All Articles Tagged - GBPUSD

Week Ahead – ECB decision highlights central bank trifecta

Posted on September 2, 2022 at 11:21 am GMT

An action-packed week lies ahead, featuring central bank meetings in the Eurozone, Canada, and Australia, an output decision from the OPEC cartel, and the selection of the next UK prime minister. The ECB will likely steal the show, as policymakers seem prepared to roll out the big guns to defend the sinking euro. Euro squeeze? There has been a striking change in tone from the European Central Bank lately. Several officials have stressed the need to raise interest rates forcefully, [..]

Technical Analysis – GBPUSD dives to new 29-month low near 1.1550

Posted on September 1, 2022 at 1:18 pm GMT

GBPUSD tumbled to a fresh 29-month low of 1.1548 today, continuing the sell-off that started after the pullback off the 1.1890 level. The 20- and 50-day simple moving averages (SMAs) posted a bearish crossover in the preceding sessions, while the technical oscillators are confirming the bearish view as well. The MACD is signalling strengthening negative momentum below its zero and trigger lines, and the RSI is entering the oversold region. Should selling forces strengthen, the low from March 2020 at 1.1410 will come under the spotlight. [..]

Technical Analysis – GBPUSD turns bearish again in short term after dramatic slump

Posted on August 30, 2022 at 6:45 am GMT

GBPUSD has been underperforming over the past two days, meeting a new 29-month low at 1.1670. When looking at the bigger picture, the pair has been developing within a descending channel since February with the technical indicators confirming the bearish structure. The MACD oscillator is heading south below its trigger and zero lines, while the RSI is holding near the oversold territory. In trend indicators, the 20- and 40-day simple moving averages (SMAs) posted a bearish crossover and are following [..]

Technical Analysis – GBPUSD corrects higher, but stays in a downtrend

Posted on August 26, 2022 at 11:29 am GMT

GBPUSD traded higher on Friday, after hitting support at 1.1770. The pair has been printing higher lows since August 23, but it is still trading below the downtrend line drawn from the high of August 10, as well as below all the moving averages. This implies that the pair is in a corrective phase within a bigger downtrend. The oscillators suggest some further recovery before the bears take the reins again. The RSI is fractionally below 50, but it is [..]

Technical Analysis – GBPUSD stands above 29-month low but for how long?

Posted on August 24, 2022 at 12:36 pm GMT

GBPUSD slid to a new 29-month low of 1.1718 but it finished the day in the green. Today’s selling pressure raises the chance that the downtrend will continue lower as it is developing well below the short-term simple moving averages (SMAs) and the downtrend line. The RSI is holding neat the 30 line, which means it is close to being oversold, and the MACD is strengthening its negative momentum below its trigger and zero lines. Once the 1.1718 support breaks, [..]

Daily Market Comment – Euro/dollar slices below parity, stocks worried about Fed

Posted on August 23, 2022 at 8:47 am GMT

Deepening European energy crisis sends euro/dollar beneath parity Stronger US dollar helps the move amid bets for more assertive Fed Wall Street keeps sinking, tech leads the retreat as yields climb back Parity cracks A perfect storm has engulfed euro/dollar, which cracked below the famous parity level to trade at a new two-decade low thanks to a deepening energy crisis in Europe and a US dollar that has been supercharged by bets that the Fed might wrestle back control of [..]

Technical Analysis – GBPUSD inches to 29-month low; bears dominate

Posted on August 23, 2022 at 7:33 am GMT

GBPUSD inched to a new 29-month low of 1.1716 early on Tuesday, increasing the risk for a downtrend extension below July’s trough of 1.1758. The ongoing bearish correction follows the pullback from February’s resistance line. The RSI is close to its 30 oversold level and the stochastics are near spring’s lows, making a rebound in the price possible. Yet, as long as the indicators keep sloping downwards and the MACD gains negative momentum below its red signal line, the base scenario is [..]

Week Ahead – Will the Fed fire back at Jackson Hole?

Posted on August 19, 2022 at 10:34 am GMT

With the summer coming to a close, Fed officials will head to Jackson Hole for their annual symposium. Financial conditions have loosened lately despite the forceful rate increases, which is counterproductive for the central bank. If they push back, that could spell trouble for risk assets but good news for the dollar. Fed summer camp The top brass of the Federal Reserve will head to the central bank’s summer retreat in Jackson Hole, Wyoming on Thursday to discuss monetary policy. [..]

Daily Market Comment – Dollar roars higher, stocks muted amid Fed uncertainty, recession risks

Posted on August 19, 2022 at 9:27 am GMT

Dollar stretches weekly gains, hits 1-month high, on Fed talk, dimming outlook Wall Street headed for flat week as growth worries keep optimism in check Gold and oil set to end week on the backfoot, but gas prices hold near highs Markets look to Jackson Hole as Fed rate path gets blurred Sentiment was subdued on Friday as investors struggled to get an accurate reading on the US economy as well as on the Fed’s intentions about the pace of [..]

Will the UK PMIs intensify worries over a recession? – Forex News Preview

Posted on August 19, 2022 at 9:09 am GMT

After seeing UK inflation accelerating to double digits earlier this week, pound traders may now turn their gaze to the flash UK Purchasing Managers Indices (PMIs) for August, due to be released out on Tuesday at 08:30 GMT. With the preliminary GDP data revealing contraction in the second quarter of the year, traders may want more clues on how the economy has been faring thereafter. Are the UK PMIs headed towards contractionary territory? There are no forecasts available at the [..]

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