All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD hovers within short-term SMAs

Posted on March 16, 2023 at 1:57 pm GMT

GBPUSD has been easing over the last couple of sessions, holding within the 20- and the 50-day simple moving averages (SMAs). The MACD oscillator is failing to suggest any direction as it is flattening near the zero level, while the stochastic dropped from the overbought region after the bearish cross within its %K and %D lines. The pair may touch 1.2270 if there is a rebound off the 20-day SMA. After breaking through this barrier, the bulls may try for [..]

Daily Market Comment – Markets rebound, then falter as fears grow over Credit Suisse

Posted on March 15, 2023 at 10:31 am GMT

SVB contagion fears continue to recede, spurring a global rebound in stock markets But the mood sours again as Credit Suisse shares sink, euro skids Treasury yields make a partial recovery, Fed rate hike path steepens only slightly US CPI not much help to wounded dollar as focus turns to ECB decision Risk appetite on the mend but new risks arise Investor jitters following the biggest US bank failures since the 2008 financial crisis abated further on Tuesday as a [..]

Daily Market Comment – Bank stocks pummelled but some calm restored ahead of US CPI

Posted on March 14, 2023 at 10:08 am GMT

Financial stocks remain pressured but broader selloff eases as panic subsides US inflation in the spotlight after sharp repricing of Fed rate hikes Gold and cryptos softer after surge, yields steadier, dollar edges up Bank rout turns global but wider equities rebound Equity markets were showing some signs of life on Tuesday following a brutal selloff in the preceding days that was led by a plunge in banking stocks triggered by the collapse of SVB and Signature Bank. Emergency measures [..]

Technical Analysis – GBPUSD hovers around 50-SMA as advance falters

Posted on March 14, 2023 at 9:35 am GMT

GBPUSD had been on a steady decline after its upside movement got rejected twice at the 1.2445 region. However, the pair has been gaining ground in the last few daily sessions, with the price jumping above its 50-day simple moving average (SMA) before paring some of its gains. The momentum indicators currently suggest that near-term risks remain tilted to the upside. Specifically, the RSI has flatlined above its 50-neutral mark, while the stochastic oscillator is sloping upwards near its 80-overbought [..]

Week Ahead – US inflation, ECB decision to test markets’ nerve

Posted on March 10, 2023 at 12:16 pm GMT

The US inflation report and the European Central Bank’s policy meeting will share the limelight next week amid another round of ratcheting up of rate hike expectations by investors. Other critical data such as Chinese industrial output, Australian employment and New Zealand GDP estimates might thus get overshadowed. Meanwhile in the UK, it’s budget time again, although the event is not expected to generate as much volatility as last time. CPI report could make the case for 50-bps hike There’s [..]

Technical Analysis – GBPUSD meets lower boundary of trading range

Posted on March 8, 2023 at 1:49 pm GMT

GBPUSD came under an aggressive selling interest during yesterday’s session, meeting the lower boundary of the medium-term trading range at 1.1840. Also, the market slipped beneath the 200-day simple moving average (SMA), indicating that the outlook may turn bearish. The MACD oscillator is strengthening its bearish momentum beneath its trigger and zero lines, while the stochastic is approaching the oversold territory. Should the market extend losses, support could be met at the 38.2% Fibonacci retracement level of the upward wave [..]

UK data could further ease recession fears, but can it lift the pound? – Forex News Preview

Posted on March 7, 2023 at 9:06 am GMT

Economic output stats for January will kick off this month’s data releases for the UK on Friday (07:00 GMT), providing investors fresh clues on whether the British economy is still teetering on the edge of a recession. Recent indicators suggest that the outlook has brightened slightly, but the Bank of England nevertheless is undecided about how much further it will have to tighten policy. Subsequently, the pound has been somewhat adrift lately. Can the data provide traders with some direction? [..]

Technical Analysis – GBPUSD lacks bullish conviction; resistance at 1.2045

Posted on March 7, 2023 at 8:15 am GMT

GBPUSD is making another attempt to climb the constraining 20-day simple moving average (SMA) at 1.2045, which has been capping bullish actions over the past week. Although the pair seems to have secured a strong footing near January’s support area, where the 200-day SMA and the 23.6% Fibonacci retracement of the 1.0324-1.2445 upleg are positioned, the technical indicators have yet to show meaningful improvement. The RSI is sloping upwards, but it has yet to breach its neutral trajectory above its [..]

Daily Market Comment – Dollar slips from highs ahead of ISM services as stocks defy soaring yields

Posted on March 3, 2023 at 10:11 am GMT

Dollar eases from highs as yields rally pauses for breath ahead of ISM services PMI But Wall Street bounces back as Fed officials hint at ‘steady as she goes’ approach Euro fights back as ECB hawkish soundbites keep coming, yen mixed on BoJ doubts Supercharged bond yields take a breather Government bond yields in Europe and the United States scaled new heights this week as investors were once again caught off guard by fresh evidence of persisting inflationary pressures. Most [..]

Will Sunak’s deal put the Brexit row to bed? – Forex News Preview

Posted on March 2, 2023 at 2:31 pm GMT

Rishi Sunak is making his first Brexit debut in efforts to resolve the long-running dispute with the EU over trade rules in Northern Ireland. While hopes for a new breakthrough pushed the British pound in the green territory this week, the reaction was relatively modest, suggesting that investors are being prudent by waiting for more clarity to drive the currency higher. Yet, the uncertain global economic and geopolitical risks could make the opposition compromise, suggesting that Sunak has likely chosen the right [..]

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