All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD bears push for a breakout

Posted on February 14, 2024 at 8:17 am GMT

GBPUSD tests the support set by the 200-day SMA Bears are attempting a breakout from the recent trading range Momentum indicators tentatively support the correction GBPUSD is registering its second consecutive red candle as the bears are trying to push GBPUSD below its recent trading range following yesterday’s US CPI release. The 200-day simple moving average (SMA) and the October 26, 2023 ascending trendline are acting as strong support points at this moment, testing the bear’s determination. Momentum indicators appear to [..]

Technical Analysis – GBPUSD shows improvement within trading range

Posted on February 13, 2024 at 1:09 pm GMT

GBPUSD tests the short-term SMAs to the upside Technical signals are mixed GBPUSD is extending its movement to the upside, continuing the rebound off the 1.2520 support level. Currently, the market is meeting the 20- and the 50-day simple moving averages (SMAs) at 1.2670 and any movement above this region would hit the upper boundary of the trading range at 1.2785. A climb beyond the five-month high of 1.2825 could open the way for a bullish tendency towards the 1.3000 [..]

Market Comment – Markets seek direction from US CPI report

Posted on February 13, 2024 at 10:21 am GMT

Wall Street eases from highs as investors on standby for US inflation update Dollar supported as yields crawl higher, yen resumes slide Pound lifted by strong jobs data; Bitcoin soars above $50,000 Risk rally cools ahead of all-important inflation report Equities were mixed on Tuesday while major currency pairs traded within their recent ranges, with some exceptions, ahead of the crucial CPI numbers due out of the United States later in the day. After flirting with record territory again on [..]

Market Comment – S&P 500 hits 5,000 milestone as US CPI awaited

Posted on February 12, 2024 at 10:15 am GMT

Fading rate cut bets fail to deter tech rally as S&P 500 tops 5,000 Relief as no major changes in annual US CPI revisions, January report eyed next Dollar drifts sideways in thin trading amid holidays across Asia Tech boom leads S&P 500 to new record Shares on Wall Street extended their record streak last week as upbeat earnings as well as relief that the annual review of the US consumer price index left the inflation trend largely unchanged offset [..]

Weekly Technical Outlook – EURUSD, GBPUSD, USDJPY

Posted on February 12, 2024 at 9:25 am GMT

US CPI figure may confirm another bullish wave for EURUSD UK data this week could clear GBPUSD’s next direction Japan GDP to reverse higher; USDJPY may lose ground US CPI –> EURUSD In the US, inflation has been going down over time, but the CPI shows that the drop in the last few months has stopped short of bringing it all the way down to 2%. Although Fed officials are hopeful that prices will continue to fall over the next few [..]

Week Ahead – US CPI in the spotlight as dovish Fed bets fade

Posted on February 9, 2024 at 11:07 am GMT

All eyes on US CPI on Tuesday after run of strong data Retail sales on the agenda too for the US dollar Pound on standby for UK data flurry, including CPI and GDP Japanese GDP and Australian employment coming up too Will US CPI remain sticky? Inflation in the United States has generally been trending lower but the progress to get it all the way down to 2% has stalled in recent months, at least according to the CPI metric. [..]

Technical Analysis – GBPUSD retreats after bullish spike

Posted on February 9, 2024 at 10:12 am GMT

GBPUSD rests near the 20-period SMA RSI and MACD suggest bearish wave GBPUSD is falling after a bullish spike earlier today, testing the 20-period simple moving average (SMA) in the 4-hour chart. According to technical oscillators, the RSI is still standing below its 50 neutral mark, losing some pace, and the MACD oscillator has yet to confirm a bearish crossover within its trigger line in the negative territory, both keeping the bias on the downside for now. In the negative [..]

Pound traders lock gaze on UK inflation and GDP data – Preview

Posted on February 8, 2024 at 2:48 pm GMT

Investors price in rate cuts despite BoE’s ‘higher for longer’ mantra Will the UK CPI and GDP data confirm that view? CPI inflation on Wednesday (07:00 GMT), GDP on Thursday (07:00 GMT) Traders assign an 80% chance of a June BoE rate cut When they last met, Bank of England (BoE) policymakers decided to keep interest rates unchanged at 5.25%. However, the decision was not unanimous. Two members voted for raising interest rates by another 25bps and one favored a [..]

What now for the US dollar after rate cut delay? – Special Report

Posted on February 6, 2024 at 4:40 pm GMT

US dollar re-energized as strong data, hawkish Fed dent early rate cut bets American economy still churning out new jobs, shows no signs of cracks Will hot economy scupper the Fed’s plan to ease policy this year? From recession fears to overheating risk The US dollar may have ended 2023 on a bearish note as rate cut speculation reached fever pitch, but that has certainly not set the tone for 2024. In fact, the greenback rallied in the first week [..]

S&P 500 at all-time highs, expected to make bigger moves ahead – Volatility report

Posted on February 6, 2024 at 8:39 am GMT

Volatility remains low across the FX spectrum with the exception of EUR/USD Gold volatility drops but silver remains at its midpoint; oil and Bitcoin set for small moves S&P 500 volatility rises significantly; remaining stock indices in calmer waters Volatility in EUR/USD has jumped as the pair recorded a sizeable correction last week following some key data releases. The remaining currencies covered in this report, including the yen crosses, are expected by the market to record small price movements going [..]

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