All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD slows back below 1.29; neutral in short term

Posted on February 19, 2019 at 8:20 am GMT

GBPUSD passed through the 1.29 level on Monday but early on Tuesday the bears blocked the way, sending the pair lower. In momentum indicators, the red Tenkan-sen line seems to be flattening, while the RSI is struggling to surpass its 50 neutral mark, both suggesting a sideways market for the short term. The 1.2830-1.2780 area could provide immediate support in case bearish action picks up steam. Falling lower and below the 1.2700 round level, support could run towards the 1.2660 barrier [..]

With Brexit in limbo, pound looks to UK jobs data – Forex News Preview

Posted on February 18, 2019 at 12:15 pm GMT

The latest British employment data are due for release on Tuesday, at 09:30 GMT. Forecasts point to some further acceleration in wage growth during December, which is encouraging and could support the pound on the news. That said, with less than six weeks left until the UK exits the EU, and still no agreement in place, any data-induced rallies in sterling may remain limited until the political fog clears a little. The UK labor market remains the economy’s bright spot, [..]

European Open Preview – Stocks & commodity currencies cheer trade progress

Posted on February 18, 2019 at 8:48 am GMT

Risk sentiment buoyed by signs of progress in US-China talks, though risk of auto tariffs casts shadow ECB’s Coeure sends the euro lower, but single currency bounces back US and Canada closed for today, attention may be on Brexit Stocks rally alongside commodity currencies amid trade “progress” Encouraging headlines around the US-China trade talks boosted global risk sentiment on Friday, following the conclusion of the high-level talks in Beijing. Both sides played up hopes for a deal, with President Trump [..]

Week Ahead – Flash February PMIs eyed for growth clues; Fed and ECB minutes to be watched too

Posted on February 15, 2019 at 1:33 pm GMT

The focus will firmly be on economic indicators next week as political and central bank events temporarily take a back seat. The latest PMI releases for the Eurozone will be one of the highlights as growth in the region grinds to a halt, while employment numbers out of Australia and the United Kingdom will attract attention too. Japanese trade and inflation figures will also be on investors’ watch list. Central banks will not be totally absent, however, as the latest [..]

European Open Preview – Dollar, stocks retreat as data and trade talks disappoint

Posted on February 15, 2019 at 8:46 am GMT

Dollar and equities pull back after US retail sales plummet and trade talks seem likely to disappoint Pound underperforms as PM May loses another Brexit vote Euro/dollar stabilizes somewhat, supported by rate differentials UK retail sales and early US data for February coming up today Dollar drops alongside stocks as retail sales plunge, trade optimism fades The dollar retreated in tandem with US equity markets yesterday, both giving back some of their recent gains, following disappointing US data and signs [..]

European Open Preview – Markets climb on trade euphoria; dollar rally revitalized

Posted on February 14, 2019 at 8:54 am GMT

Stock markets grind higher as trade hopes grow, but caution warranted Dollar bulls back in the driver’s seat as core inflation beats forecasts Aussie and kiwi outperforming on Chinese data; focus on trade talks Trade euphoria keeps markets afloat as talks commence, but mind the risks US stock markets continued their march higher yesterday, and futures suggest they are set to open in the green today as well, buoyed by optimism around trade after the US President indicated the talks [..]

European Open Preview – Kiwi roars back as RBNZ disappoints the bears

Posted on February 13, 2019 at 8:45 am GMT

Kiwi skyrockets after RBNZ refrains from signaling rate cuts, but downside risks linger Trump’s trade comments reinvigorate risk appetite UK and US inflation data highlight the agenda today RBNZ fails to live up to market’s dovish expectations, kiwi explodes up As expected, the Reserve Bank of New Zealand (RBNZ) kept its policy unchanged overnight, maintaining a relatively balanced tone overall. It acknowledged that downside risks have increased, particularly on a global level, but retained some optimism on the outlook. Most [..]

UK inflation to dip below 2%; January retail sales eyed after weak GDP – Forex News Preview

Posted on February 12, 2019 at 11:10 am GMT

After the disappointing GDP numbers for the fourth quarter, the pound is unlikely to find much support from the next set of data to be published in the UK this week. January inflation and retail sales readings are due on Wednesday and Friday, respectively, at 09:30 GMT. Both reports are expected to point to further weakness in the British economy, as a combination of lingering Brexit uncertainty and global growth slowdown take their toll. Prices pressures in the UK have [..]

European Open Preview – Dollar rips higher; RBNZ meeting in focus

Posted on February 12, 2019 at 8:41 am GMT

Dollar soars as ‘there is no alternative’; Fed’s Powell speaks at 17:45 GMT News US government shutdown may be avoided support risk sentiment RBNZ meets overnight; may strike a cautious tone, but is unlikely to be as dovish as market pricing implies Dollar rips higher, but can the bulls stay in control? The greenback shined for yet another session, continuing its unrelenting rally for an eighth day in a row versus a basket of major currencies, without much in the [..]

Technical Analysis – GBPUSD finds support around 40-day SMA after bearish rally

Posted on February 12, 2019 at 7:38 am GMT

GBPUSD is currently challenging the 40-simple moving average (SMA) in the daily timeframe after the aggressive selling interest from the three-and-a-half month high of 1.3217 on January 25. The price is also hovering around the 23.6% Fibonacci retracement level of the downward movement from 1.4375 to the 21-month low of 1.2390. The short-term bias remains neutral to bearish, as confirmed by the technical indicators. The RSI indicator is flattening around the 50 level, while the MACD oscillator is slipping in the positive zone below the [..]

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