All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD blocked by support near oversold area

Posted on September 30, 2019 at 7:18 am GMT

GBPUSD has paused its sell-off just above the 200-period simple moving average (SMA) and near three-week lows in the four-hour chart. But the falling Tenkan-sen suggests that the bearish action has more room to run. The RSI is backing this view as well, though it also signals that any downside may appear limited in the short-term as the indicator is not far above its 30 oversold level. The 1.2270 mark, which is slightly under the 200-period SMA and where the 50% Fibonacci of the upleg from [..]

Week Ahead – RBA expected to cut again; US jobs report and September PMIs in focus too

Posted on September 27, 2019 at 10:29 am GMT

More central bank meetings will follow in the coming week, this time with the Reserve Bank of Australia, while things will heat up a little on the data front as September PMIs are on the agenda, as well as the all-important US jobs report. Although investors have recently pared some of their bleakest outlook for global growth and recession risks have receded somewhat, the incoming data will nevertheless be watched closely as trade tensions could flare up at any moment. [..]

Daily Market Comment – Trade rollercoaster keeps sentiment fragile; dollar climbs

Posted on September 27, 2019 at 8:00 am GMT

Stocks retreat on trade doubts, but short-term outlook still positive Euro weakens amid ECB easing speculation, dollar capitalizes Flood of US data due out today, but trade issues more important for greenback Stocks pull back on reports US is unlikely to extend Huawei waivers Market moves were relatively muted on Thursday, as investors remained hesitant to increase their exposure until they get a better grip on the various risks currently at play, most notably the Trump impeachment threat and the [..]

Daily Market Comment – Dollar soars as impeachment worries fade, trade optimism returns

Posted on September 26, 2019 at 8:04 am GMT

Renewed trade optimism and fading impeachment concerns lift dollar & stocks One of the biggest ECB hawks resigns; Draghi speaks today RBNZ Governor plays down prospect of QE, lifts kiwi Dollar and equities shoot up as Trump says a trade deal may be close Global risk sentiment improved drastically on Wednesday, as a combination of optimistic trade remarks and diminishing fears of a US presidential impeachment saw investors rotate back into riskier assets. The market’s mood started to improve after [..]

What now for Boris and sterling after UK Supreme Court rules prorogation unlawful – Special Report

Posted on September 25, 2019 at 8:58 am GMT

The highest court in the United Kingdom has landed a fresh blow for Prime Minister Boris Johnson after it ruled that the government’s decision to suspend Parliament was unlawful. The surprise ruling cut Johnson’s trip to New York short where he was hoping to meet his EU counterparts on the sidelines of the United Nations General Assembly to speed up progress in the Brexit negotiations. But following the Supreme Court’s decision, it’s unclear whether Johnson can stay on as prime [..]

Daily Market Comment – Trump impeachment risk scares stocks; UK Parliament returns

Posted on September 25, 2019 at 8:09 am GMT

Trump impeachment probe dampens sentiment, but is the market overreacting? Pound cheers Supreme Court ruling, but retreats on Corbyn’s remarks RBNZ holds its fire, kiwi briefly spikes higher Risk aversion engulfs markets as Trump faces impeachment enquiry Sentiment in financial markets turned sour on Tuesday, as a double whammy of trade and political risks blindsided investors, triggering a rotation away from riskier assets like equities and towards defensive ones such as the yen and Swiss franc. The initial catalyst [..]

Technical Analysis – GBPUSD fails to conquer swing high; reverses back below 100-SMA

Posted on September 24, 2019 at 10:02 am GMT

GBPUSD bears took control, pivoting the pair around the swing peak of 1.2578 from July 12. The price correction has slipped underneath the 1.2500 hurdle and the 100-day simple moving average (SMA), the former being the 38.2% Fibonacci retracement of the down leg from 1.3381 to 1.1957. Momentum indicators are starting to fall in line with the bigger bearish picture. The MACD is declining towards its red trigger line in the positive zone and the RSI is horizontal near the [..]

Daily Market Comment – UK Supreme Court decision eyed ahead of RBNZ meeting

Posted on September 24, 2019 at 8:01 am GMT

UK Supreme Court rules at 09:30 GMT whether Parliament’s suspension was lawful – upside risk for sterling? RBNZ rate decision due early on Wednesday; kiwi may briefly spike higher US stocks recover after upbeat manufacturing PMI, but safe havens tell another story UK Supreme Court to rule on Johnson’s suspension of Parliament It will be an eventful day in Britain, as the nation’s Supreme Court will decide whether Boris Johnson’s choice to suspend Parliament for five weeks was lawful, or [..]

Daily Market Comment – Euro reels after dismal PMIs, but don’t panic yet

Posted on September 23, 2019 at 8:18 am GMT

Euro drops after German PMIs suggest recession ahead – but there may be good news there too Trump’s trade remarks dampen risk appetite Oil prices jump on reports that Saudi output may be offline for longer Euro reels as preliminary PMIs paint a gloomier picture The single currency is on the back foot early on Monday, following the release of the preliminary French and German PMIs for September, which signaled that more pain lies ahead for the European economy. All [..]

Daily Market Comment – Pound jumps on Brexit deal hopes; dollar edges lower

Posted on September 20, 2019 at 8:29 am GMT

Pound surges on rising odds of a Brexit deal; Barnier-Barclay meeting eyed Dollar edges lower as other central banks hold steady, Treasuries slip Cautious optimism as US-China trade talks resume Oil spikes again after Saudi Arabia strikes Houthi targets in Yemen Pound continues to surge amid Brexit deal talk Hopes that the United Kingdom and the European Union may yet reach a deal on their divorce terms boosted the pound on Friday, taking the currency to 2½-month highs versus the [..]

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