All Articles Tagged - GBPUSD

Week Ahead – Spotlight turns to pound and non-US data after dollar bruising

Posted on November 11, 2022 at 1:15 pm GMT

After another US inflation surprise, CPI data will be dominating the agenda in most other markets in the coming week, shifting the focus away somewhat from the greenback. The pound will likely attract the most attention in what will be a busy week for the United Kingdom, as apart from the economic releases, the budget statement will be watched amid lingering worries about high borrowing. Growth indicators will be important in China and Japan, while in the United States, the [..]

Technical Analysis – GBPUSD meets downtrend line again above 1.1500

Posted on November 10, 2022 at 2:33 pm GMT

GBPUSD tested the long-term descending trend line several times and failed to jump above it to continue the bullish correction in the short-term. The pair returned near the short-term simple moving averages (SMAs) with the MACD oscillator losing momentum beneath its trigger line. However, the RSI is pointing slightly up near the 50 level. Should the market extend losses, support could be met between the 1.1150 barrier and the 1.0910 bottom. A significant leg below this area could send prices [..]

Is the UK economy one step closer to recession? – Forex News Preview

Posted on November 9, 2022 at 2:57 pm GMT

Following last week’s dovish triple hike by the Bank of England, pound traders are now likely to turn their attention to the first estimate of the UK GDP for Q3 due out on Friday at 07:00 GMT. Expectations are for the Office for National Statistics to confirm the BoE’s forecast of a contraction, but the big question is, how will the outcome affect market speculation with regards to the Bank’s future course of action and how will the pound react? [..]

Technical Analysis – GBPUSD aims for bullish breakout

Posted on November 8, 2022 at 8:30 am GMT

GBPUSD returned to test February’s crucial descending trendline near 1.1535 after two strong consecutive bullish days. The positive intersection between the 20- and 50-day simple moving averages (SMAs), if sustained, could increase hopes for a bullish trend reversal. In other encouraging signs, the RSI keeps hovering above its 50 neutral mark and the stochastics have changed course to the upside. Yet, the MACD has yet to climb above its red signal line, suggesting that further improvement is needed to confirm a bullish bias. [..]

Week Ahead – Brace for US midterm elections and inflation data

Posted on November 4, 2022 at 10:54 am GMT

There are only a handful of events next week but they will be crucial for markets. A divided Congress is the most likely outcome when Americans go to the ballots, setting the stage for two years of political deadlock. Meanwhile, the latest US inflation data will decide the pace of future Fed rate increases and by extension, the dollar’s fortunes. US midterms A mid-cycle election in the United States on Tuesday will serve as an appetizer ahead of Thursday’s critical [..]

Daily Market Comment – Stocks pare post-Fed losses ahead of NFP on China hopes; BoE sinks pound

Posted on November 4, 2022 at 10:22 am GMT

Dollar off highs, stocks turn positive as China reopening chatter lifts mood But NFP report could bring Fed tightening fears back into the fore Pound left reeling after BoE hikes big, warns of long recession Hopes of China reopening ease Fed gloom The run-up to the Fed meeting and its aftermath was a rollercoaster ride that didn’t end well for stocks. Investors hoping for a dovish pivot instead got a Fed chief leaning further towards the hawkish end of the [..]

Daily Market Comment – Powell lifts the dollar; BoE takes the central bank torch

Posted on November 3, 2022 at 9:31 am GMT

Fed hints slower hikes, but Powell says rates will go higher Dollar gains, Wall Street falls as investors lift terminal rate BoE expected to hike by 75bps, biggest increment since 1989 Fed Chair Powell appears in hawkish suit Thursday was a resurrection day for the US dollar, which finished the day higher against all the other major currencies and continued marching upwards today as well. The driver was Fed Chair Jerome Powell, who appeared more hawkish than expected, especially after [..]

Technical Analysis – GBPUSD moves sideways near downtrend line

Posted on November 2, 2022 at 1:27 pm GMT

GBPUSD is hovering near the downtrend line and the 1.1490 support level. The price has failed to improve the bullish structure; however, the 20- and 50-day simple moving averages (SMAs) are ready for a bullish crossover. The MACD oscillator is losing momentum in the positive region, while the RSI is flattening above the 50 level. In the event the bulls take control, the 1.1750 resistance will come first into view. An upside violation of this level could see another challenging battle around the 1.1890-1.2000 restrictive [..]

Bank of England might disappoint amid uncertainties about the budget – Forex News Preview

Posted on November 2, 2022 at 10:46 am GMT

The Bank of England will announce its latest policy decision on Thursday at 12:00 GMT in what will be its first gathering since the mini-budget debacle that sparked turmoil in global financial markets. Expectations of a super-sized rate hike have come down sharply as the panic has receded. Nevertheless, economists as well as investors are still anticipating a big enough move of 75 basis points that would mark the steepest rate increase in 33 years. But is there a chance [..]

Daily Market Comment – Stocks climb, dollar dips as Fed anticipation builds

Posted on November 1, 2022 at 10:27 am GMT

Markets see-saw as speculation that Fed is nearing peak rates goes into overdrive Stocks turn positive, dollar retreats as some optimism returns, US data eyed RBA sticks with 25-bps hike, but aussie gains on China zero-Covid exit rumours Markets struggle for direction in wait for Fed decision Traders continued to weigh the odds of the Federal Reserve signalling an end to the run of jumbo-sized rate increases as the central bank begins its two-day monetary policy meeting on Tuesday. Hopes [..]

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