All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD bulls trying to gain ground as 50-SMA breached

Posted on September 10, 2019 at 9:43 am GMT

GBPUSD met a roadblock at 1.2380 after a recent one-week drive up from a thirty-one-month low of 1.1957. The price climbed above the 50-day simple moving average (SMA) and the 1.2293 resistance, which is the 23.6% Fibonacci retracement level of the down move from 1.3381 to 1.1957. Dwindling positive momentum suggests that the price could adopt a short-term sideways approach as the MACD has risen slightly above zero into the positive territory, after distancing itself from its red trigger line, [..]

Daily Market Comment – Pound recovers as no-deal Brexit fears recede, for now

Posted on September 10, 2019 at 8:06 am GMT

Sterling outperforms as Johnson strikes a slightly more conciliatory tone Euro advances on reports Berlin is considering fiscal stimulus Safe havens retreat as US’ Mnuchin reiterates his optimism on trade Sterling cruises higher as no-deal Brexit chances recede, for now The political rollercoaster continues in the UK. Prime Minister Johnson lost another vote in Parliament yesterday, with lawmakers denying his request for a snap election again. Likewise, the legislation forcing the government to ask for a Brexit extension if no [..]

UK jobs market resilient in Brexit-hit economy as PM seeks ways to bypass law for extension – Forex News Preview

Posted on September 9, 2019 at 12:38 pm GMT

Labour market data will be watched out of the United Kingdom on Tuesday just as Parliament is suspended again only a week after returning from the summer recess. The employment report, due at 08:30 GMT, comes after today’s data pointed to a small bounce in UK growth in July. But while any upbeat data is supportive of the pound, traders will be looking for progress on the political and Brexit front before adjusting their long-term outlook for the currency. UK [..]

Daily Market Comment – Brexit the only game in town as markets wait for ECB

Posted on September 9, 2019 at 8:31 am GMT

All eyes on the UK as Boris takes another shot at securing a snap election Dollar little changed after NFP and Powell don’t move the needle – ECB in focus Markets stay in risk-on mood despite soft Chinese trade data Pound cools before another UK Parliament battle Never a dull moment in British politics. After a stormy week that saw the government lose its majority and suffer multiple Brexit defeats in Parliament, investors will keep their gaze locked on another [..]

Week Ahead – ECB stimulus eyed; China trade and US retail sales data in focus too

Posted on September 6, 2019 at 1:26 pm GMT

The European Central Bank’s policy meeting will be the focal point for traders next week as expectations are running high that a large stimulus package is on the way. But as the ECB takes action to boost flagging Eurozone growth, key indicators out of China, Japan, the United Kingdom and the United States will also be on the radar as investors seek clues about policy easing elsewhere. Chinese trade figures and US retail sales will be the main highlights from [..]

Daily Market Comment – Dollar lifted by upbeat US data; Powell and NFP report coming up next

Posted on September 6, 2019 at 8:25 am GMT

US dollar trims losses after string of upbeat data ease slowdown fears in the US Powell speech and US jobs report awaited for further clues Pound holds onto gains as Johnson battles to trigger a snap election Risk appetite recovers further on strong US data The week looks set to end on a positive tone as the mid-week rebound in risk appetite received an additional boost from robust economic indicators out of the United States yesterday. The US scored a [..]

Daily Market Comment – Risk assets recover as Brexit and trade worries ease

Posted on September 5, 2019 at 8:33 am GMT

Risk appetite returns as trade and geopolitical tensions subside overnight Pound bounces back as no-deal Brexit averted for now; elections could follow US and China agree to hold trade talks in October; global stocks surge Markets cheer ebb in trade and political tensions Traders were greeted with positive developments on all fronts on Thursday as the United States and China finally agreed on the basis for a new round of high-level talks, while the easing of political turmoil in Britain [..]

Daily Market Comment – Brexit turmoil deepens but pound steadies on weaker dollar

Posted on September 4, 2019 at 8:28 am GMT

PM Johnson calls for snap election after MPs approve to hold vote on blocking a no-deal Brexit Dollar slips after US manufacturing unexpectedly contracts in August, sending bond yields lower Loonie eases from lows as Bank of Canada decision is awaited Johnson eyes elections after losing majority UK Prime Minister Boris Johnson suffered a humiliating defeat in Parliament on Tuesday after 21 of his own MPs voted in favour of a cross-party bill that paves the way for a vote [..]

Daily Market Comment – Sterling crashes as UK’s Johnson tries to thwart bid to stop no-deal Brexit

Posted on September 3, 2019 at 8:16 am GMT

Pound dips below $1.20 as PM Johnson threatens to call an election if MPs try to block a no-deal Brexit Chinese yuan extends slide as US-China trade talks in doubt Aussie bounces back after RBA decision; GDP eyed next UK MPs fight to stop no-deal Brexit British lawmakers will today vote on whether to take control of the Parliamentary agenda in order to force a vote on Wednesday on extending the Brexit date beyond the October 31 deadline by three [..]

Technical Analysis – GBPUSD bearish signals strengthen within descending channel

Posted on September 3, 2019 at 7:22 am GMT

GBPUSD could not sustain its recent rebound as the upward line of the descending channel proved hard to break, with the bears leading the price slightly below the the key barrier of 1.1986 and to new 31-month lows on Tuesday. Technically, the negative momentum could stay in play in the short-term as the bearish signals have strengthened with the MACD slipping backwards in the negative area and under its red signal line and the RSI extending its downward move below its 50 [..]

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