All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD within tight range after advance pauses near 1.2000

Posted on November 22, 2022 at 8:05 am GMT

GBPUSD has been stuck in a prolonged downtrend since the beginning of the year, plummeting to an all-time low of 1.0324 in mid-September. Nevertheless, the pair has exhibited signs of recovery in the short term, which has currently come to a halt near the 1.200 region. The short-term oscillators are currently indicating a cautiously bullish near-term tone. Specifically, the RSI is hovering above its 50-neutral mark, while the MACD histogram is flat above both zero and its red signal line. [..]

Week Ahead – Fed minutes, RBNZ decision, and business surveys on tap

Posted on November 18, 2022 at 12:00 pm GMT

Another busy week is coming up for FX markets, featuring the minutes of the latest FOMC meeting and a rate decision in New Zealand that investors are split on. Most importantly, business surveys from the major economies will reveal whether US inflationary pressures continue to cool off and whether Europe is already in recession. Dollar loses its shine Signs that US inflation is finally simmering down dealt a heavy blow to the US dollar lately, as traders unwound bets that [..]

Daily Market Comment – Markets steady despite Fed pivot hopes disappearing over the horizon

Posted on November 18, 2022 at 10:31 am GMT

Dollar bolstered but gains limited after Bullard calls for Fed rate to hit at least 5% Higher Treasury yields pressure Wall Street but rebound already underway Yen shrugs off Japanese CPI jump, pound wobbles on gloomy UK budget Fed ratchets up hawkish rhetoric The bombardment of hawkish talk from Fed officials continued to set the tone on Friday, as the week ends on a somewhat more sombre tone than from how it started. Hopes that slowing inflation will allow the [..]

Daily Market Comment – Hawkish Fed, strong data ease dollar’s pain; pound buoyant ahead of budget

Posted on November 17, 2022 at 10:11 am GMT

Dollar regains some footing as Fed officials again rule out early pivot Upbeat retail sales, warning from chip makers also dampen sentiment, stocks slip Pound extends gains despite fears Autumn statement will usher in austerity era Fed dashes hopes of a pivot The US dollar was steadier but still near this week’s lows on Thursday following the Fed’s latest concerted effort to extinguish market speculation of an imminent dovish pivot. Markets have been in a sanguine mood since last week’s [..]

Technical Analysis – GBPUSD fails to hold near the 3-month peak

Posted on November 16, 2022 at 3:04 pm GMT

GBPUSD is turning the short-term picture to bullish, by breaking above its daily moving averages (MAs) and the long-term descending trend line. On Tuesday, prices reached a new high of 1.2028, marking a three-month high, and all technical indicators are pointing to additional upward momentum going forward. A rising MACD oscillator with increasing positive momentum above its trigger and zero lines is suggesting further bullish potential. The RSI is trending slightly up, but it hasn’t quite reached the overbought 70 mark. The [..]

Daily Market Comment – Dollar extends slide after PPI data, does not stabilize on geopolitics

Posted on November 16, 2022 at 9:35 am GMT

US PPI numbers support the case of a less aggressive Fed Missile blast in Poland kills two near border with Ukraine Asian stocks slide, but US futures point to higher open on Wall Street UK inflation surges by a full percentage point in October Dollar slides as PPI numbers support slower Fed hikes The US dollar continued trading lower throughout most of Tuesday, finishing the day down against all but one of the other major currencies, despite a late rebound [..]

Daily Market Comment – Dollar resumes slide, pound awaits CPI data and budget

Posted on November 15, 2022 at 9:19 am GMT

Dollar under pressure after Brainard’s comments Pound traders turn gaze to inflation and fiscal agenda Wall Street closes in the red despite gains elsewhere Dollar comes back under pressure The US dollar traded higher against all but two of the other major currencies on Monday, helped by remarks from Fed Governor Christopher Waller, who warned that the Fed would not “soften” its fight against inflation, although they may consider slowing the pace of their future rate increases. That said, the [..]

Technical Analysis – GBPUSD remains slightly below the 2½-month peak

Posted on November 15, 2022 at 8:38 am GMT

GBPUSD is looking bullish in the short term after surging above its daily moving averages (MAs) and the long-term descending trend line. Prices hit a two-and-half-month high of 1.1853 on Friday, and the technical indicators are all pointing to further positive momentum in the near term. The MACD oscillator is heading upwards, strengthening its positive momentum above its trigger and zero lines, suggesting plenty of scope for additional upside moves. The RSI is moving slightly sideways into bullish territory but [..]

Daily Market Comment – Fed’s Waller tempers rate pause bets, relief rally cools

Posted on November 14, 2022 at 10:40 am GMT

Dollar and yields edge up after Waller says Fed not done with rate increases But stocks evade sharp selloff as China property bailout adds to optimism Cryptos off lows despite FTX hack, gold pares gains, oil stays cautious Fed dampens hopes of early pause The US dollar got off to a steadier start on Monday and stocks were mixed after a top Fed official played down the significance of last week’s softer-than-expected CPI report in overnight comments. Speaking at an [..]

Pound traders turn gaze to UK inflation data and budget announcement – Forex News Preview

Posted on November 11, 2022 at 2:44 pm GMT

Despite the UK economy contracting by less than expected in Q3, investors continued to scale back their BoE rate-hike bets. However, they may have to reexamine those bets next week, as the economic agenda includes the employment report for September on Tuesday at 07:00 GMT, the inflation numbers for October on Wednesday at the same time, and the Autumn Statement on Thursday. The time has yet to be confirmed, but such announcements tend to be delivered at around 12:30 GMT. [..]

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