All Articles Tagged - GBPUSD

Market Comment – Gold eases from highs as markets stay calm despite Gaza offensive

Posted on October 30, 2023 at 9:57 am GMT

Gold hits $2,000 as Israel begins ‘second stage’ of war in Gaza, oil jumps too But safe haven demand eases on Monday as focus turns to central banks Dollar slips below 150 yen as yields consolidate ahead of Treasury announcement Markets on edge but no panic as Gaza conflict escalates Israel’s long-expected ground offensive into the Gaza Strip got underway over the weekend, raising the stakes in an ever-escalating conflict that is looking increasingly like it’s turning into a long-drawn-out [..]

Week Ahead – Will BoJ steal the limelight from Fed and BoE?

Posted on October 27, 2023 at 10:41 am GMT

Central bank meetings continue in earnest with BoJ, Fed and BoE Fed and BoE to likely stand pat, but BoJ might tweak policy again NFP report and Eurozone flash GDP and CPI data also in focus Fed pause likely to be of little relief for yields Just a few weeks ago the November FOMC meeting was seen as a live one, but expectations of a rate hike have evaporated in the run up to Wednesday’s decision. The latest commentary from [..]

Technical Analysis – GBPUSD receives positive vibes

Posted on October 24, 2023 at 7:50 am GMT

GBPUSD has its best day since July Bulls await a close above 1.2300 GBPUSD enjoyed a whopping start to the week, marking one of its strongest days since mid-July to rise as high as 1.2257 on Monday. The technical outlook is looking promising at the moment. The pair confirmed a bullish doji candlestick pattern near last week’s low of 1.2089 and around the support trendline drawn from the 2022 low, suggesting more positive sessions ahead. The technical indicators align [..]

Technical Analysis – GBPUSD bears still hold the upper hand

Posted on October 23, 2023 at 2:56 pm GMT

GBPUSD edges higher today but continues to respect the July 14, 2023 trendline It has been exhibiting lower volatility lately, partly due to busy calendar ahead Momentum indicators could turn more bearish soon GBPUSD is trading higher today and it has been spending its last few sessions in the 1.1957-1.2287 region, respecting the July 14, 2023 descending trendline. The market appears to be in waiting mode ahead of this week’s key events – primarily the US GDP release – and [..]

Market Comment – Gold and oil keep rising as Israel-Gaza conflict shows no sign of easing

Posted on October 20, 2023 at 9:23 am GMT

Possibility of weekend escalation in Middle East propels gold and oil higher Powell remarks provide only modest respite to bond selloff, dollar holds steady Stocks continue to struggle as uncertainties rise, Powell keeps rate hike option Simmering tensions keep markets on edge The ongoing conflict in the Middle East continued to weigh on market sentiment on Friday as investors were on alert for a possible escalation over the weekend. With reports suggesting that a ground offensive by Israel into the [..]

Market Comment – Stocks pummelled as yields and oil extend gains, dollar firms ahead of Powell

Posted on October 19, 2023 at 9:10 am GMT

Bond yields continue to rise as surging oil prices add to higher for longer case Stocks pressured as higher yields start to bite, earnings disappoint Oil and gold ease from highs but eye more gains amid ongoing tensions in Mideast Markets unsettled by geopolitics as oil rallies Stock markets fell deeper into the red on Thursday after widespread losses yesterday on the back of the tense mood in the Middle East that has fanned the rally in crude oil, which [..]

Market Comment – Investors add to Fed hike bets after solid US retail sales

Posted on October 18, 2023 at 8:34 am GMT

US retail sales rise more than expected, bolster Fed hike case Pound slides on slowing wages, rebounds on sticky inflation Aussie and kiwi aided by China’s GDP beat; loonie supported by higher oil prices Wall Street ends mixed; gold extends gains on safe-haven flows Dollar receives support, yields surge on US retail sales beat The US dollar traded mixed against the other major currencies on Tuesday, gaining against the pound, the yen, and the kiwi, but losing ground versus the [..]

Market Comment – Equities gain, gold slips amid diplomatic push to contain Mideast crisis

Posted on October 17, 2023 at 9:07 am GMT

Risk aversion eases as diplomatic efforts to end Israel-Gaza war ramped up Gold off highs, while earnings optimism additionally boosts Wall Street Dollar steady as yields resume climb ahead of US retail sales, Fed speakers Mood improves on diplomacy hopes Risk sentiment was notably more buoyant on Tuesday as fears about the unfolding situation in Israel and Gaza developing into a wider conflict ebbed somewhat. A rush of diplomacy by global leaders to defuse the crisis appears to have soothed [..]

Technical Analysis – GBPUSD struggling to stage a rebound

Posted on October 17, 2023 at 7:24 am GMT

GBPUSD stuck in a steep decline since mid-July Bounces off seven-month low but fails to post a moderate recovery Completion of death cross could induce downside pressures GBPUSD has been forming a structure of lower highs and lower lows since its 16-month peak of 1.3141. Meanwhile, in the near term, both the RSI and the stochastic oscillator are tilted to the bearish side, shattering the bulls’ hopes for a sustained rebound. Should the downtrend resume, the price may initially face [..]

Technical Analysis – GBPUSD is not out of the woods yet

Posted on October 16, 2023 at 2:48 pm GMT

GBPUSD bears take a breather near a key support line Short-term bias skewed to the downside GBPUSD started the week with small gains, which balanced out Friday’s decline but did not significantly improve sentiment as major resistance levels remain overhead. The technical signals are currently mirroring a cautious mood in the market, with the RSI moving sideways below its 50 neutral mark and the MACD stabilizing around its red signal line. In the meantime, the stochastic oscillator keeps following a downward path towards [..]

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