All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD erases some losses; bullish in near term

Posted on March 19, 2019 at 7:37 am GMT

GBPUSD has been moving higher since the rebound on the 21-month low of 1.2390 on January 3, creating a bullish tendency in the daily timeframe. After touching the nine-month high of 1.3380, cable returned lower but is hovering above the 20- and 40-simple moving averages (SMAs). The market could maintain upside momentum as the RSI remains in a positive area and the MACD has jumped above its trigger line in the bullish zone. An extension to the upside and above the 1.3350 – 1.3380 key area could meet the 1.3475 resistance [..]

BoE decision, potential Brexit vote, and key UK data to drive sterling – Forex News Preview

Posted on March 18, 2019 at 3:25 pm GMT

It will be an action-packed week for the British pound. The UK Parliament could vote on PM May’s deal for a third time, the Bank of England (BoE) will announce its decision on Thursday, while key economic data will be released throughout the week. As always, politics will probably dominate economics in driving sterling. While the ultimate destination for the currency may be higher from here, the absence of any clarity over what happens next in Brexit suggests that a [..]

European Open Preview – Dollar softens as Fed meeting looms; stocks climb

Posted on March 18, 2019 at 9:11 am GMT

US stocks rally to six-month highs but perhaps on option expiries – implying some cause for caution Dollar retreats in a quiet session; looks to Fed meeting on Wednesday Sterling catches its breath ahead of potentially decisive week US equities cruise to six-month highs on ‘quad witching’ In an otherwise quiet session, US stock markets rallied on Friday, with the benchmark S&P 500 (+0.50%) index breaking above a critical resistance zone around 2,820 that capped several rallies in recent months, [..]

Week ahead – Fed, BoE, and SNB policy meetings highlight a packed agenda

Posted on March 15, 2019 at 1:18 pm GMT

Traders will be glued to their screens next week amid a barrage of crucial events, ranging from a highly-anticipated Fed policy meeting to even more Brexit votes in the British Parliament. At the same time, almost every major economy will see the release of data that could be decisive for their respective currencies, particularly considering the synchronized shift by central banks towards a more ‘cautious’ stance lately. Fed decides: All eyes on the new ‘dots’ Arguably the main event in [..]

European Open Preview – UK to seek Brexit delay but pound down as third meaningful vote looms

Posted on March 15, 2019 at 9:14 am GMT

Sterling retreats lower despite Parliament voting to extend Article 50 as investors eye EU summit and third meaningful vote next week Risk sentiment boosted by “substantive progress” in US-China trade talks but disappointment that there will be no March summit Gold back above $1300 after North Korea says may suspend denuclearisation talks with US Pound fails to resume rally after MPs vote to delay Brexit British lawmakers on Thursday voted to extend the Article 50 process as expected, which, together [..]

European Open Preview – Sterling soars after Parliament rejects no-deal Brexit; Trump trade comments weigh on sentiment

Posted on March 14, 2019 at 9:12 am GMT

Pound continues rollercoaster ride amid more Brexit twists and turns at Westminster; MPs look set to vote in favour of delaying Brexit Chinese industrial production falls to 17-year low, dampening market sentiment President Trump says he is “in no rush” to complete trade talks with China, raising doubts about a March deal Pound leaps to 9-month high as no-deal Brexit is voted down The British currency jumped to a 9-month peak of $1.3383 on Wednesday after the UK Parliament voted [..]

European Open Preview – Pound swings wildly on May’s Brexit defeat; more votes to come

Posted on March 13, 2019 at 9:01 am GMT

Pound edges up, recovering from earlier sharp losses, as UK Parliament expected to vote against no-deal Brexit May’s yet another historic defeat leads equities into risk-off mood; global growth concerns and Boeing slump also weigh Aussie slips on weak consumer confidence Sterling likely to remain volatile as British MPs to vote on no-deal and delaying Brexit After rallying sharply to a high of $1.3288 yesterday, the pound dramatically reversed lower, hitting a low of $1.3003 as it became apparent that [..]

European Open Preview – Pound extends rally on revised Brexit deal but Parliament backing unclear

Posted on March 12, 2019 at 8:53 am GMT

Pound extends yesterday’s surge as May secures ‘legally binding’ changes to Brexit deal All eyes now on British Parliament amid doubts whether EU’s legal assurances will be enough Equities rally and yen retreats as risk appetite improves and on hopes of more stimulus in China Sterling back above $1.32 on hopes May can win MPs backing with revised deal The British pound was the star performer for a second day on Tuesday as UK prime minister, Theresa May, managed to [..]

Technical Analysis – GBPUSD quickly erases earlier gains; bullish in short term

Posted on March 12, 2019 at 7:51 am GMT

GBPUSD posted a sharp bullish rally earlier today almost challenging the 1.3300 handle, however, the price quickly erased those gains and returned back around 1.3200. In the previous day, cable added 230 pips gains, driving the price above the 23.6% Fibonacci retracement level of the upleg from 1.2390 to 1.3350, around 1.3120. Technically, the RSI continues to flatten around the neutral threshold of 50, while the MACD is gaining some steam approaching the trigger line, both signaling that a bullish to neutral move is likely to persist in [..]

With a Brexit extension in sight, what’s the outlook for sterling? – Special Report

Posted on March 8, 2019 at 2:35 pm GMT

The coming week will be a crucial one for the Brexit process, as the UK Parliament will finally have a chance to vote for an extension of the exit date. Alas, even if that happens, such a delay would only be a one-time trick, so ‘something has to give’ by the summer. While the eventual destination for sterling is likely to be higher from current levels, the fact that the deadlock is unlikely to be resolved over the coming months [..]

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