All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD extends dive towards new multi-year low

Posted on September 23, 2022 at 10:58 am GMT

GBPUSD is posting an aggressive bearish movement over the last few sessions, recording a new multi-year low of 1.1186. The price is flirting with the return line of the long-term downward sloping channel with the technical indicators confirming the selling interest. The MACD is standing below its trigger and zero lines, while the RSI is falling in the oversold region. A continuation of the sell-off, could drive the price towards the 1.1100 round number, while even lower and a closing [..]

Daily Market Comment – Yen skyrockets after intervention; SNB and BoE hike by less than expected

Posted on September 23, 2022 at 8:21 am GMT

Japan intervention boosts yen, but will the effect last? Franc tumbles as SNB hikes by 75 and not 100bps BoE sees economy falling into recession this quarter Equities extend tumble, yields climb higher Japan comes to the yen’s rescue; will it succeed? The US dollar finished Thursday’s session slightly higher or near its opening levels against most of the other major currencies, with the exceptions being the Japanese yen and the Swiss franc. Nonetheless, that doesn’t imply a quiet session [..]

Daily Market Comment – Fed hike, Powell’s recession warning roil markets; dollar shoots up

Posted on September 22, 2022 at 9:13 am GMT

Dot plot signals Fed not done with 75 bps hikes, Powell warns of pain ahead S&P 500 goes back into bear market, dollar destroys everything in its path Yen slips past 145 after BoJ doesn’t flinch, but jumps after intervention SNB hikes by 75 bps, BoE expected to follow suit, gold see-saws Fed declares war on inflation, spooks markets The Federal Reserve delivered its third consecutive 75-basis-point rate increase on Wednesday and flagged more sharp hikes in the remainder of [..]

BoE decision a close call to speed up rate hikes as worries mount – Forex News Preview

Posted on September 20, 2022 at 10:18 am GMT

The Bank of England will announce its September policy decision a week later than planned on Thursday (11:00 GMT) after the meeting had to be postponed until after the funeral of the late Queen Elizabeth II. As life in Britain returns to normal following a 10-day mourning period, policymakers are faced with the grim reality of a darkening economic outlook at a time when inflation is hovering around 10%. Markets are betting that the BoE might have to accelerate its [..]

Technical Analysis – GBPUSD could see further weakness; still strongly negative

Posted on September 20, 2022 at 6:29 am GMT

GBPUSD is holding above the multi-year low of 1.1350, remaining within the long-term descending channel. The technical oscillators are suggesting some positive movement in the short-term, with the MACD surpassing its trigger line in the negative region, while the RSI is standing above its 30 level. Moreover, the pair is still hovering well below the 20- and 50-day simple moving averages (SMAs). On the upside, the price could attempt to overcome the 20-day SMA at 1.1570 and retest the [..]

Daily Market Comment – Dollar reigns as big week for central banks kicks off

Posted on September 19, 2022 at 9:22 am GMT

Dollar starts Fed week on the front foot amid elevated rate hike expectations Bank of England and Swiss National Bank also poised to deliver large hikes Yen stays subdued as Bank of Japan not expected to join in Overtightening fears weigh on stocks, oil and gold slip too Markets brace for more tightening, led by Fed Trading got off to a cautious start on Monday, with equities still reeling from last week’s brutal selloff, while the US dollar kept advancing [..]

Week Ahead – Trouble spews for yen as Fed, BoE and SNB to hike, put spotlight on BoJ

Posted on September 16, 2022 at 11:37 am GMT

A crucial week is coming up for the markets as no less than four central banks are scheduled to announce their latest monetary policy decisions. There is a strong possibility of a 75-basis-point rate hike from the Federal Reserve, Bank of England, as well as the Swiss National Bank. The Bank of Japan, though, is expected to buck the trend, leaving the yen at the mercy of its rivals. However, the flash PMI estimates for September will be important too [..]

Technical Analysis – GBPUSD revisits pandemic lows as bears persist

Posted on September 16, 2022 at 8:14 am GMT

GBPUSD corrected forcefully to the downside early on Friday, breaking below the critical 1.1400 pandemic low, where the bears halted the 2022 downtrend on September 7. The MACD is extending its bearish wave below its red signal and zero lines in the four-hour chart, while the RSI and the stochastics are negatively charged near their oversold levels, suggesting a cautiously bearish bias. The channel’s lower boundary is now a target at 1.1343. A continuation lower could pause near the 1.1200 psychological [..]

Daily Market Comment – Hopes of softer inflation report lift Wall Street, hurt dollar

Posted on September 13, 2022 at 9:14 am GMT

Investors bet that August CPI data will confirm inflation has peaked in the US Wall Street rallies for a fourth day, dollar selloff accelerates Euro and pound maintain positive momentum despite doubts over energy plans Market optimism ahead of US CPI Risky assets were either extending or holding onto their gains on Tuesday as investors awaited the latest inflation report out of the United States due at 12:30 GMT. After last month’s bigger-than-expected drop in the annual CPI rate to [..]

Technical Analysis – GBPUSD bounces off 37-year low, downtrend intact

Posted on September 13, 2022 at 7:38 am GMT

GBPUSD has been in a prolonged downtrend since the beginning of the year, generating a clear structure of lower highs and lower lows. Although the pair managed to find its feet at the 37-year low of 1.1404 and recoup some losses, it is a long path ahead until it reverses its bearish long-term structure. The momentum indicators currently suggest a cautiously positive near-term tone. Specifically, the stochastic oscillator is ascending in the overbought area, while the MACD histogram has crossed above [..]

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