Yen firmer after fresh verbal intervention The Japanese yen edged higher on Monday, starting the holiday-shortened week on a steadier note, following a 3.5% slide on the back of the Bank of Japan’s dovish rate hike last week. Whilst the BoJ’s historic exit from negative rates [..]

Market Comment – Stocks at fresh records even as dollar bounces back

Posted on March 22, 2024 at 10:38 am GMT

Wall Street leads rally in equity markets, fuelled by rate cut optimism But US dollar stages surprise rebound amid US exceptionalism Pound slides on BoE’s dovish tilt, yen steadies, PBOC loosens grip on yuan Equities buoyed as easing expectations gather pace Shares on Wall Street are headed for strong weekly gains following the conclusion of the March central bank meetings that cemented rate cut expectations for 2024. After the European Central Bank paved the way for lower rates at the [..]

Technical Analysis – GBPUSD eases further from 2024 highs

Posted on March 21, 2024 at 1:25 pm GMT

GBPUSD remains above uptrend line Retests 20-day SMA MACD and RSI indicate more losses GBPUSD has tumbled towards the medium-term ascending trend line after it reached a new 2024 high and a fresh six-month peak of 1.2892 earlier this month. Currently, the market is meeting the 20-day simple moving average (SMA) near 1.2730 with the technical oscillators suggesting more bearish actions. The MACD is standing below its trigger line above the zero level, while the RSI is ticking down and is ready to cross [..]

Technical Analysis – GBPUSD trims FOMC rally amid a busy day

Posted on March 21, 2024 at 9:35 am GMT

GBPUSD corrects lower after hitting resistance at 1.2800 Technical signals weaken, but key support levels are underneath GBPUSD rose exponentially in the aftermath of the FOMC policy meeting, but the ascending line drawn from the December 2023 low interrupted the rally near the 1.2800 level and forced a new bearish move on Thursday before the BoE policy announcement due at 12:00 GMT. On the four-hour chart, the stochastic oscillator appears to be losing momentum above its overbought level of 80, while [..]

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