All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD drops to fresh 3-month low

Posted on September 19, 2023 at 6:56 am GMT

GBPUSD in a steady decline since mid-July Records consecutive multi-month lows and falls below the 200-day SMA Given that momentum indicators approach oversold conditions, can the price bounce back? GBPUSD has been forming a structure of lower highs and lower lows since its 15-month peak of 1.3141. Meanwhile, the RSI is touching its 30-oversold mark and the stochastic oscillator is within its 20-oversold territory, both suggesting that the recent decline might be overstretched. Should the bulls re-emerge and push the price higher, [..]

Weekly Technical Outlook – EURUSD, GBPUSD, USDJPY

Posted on September 18, 2023 at 10:11 am GMT

EURUSD hovers near key 1.0665 ahead of Fed decision A dovish BoE could trigger reversal confirmation in GBPUSD BoJ to stand pat; may help USDJPY extend its uptrend Fed rate decision -> EUR/USD The Fed is expected to stand pat on Wednesday, with the markets seeing only a 40% probability of another hike before this tightening campaign ends and around 80bps worth of rate cuts for next year. Thus, all the attention is likely to fall on the updated economic [..]

Week Ahead – Fed, BoE, and BoJ meetings to fuel FX volatility

Posted on September 15, 2023 at 11:18 am GMT

Central bank decisions in United States, United Kingdom, Japan, and Switzerland Fed almost certain to hit pause, markets will focus on updated rate projections More scope for surprises from Bank of England and Swiss National Bank instead Fed – mind the dots The central bank bonanza will kick off with the Fed on Wednesday. Markets are pricing in almost no chance of a rate increase, following several remarks from FOCM officials calling for patience and more time to examine [..]

Market Comment – Stocks perk up ahead of US CPI and ECB tests, dollar resumes climb

Posted on September 12, 2023 at 9:09 am GMT

Markets steady as US data and ECB decision awaited Wall Street starts week on optimistic note Yen eases slightly as dollar back on the front foot, pound unfazed by jobs data Calm prevails ahead of big tests Markets remained in a cautiously risk-on mode on Tuesday as hopes that China’s economic meltdown is stabilizing and that central banks are nearing the end of their tightening cycle shored up sentiment ahead of some key events lined up this week. Traders are [..]

Technical Analysis – GBPUSD bounces off 3-month low; bearish bias holds

Posted on September 12, 2023 at 7:47 am GMT

GBPUSD in a steady decline since mid-July Found its footing just shy of the 200-day SMA Can the bulls stage a comeback? GBPUSD has been forming a structure of lower highs and lower lows since its 15-month peak of 1.3141. Despite the latest rebound from a three-month low, the short-term oscillators are pointing to further downside as both the RSI and MACD are well within their negative territories. If the selling interest intensifies, the pair could face the recent support of [..]

Weekly Technical Outlook – EURUSD, GBPUSD, USDJPY

Posted on September 11, 2023 at 2:52 pm GMT

ECB to hold rates steady; EUR/USD may not enjoy lasting gains UK jobs & GDP data may be not be strong enough to push GBP/USD above key barrier US CPI inflation to strengthen but will USD/JPY resume uptrend? ECB rate decision –> EUR/USD ECB policymakers will analyze a dull dataset before announcing their next policy decision on Thursday at 12:15 GMT. On the one hand, inflation has not diminished enough to meet the central bank’s 2.0% symmetrical target despite interest rates standing at historic highs. [..]

Market Comment – Yen jumps on hawkish Ueda remarks, dollar slips ahead of US CPI

Posted on September 11, 2023 at 9:29 am GMT

BoJ’s Ueda hints at end to negative rates by year-end if wages rise Dollar starts week on the backfoot as crucial CPI data awaited China hopes lift aussie, equities; easing Apple selloff helps stocks too Ueda sparks BoJ policy speculation The Japanese yen shot higher on Monday, climbing against all of its major peers after Bank of Japan Governor Kazuo Ueda fanned speculation of an early exit from ultra-easy policy in an interview with the Yomiuri newspaper over the weekend. [..]

Week Ahead – ECB rate hike hangs in the balance; US CPI could edge up again

Posted on September 8, 2023 at 9:01 am GMT

The European Central Bank is headed for a crunch rate decision next week amid rising recession risks and the job on inflation not yet done. It’s going to be a big week for the US dollar as well, as the CPI and retail sales reports are due before the Fed’s September meeting. There’s a barrage of UK data that will keep the pound on its toes before the next Bank of England decision, while the market mood will also be [..]

Technical Analysis – GBPUSD stays bearish as key levels come into focus

Posted on September 7, 2023 at 1:00 pm GMT

GBPUSD is giving a negative performance for the third consecutive day, extending its downtrend from July’s peak of 1.3141 to a new three month low of 1.2449. The ongoing bearish wave is currently testing the 1.2420-1.2470 restricted zone, flirting with the 200-day simple moving average (SMA) too. Technically, the market is approching oversold levels, according to the RSI and the Stochastic oscillator. Therefore, some consolidation or an upside correction would not be surprising in the near -term. Yet, given the [..]

Market Comment – ISM non-mfg PMI highlights resilience of US economy

Posted on September 7, 2023 at 8:17 am GMT

US service sector unexpectedly gathers momentum ECB officials keep a hike for next week on the table BoE Gov. Bailey says they are ‘much nearer’ to rate peak Wall Street slides as ISM PMI stokes inflation worries Dollar receives boost from ISM non-mfg PMI The US dollar ended Wednesday virtually unchanged against most of the other major currencies, gaining decent ground only against the pound and the franc. The greenback got a strong boost after the ISM non-manufacturing PMI unexpectedly [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

GBPUSD

XM Live Chat