All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD tests critical 1.24 level; finds support at moving averages

Posted on February 27, 2017 at 8:55 am GMT

GBPUSD fell close to a 2-week low in Asian trading today to touch 1.2390 after spiking below the 100-day moving average (MA). The intra-day bias is to the downside, with important support being provided by the 50-day MA. The RSI has dipped below 50, indicating risk is to the downside. The medium-term outlook is neutral as the pair has been trading sideways since January 23. The market has been testing the key 1.2400 level, which has acted as a support [..]

Asian Session – Dollar lacks momentum ahead of Trump speech; Pound falls on Scottish referendum talk

Posted on February 27, 2017 at 7:42 am GMT

Sterling was the worst performing major currency in the Asian session today on reports of a possible Scottish independence vote. The dollar lacked momentum ahead of a raft of US economic data and speeches by President Donald Trump and Federal Reserve Chair Janet Yellen this week. The pound dipped as much as 0.6 percent against the dollar to touch a session low of 1.2390 after a Times newspaper report said UK Prime Minister Theresa May could agree to a new [..]

European Session – Trump reflation trade in doubt again, dollar slightly down

Posted on February 24, 2017 at 4:34 pm GMT

Barring Canadian inflation data, US new home sales, and the final print of the University of Michigan consumer sentiment index there were no important economic data releases hitting the markets today. Market participants were for the most part digesting developments in the political scene and placing positions accordingly. The dollar has gained significantly on expectations of fiscal reforms by the Trump administration. However, US Treasury Secretary Steven Mnuchin’s latest comments on expecting tax reforms to start benefitting the economy next [..]

European Session – Dollar picks up ahead of FOMC minutes; yen outperforms; pound weighed by data

Posted on February 22, 2017 at 3:18 pm GMT

The US dollar was stronger against most major currencies except against the yen, which broadly outperformed. The euro was weak on French election jitters. The main focus of the markets was on the upcoming FOMC minutes. The euro hit a fresh one month low against the dollar at 1.0493 after dipping below the key 1.05 level for the first time in six-weeks. The single currency was pressured mainly by political developments rather than by economic data. Concerns over the upcoming French [..]

FX Daily Outlook | 22-02-17

Posted on February 22, 2017 at 10:00 am GMT

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Technical Analysis – GBPUSD looking neutral in the short-term

Posted on February 22, 2017 at 8:04 am GMT

GBPUSD is up from the day’s open. Should it finish the day higher it will mark the third straight day of gains for the pair. The RSI indicator is currently close to the 50 neutral level at 52. It’s been hovering in this area throughout the last number of days of relatively low intra-day volatility for the pair. The middle Bollinger line (a 20-day moving average) comes into view as immediate resistance to upside moves. Should this level be breached, [..]

European Session – Euro falls despite robust PMI numbers; Dollar broadly stronger

Posted on February 21, 2017 at 4:34 pm GMT

The most important economic releases for the day pertained to flash PMI estimates out of the Eurozone and the US, whilst the day had important central bank figures, such as the Bank of England’s Governor Mark Carney, appearing for a speech. The US dollar was gaining across the board today on rising expectations of a March Fed rate hike. The dollar gained against all six currencies that make up the dollar index as the index rose to 101.49, marking a [..]

European Session – Pound up as Lords begin Brexit bill debate; Dollar range-bound in holiday-thinned trading

Posted on February 20, 2017 at 3:46 pm GMT

The US dollar was stuck in a tight range on Monday as markets struggled for direction in the absence of any major data releases and with US markets closed for President’s Day holiday. Having moved away from Friday’s one-week lows in Asian trading, the greenback flat-lined against the yen in today’s European session to hover around 113.10 yen. Traders ignored solid economic indicators out of the US last week, as well as a more hawkish Yellen, to drive US treasury [..]

FX Daily Outlook | 20-02-17

Posted on February 20, 2017 at 9:47 am GMT

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European Session – Dollar mixed ahead of US long weekend; Pound hit by weak retail sales data

Posted on February 17, 2017 at 3:07 pm GMT

Risk appetite faded on the week’s last trading day as political uncertainty in Europe and the US weighed on investor sentiment. The US dollar was mixed in today’s European session as it fell against the yen but moved higher against most other majors, in particular the euro and the pound. This made the yen the best performing currency of the day as it benefited from its safe haven status. The dollar index, which gauges the greenback’s strength against the currencies [..]

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