All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD retains bullish bias above 200-day SMA

Posted on December 8, 2022 at 1:25 pm GMT

GBPUSD is finding strong support at the 200-day simple moving average (SMA) near 1.2120 after the pullback from the five-month peak of 1.2343. The MACD oscillator continues to rise near its trigger line and above the zero line, while the RSI remains above its neutral level of 50 but shows signs of slowing. Confirming the recent trend is the rising slope of the 20- and 40-day SMAs. In the event of a short-term reversal, the bears are likely to test [..]

Technical Analysis – GBPUSD declines from 5-month high, but outlook is still bullish

Posted on December 6, 2022 at 9:10 am GMT

GBPUSD retreated from the fresh five-month high of 1.2343 that was posted on Monday, returning back near the previous support at 1.2160 around the 200-day simple moving average (SMA). In the short-term the bias turned bullish, and more increases may switch the broader outlook to positive as well. From a technical perspective, the MACD oscillator is still gaining momentum above its trigger and zero lines, while the RSI is holding above the neutral threshold of 50 but it seems to [..]

FX year ahead 2023: Recessions and trend reversals – Special Report

Posted on December 5, 2022 at 3:01 pm GMT

The US dollar steamrolled every other major currency this year, capitalizing on a perfect storm of widening interest rate differentials, safe-haven flows, and an absence of attractive alternatives. This ferocious rally could extend into next year, as most economies will likely fall into recession long before the US does. Nonetheless, the second half of the year might see a reversal in this trend. Could the yen come from behind to be the winner of 2023, in case the dollar rally [..]

Daily Market Comment – NFP awaited as Fed rate hike bets cool, dollar plunges

Posted on December 2, 2022 at 10:19 am GMT

Dollar resumes slide as US yields tumble after soft inflation and PMI data But Wall Street rally takes a breather amid some caution ahead of NFP report Yen surges to 3½-month high, weighs on Nikkei, as BoJ speculation intensifies ISM PMI revives hopes of early Fed pivot Treasury yields slipped sharply on Thursday, hitting multi-week lows, after closely watched gauges for the United States pointed to a slowing economy. The Fed’s favourite inflation tracker – the core PCE price index [..]

Technical Analysis – GBPUSD stays above short-term uptrend line

Posted on November 30, 2022 at 1:55 pm GMT

GBPUSD traded slightly lower on Monday, after it hit resistance near the 1.2145 barrier and the 200-day exponential moving average (EMA) at the end of last week. Overall, the pair continues to trade above the prior downtrend line taken from the high of February 20, and above the short-term term uptrend line drawn from the record low of September 26. This keeps the chances for another leg north well on the table. However, our daily oscillators are suggesting that some further declines [..]

Technical Analysis – GBPUSD needs break above 200-SMA

Posted on November 29, 2022 at 8:59 am GMT

GBPUSD finished Monday’s session on the negative side, unable to climb above the 200-day simple moving average (SMA) at 1.2145 once again; the line has been acting as a crucial ceiling to upside movements since September 2021. The positive structure of higher highs and higher lows in the short-term picture remains valid, backed by the bullish cross between the 20- and 50-day SMAs. Encouragingly, the momentum indicators are still in favor of the bulls despite the latest retreat in the price. The RSI is [..]

Daily Market Comment – Risk-on takes a hit as China protests spark unease

Posted on November 28, 2022 at 9:54 am GMT

Yen jumps, yields slip as anti-lockdown protests in China dent sentiment Oil slumps to one-year low amid rising concerns about Chinese demand Stocks start the week in the red as NFP and other crucial data eyed Growing protests in China rattle markets Risk assets took a knock at the start of the week as worries about instability in China and how the country’s unyielding zero-Covid policy might further blight the outlook led investors to search for safety. Anti-lockdown protests started [..]

Week Ahead – Decisive week for the dollar as PCE inflation and NFP reports coming up

Posted on November 25, 2022 at 1:36 pm GMT

After the Thanksgiving downtime that generated some further weakness for the greenback, investors will be looking for fresh direction from the barrage of US economic data that will be dominating the agenda in the coming week. The latest payrolls report will be the main attraction along with PCE inflation readings. CPI data out of Australia, the Eurozone and Switzerland as well as Canadian GDP numbers will be important too, while OPEC’s monthly decision will be another one to watch amid [..]

Technical Analysis – GBPUSD lies near 1.2000, suggesting more gains

Posted on November 23, 2022 at 2:30 pm GMT

GBPUSD is rising towards the 1.2000 handle, remaining well above the short-term uptrend line. The MACD oscillator is moving above its trigger and zero lines, while the RSI is heading north in the positive region, both confirming the recent upside structure. The bullish crossover within the 20- and the 50-day simple moving averages (SMAs) is also a sign of improvement. If the buying interest persists and the price successfully surpasses the 1.2000 handle, the 200-day SMA at 1.2180 may halt [..]

Daily Market Comment – Risk assets rally ahead of Fed minutes, RBNZ lifts kiwi

Posted on November 23, 2022 at 9:52 am GMT

Retreat in the dollar and yields helps fuel risk appetite Stock markets rally, kiwi jumps after RBNZ decision European PMIs paint grim picture, Fed minutes next Risk appetite returns Investors went on a shopping spree on Tuesday, raising their exposure to riskier assets without any clear news catalyst behind this sudden shift in sentiment. The S&P 500 closed at its highest levels since mid-September as implied volatility collapsed, with a pullback in the dollar and real yields helping to fuel [..]

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