All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD is neutral as the 6-month high puts up a real struggle

Posted on January 31, 2023 at 7:39 am GMT

GBPUSD failed several times over the last one-and-a-half months to surpass above the six-month high of 1.2450 and is struggling to create a new high. The pair remains above the medium-term ascending trend line and the short-term SMAs, awaiting a strong boost for further gains. However, the MACD is weakening near its trigger line in the positive area, while the RSI is moving sideways above the neutral threshold of 50. An extension to the upside and above the 1.2450 key [..]

Technical Analysis – GBPUSD flatlines near December’s high

Posted on January 27, 2023 at 1:15 pm GMT

GBPUSD entered a tight range following the pullback from December’s high of 1.2445 on Monday. The weakening momentum in the RSI and the MACD is currently reflecting some hesitancy among buyers, though with the 1.2320 support area remaining intact, the bulls could make another attempt to climb the 1.2445 wall. If they succeed this time, the price may advance towards May’s resistance zone of 1.2665, while the ascending line drawn from record lows could also attract special attention at 1.2750. Should the 1.2800 psychological [..]

Week Ahead – Fed, ECB, and BoE rate decisions on the menu

Posted on January 27, 2023 at 11:25 am GMT

A busy week lies ahead, featuring several central bank decisions and a stream of data releases. The Fed is set to raise rates at a slower pace as inflation has started to cool down, putting the emphasis on Powell’s commentary. Meanwhile, market pricing suggests the ECB and BoE will roll out bigger rate increases than the Fed, before the week concludes with the latest US employment report. Dollar awaits Fed update It’s been a difficult few months for the US [..]

Daily Market Comment – Wall Street jumps ahead of key earnings and data

Posted on January 24, 2023 at 10:32 am GMT

Tech stocks surge as S&P 500 closes above 4,000, all eyes on Microsoft Euro eases off highs amid signs of ECB divisions, mixed PMIs also weigh Dollar struggles as Fed bets trimmed, gold hits fresh highs Wall Street bulls fire up ahead of tech earnings Growing hopes that the Fed will soon call time on its aggressive rate-hiking campaign continued to feed optimism in equity markets, pushing the S&P 500 above the 4,000 level on Monday. US stocks staged a [..]

Technical Analysis – GBPUSD stays bullish near December’s high

Posted on January 24, 2023 at 8:40 am GMT

GBPUSD could not find enough buyers to pierce through December’s high of 1.2445, finishing Monday’s session with mild losses at 1.2375. The bulls, however, may not give up the battle, as the clear positive trajectory in the RSI and the MACD mirrors persisting buying interest. Yet, with the Stochastic oscillator flattening within the overbought region above 80, some caution is required. In other encouraging signals, the 50- and 200-day simple moving averages (SMAs) have logged a golden cross recently for the first time [..]

Daily Market Comment – Fed signals downshift, lifting Wall Street, but dollar sags

Posted on January 23, 2023 at 10:47 am GMT

Fed officials warm up to 25-bps rate hikes, cheering equity markets But dollar takes a hit, stands firm only against sinking yen Euro powers on as ECB hawk puts foot down, flash PMIs eyed Fed enters blackout with a nod to slower hikes Trading got off to a quieter start on Monday, as China and other major markets in Asia are closed for the Lunar New Year celebrations, and Friday’s risk rally lost some steam, but the positive sentiment continued [..]

Week Ahead – BoC may hike one final time; Will flash PMIs spread gloom or optimism?

Posted on January 20, 2023 at 10:20 am GMT

As 2023 gets underway, so do the central bank meetings and the Bank of Canada will be the next after the BoJ to announce its first policy decision of the year. Meanwhile, investors will be nervously awaiting the first PMI readings of 2023 next week as they juggle to reach a consensus about the recessionary risks. In the United States, there will additionally be the advance GDP estimates for the final quarter of 2022, as well as PCE inflation data. [..]

Technical Analysis – GBPUSD edges higher after completing golden cross

Posted on January 17, 2023 at 8:23 am GMT

GBPUSD has been attempting a rebound since September when the pair recorded an all-time low of 1.0324. Even though the price experienced a minor pullback after its advance got rejected at 1.2445, the recent completion of a golden cross between the 50- and 200-day simple moving averages (SMAs) has induced upside pressure. The short-term oscillators currently suggest that bullish forces are reigning supreme. Specifically, the RSI is hovering above its 50-neutral mark, while the MACD histogram is strengthening above both zero and its [..]

Technical Analysis – GBPUSD edges lower, battles with upward trendline

Posted on January 16, 2023 at 2:01 pm GMT

GBPUSD is edging lower as the new trading week gets underway. The pair has enjoyed a decent rebound since January 6, in line with the bullish medium-term trend since September 26. It is currently battling with the September 28 upward trendline. This move seems to be endorsed by several factors. The popular golden cross between the 50- and 200-day simple moving averages (SMA) occurred on January 12 and both the RSI and stochastic appear supportive. The former trades above 50 and the latter [..]

Week Ahead – Will the Bank of Japan roll out another surprise?

Posted on January 13, 2023 at 11:09 am GMT

A volatile week awaits FX traders, featuring the first Bank of Japan decision of the year. It’s a close call whether policymakers will adjust their yield strategy once again, although even if they don’t, it’s probably only a matter of time. There’s also a deluge of data releases from the major economies. Tough decision for BoJ The Bank of Japan shocked financial markets last month when it raised the ceiling on long-term Japanese yields, a decision that turbocharged the yen. [..]

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