All Articles Tagged - GBPUSD

Daily Market Comment – Stocks back in the black, dollar selling takes a breather

Posted on June 9, 2020 at 8:22 am GMT

S&P 500 recoups all its losses for the year, Nasdaq hits new record Optimism echoed in FX too, with dollar struggling as commodity currencies hit multi-month highs However, we are seeing a reversal of these moves today – some profit taking? Looking ahead, much will depend on what the Fed does and whether a second wave hits the US S&P turns flat for 2020, Nasdaq cruises to new highs Fear has given way to greed in an impressive way over [..]

Technical Analysis – GBPUSD ticks above 200-SMA but bulls hit new resistance

Posted on June 9, 2020 at 7:17 am GMT

GBPUSD finished Monday’s session slightly above the 200-day simple moving average (SMA) following last week’s roller coaster which put the strong rebound from 35-year lows back into life. Whether the pair could push for more gains depends now on the 1.2760 resistance which is currently under examination. Should it give way, the rally could get more legs towards the 1.2850 barrier, while higher, there is a tougher wall standing around 1.2975 which the bulls need to pull down in order to accelerate [..]

Week Ahead – Recovery hopes to remain front and centre as Fed to sit out June meeting

Posted on June 5, 2020 at 1:05 pm GMT

As global markets set their sights on a quick recovery from the COVID-19 crisis, key economic data for April – when the pandemic impact is thought to have peaked – will likely be sidelined next week. The Federal Reserve might also struggle to attract the usual attention when it holds a scheduled meeting as investors are not anticipating any new policy action. But as safe havens like the dollar and yen give way to virus-battered currencies, there are plenty of [..]

Technical Analysis – GBPUSD spikes above 1.2600 but returns some gains

Posted on June 5, 2020 at 11:07 am GMT

GBPUSD spiked towards a three-month high of 1.2705 but it finished the session below the 1.2645 barrier on Thursday. The upside rally which started after the rebound on the 1.2075 support could take a breather in the near term as the momentum indicators are suggesting a pullback. The RSI is edging south below the 70 level, while the MACD is holding beneath its red trigger line. A declining move could find immediate support at the flat red Tenkan-sen line around 1.2590 and the 20-period simple moving average (SMA) at [..]

Daily Market Comment – Euro soars after ECB’s surprise; dollar extends slide ahead of NFP

Posted on June 5, 2020 at 8:30 am GMT

Euro skyrockets after ECB increases pandemic stimulus by more than expected Dollar stuck in a downward spiral, unlikely to be saved by US jobs report Oil clings on to gains despite OPEC confusion ECB takes out the bazooka again The resurgent euro, which has been rallying on the back of recovery hopes for the Eurozone economy, got another shot in the arm on Thursday after the European Central Bank delivered a bigger-than-expected stimulus. The ECB boosted its pandemic emergency purchase [..]

Daily Market Comment – Dollar steadies as stocks pause rally; euro eyes ECB stimulus

Posted on June 4, 2020 at 8:33 am GMT

Dollar regains some positive footing as risk rally eases Euro takes a breather ahead of ECB decision Oil pulls back amid doubts about OPEC+ extending output cuts Dollar fights to end losing streak as stocks lose steam The US dollar fought back on Thursday to retain its reign over FX markets, which has come under threat over the past week as rising optimism about the global economy recovering from the pandemic has revived risk assets. The dollar index, which measures [..]

Daily Market Comment – Dollar slumps as recovery hopes gather pace

Posted on June 3, 2020 at 8:37 am GMT

Increasing optimism of strong economic recovery pummel the dollar Yen loses shine too, but gold holds within range as US and China risks linger Loonie nears 3-month high as BoC and OPEC+ decisions eyed Markets shrug off US unrest, look to recovery After a brief scare on Tuesday, it didn’t take long for risk appetite to get back into full mode as investors largely ignored growing unrest in the United States to instead focus on the increasing signs that a [..]

Daily Market Comment – US protests rage on, start to weigh on dollar

Posted on June 2, 2020 at 8:28 am GMT

Trump inflames protests, threatens martial law as US stocks begin to take notice Dollar extends slide as recovery hopes keep positive sentiment intact Aussie flirts with $0.68 after RBA, pound shoots above $1.25 despite Brexit risks Oil steady ahead of OPEC+ meeting Market unease as protests ravage US cities Mass protests continue for a seventh day across major cities in the United States, causing widespread damage and looting in what is another blow for businesses already crippled by the shutdowns [..]

Technical Analysis – GBPUSD ready to hit 100-day SMA after strong rally

Posted on June 2, 2020 at 6:28 am GMT

GBPUSD had an impressive increase on Monday, jumping above the 50.0% Fibonacci retracement level of the down leg from 1.3515 to 1.1409 at 1.2460 and heading towards the 100-day simple moving average (SMA). The bias in the short-term timeframe remains neutral within the 1.2460 and the 1.2080 lines. According to momentum indicators, the RSI is flattening above the neutral threshold of 50, while the MACD is climbing above the trigger line and is surpassing the zero line. Additionally, the Ichimoku [..]

Daily Market Comment – Hong Kong relief weighs on dollar and yen but gold lifted by US protests

Posted on June 1, 2020 at 8:33 am GMT

Trump’s mild response over Hong Kong sparks relief; stocks surge, dollar sags Aussie leads the gainers as RBA meeting not seen spoiling the rally But escalating protests across US pose new threat to recovery hopes; gold up Other risks also lurk as Brexit talks, ECB meeting and US jobs report ahead Trump refrains from tough Hong Kong sanctions Widespread relief in financial markets that President Trump stopped short of announcing damaging sanctions on China buoyed risk assets on the first [..]

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