All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD opens with bullish gap near 1.1700

Posted on September 12, 2022 at 1:07 pm GMT

GBPUSD is extending last week’s rebound off the 1.1400 number, which is a multi-year low, and opened today with a bullish gap. The RSI turned higher after entering oversold zone and is currently approaching the neutral threshold of 50. The bias in the very-short-term also looks bullish as indicated by the MACD, which jumped above its trigger line and is stretching higher below the zero level. On the upside, resistance could occur around the 20-day simple moving average (SMA) at [..]

UK inflation to accelerate; What does this mean for the pound? – Forex News Preview

Posted on September 12, 2022 at 10:03 am GMT

The UK has been in the spotlight recently, with Liz Truss becoming the nation’s new prime minister last Monday, and Queen Elizabeth passing away on Thursday. Although the BoE gathering – initially scheduled for Thursday – was postponed for next week due to the queen’s death, pound traders have good reason to stay in front of their screens this week as well, as on Wednesday at 06:00 GMT, UK inflation data for August is coming out. UK inflation expected to [..]

Week Ahead – US inflation on the menu, BoE postpones meeting

Posted on September 9, 2022 at 9:40 am GMT

Another pivotal week lies ahead for currency traders, with the latest US inflation report set to decide whether the dollar’s relentless rally will finally cool off. Meanwhile, the Bank of England rate decision has been postponed for September 22, as the nation mourns the passing of Queen Elizabeth II. Sterling remains in the hands of global forces. Inflation cooldown It’s been a glorious year for the US dollar so far. The reserve currency is essentially the only asset that has [..]

Daily Market Comment – Yen warnings, hawkish ECB knock down US dollar

Posted on September 9, 2022 at 9:26 am GMT

Yen slide takes a pause after Japanese officials sound alarm bells Powell out-hawks Lagarde but euro catches a bid on broader dollar pullback Pound rebounds too as Britain mourns the passing of Queen Elizabeth II Wall Street extends recovery ahead of the Fed blackout period Yen intervention scare sparks dollar profit-taking The Japanese yen rallied against the US dollar on Friday after Bank of Japan Governor Haruhiko Kuroda joined in the chorus of alarm voiced by senior officials from the [..]

What does Liz Truss mean for the UK economy and the pound?

Posted on September 9, 2022 at 7:49 am GMT

The UK entered a new era on September 5, as Liz Truss became the nation’s new prime minister. With inflation in the UK in the double digits for the first time in 40 years, the real disposable income for households has slumped to the lowest since we have data for, and therefore, frantic citizens may be biting their nails in anticipation of whether Truss’s new policies will indeed relieve them from the pain of prohibitively high consumer prices. Relief from [..]

Daily Market Comment – Euro eyes jumbo ECB rate hike; pound awaits Truss’ energy plan

Posted on September 8, 2022 at 9:35 am GMT

Softer dollar bolsters euro as ECB anticipated to frontload rate hikes But pound remains pressured amid angst about Truss’ energy bailout Aussie dips after RBA’s Lowe makes dovish tilt; loonie firmer after BoC Wall Street in surprise bounce back as yields and oil prices take a plunge Euro flirts with parity ahead of ECB decision The energy crisis and the pace of monetary tightening look set to dictate market sentiment once again as a busy day looms with a policy [..]

Technical Analysis – GBPUSD turns green near pandemic low

Posted on September 6, 2022 at 9:31 am GMT

GBPUSD charted a 30-month low just above the pandemic low of 1.1408 on Monday before turning green for the first time after a week. The price managed to rise as high as 1.1600 earlier today and although some recovery could take place in the near term given the oversold conditions in the market as reflected by the RSI and the stochastics, it is too early to hope for a meaningful rally. The indicators are still stuck in the bearish area, while the pair itself still has [..]

Daily Market Comment – Pound gains in aftermath of UK PM election; euro rebounds as well

Posted on September 6, 2022 at 8:10 am GMT

Sterling wakes up as Truss’s plans could fuel inflation Euro rebounds as well after hitting a two-decade low RBA lifts rates by 50bps and hints neutrality Asian shares cheer China’s pledge for more action Pound outperforms after new UK Prime Minister elected The US dollar took a break at some point yesterday, with the dollar index pulling back after hitting a new two-decade high of 110.23. The currency that benefited the most from the dollar’s breather was the British pound. [..]

Technical Analysis – GBPUSD rises after diving to fresh 30-month low

Posted on September 5, 2022 at 1:01 pm GMT

GBPUSD is bouncing off the new 30-month trough of 1.1440 after six consecutive red days. The downside movement in the RSI and the slowdown in the MACD justify the diminishing selling pressure, keeping the long-term risk skewed to the downside. The MACD is comfortably within the negative territory and below its red signal line, losing some steam, while the RSI is holding in the oversold zone. Should selling forces strengthen, the 1.1410 support, registered in March 2020, will come under the [..]

Daily Market Comment – Gas crisis sinks euro and stocks, pound downbeat ahead of new PM choice

Posted on September 5, 2022 at 9:09 am GMT

Euro plunges again after Russia further cuts gas supplies to Europe Energy crisis and rate hike fears scupper equities’ rebound attempt Pound hits fresh 2-year low as pressure builds before Tories unveil their new leader Oil bounces back ahead of OPEC+ decision amid output cut speculation Europe’s energy woes deepen ahead of ECB meeting The euro slid below the $0.99 mark on Monday, brushing its lowest point against the US dollar since December 2002, as fears of energy shortages intensified [..]

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