All Articles Tagged - GBPUSD

Daily Market Comment – Markets struggle for direction as Fed keeps its options open

Posted on August 18, 2022 at 8:59 am GMT

Fed minutes lean hawkish, signal ‘restrictive’ policy, but open door to slower pace Dollar stays on the front foot, Wall Street bounces off lows but then starts drifting Euro holds within range as European gas prices surge to record highs Fed pushes back on rate cut bets, markets don’t listen The Federal Reserve warned that moving to a “restrictive stance of policy” was essential in the minutes of the July meeting, as it fights to get inflation down to its [..]

Daily Market Comment – Dollar steady ahead of US retail sales, Fed minutes as stocks stay buoyant

Posted on August 17, 2022 at 8:50 am GMT

US retail giants lift recession gloom, as Dow Jones and S&P 500 extend gains But FX market focused on US data and Fed minutes, dollar stays firm Pound and kiwi reverse gains from UK inflation surprise and hawkish RBNZ Stocks stay on the bright side Equity traders continue to shrug off persisting recession worries, choosing to bet instead that a severe downturn will be avoided, at least when it comes to earnings. Walmart and Home Depot were the latest to [..]

Technical Analysis – GBPUSD returns above 1.2100; bullish cross within SMAs remains intact

Posted on August 17, 2022 at 6:45 am GMT

GBPUSD rebounded off the 1.2000 psychological level in the preceding session, flirting with the 20- and 40-day simple moving averages (SMAs). The bullish crossover within the SMAs remains intact, suggesting that a bullish correction may be on the radar in the short-term timeframe. The MACD oscillator is moving sideways near its trigger and zero lines, while the RSI is approaching the neutral threshold of 50. If the market manages to gain momentum, the 23.6% Fibonacci retracement level of the decline [..]

UK inflation likely approached 10% in July, as pound tests $1.20 – Forex News Preview

Posted on August 16, 2022 at 2:42 pm GMT

Inflation in the United Kingdom probably surged further in July, data out on Wednesday (06:00 GMT) is expected to show. Britain already has the highest inflation among the major economies and looks on course to become the first advanced nation in decades with double-digit CPI growth. Unless there’s some surprise weakness in any of the CPI components, the data will likely reinforce expectations of another 50-basis-point rate increase by the Bank of England in September, though this may not necessarily [..]

Technical Analysis – GBPUSD falls further, meeting 1.2000

Posted on August 16, 2022 at 12:54 pm GMT

GBPUSD is diving for the fourth consecutive day, slipping beneath the short-term simple moving averages (SMAs) and near the 1.2000 round number. The MACD oscillator is heading sideways near its trigger and zero lines, while the RSI is falling in the negative territory. Should prices decline further, immediate support could be found around 1.1995, an area which has provided both resistance and support from July to August. Then a leg below that level could see the pair meet the 1.1890 level before [..]

Daily Market Comment – Oil sinks, dollar surges as growth fears return but stocks keep partying

Posted on August 16, 2022 at 9:03 am GMT

Dismal data out of China and the US stifle risk appetite as recession risks return But Wall Street immune to the doom and gloom as tech stocks rally Dimming outlook weighs on commodities as oil hits 6½-month low Dollar powers ahead on fresh growth scare The month-long risk rally suffered a major setback on Monday after economic indicators out of the world’s two biggest economies did anything but shore up confidence in the growth outlook, reviving fears about a [..]

Week Ahead – A plethora of data, an RBNZ meeting, but focus on Fed minutes

Posted on August 12, 2022 at 12:05 pm GMT

There will be no shortage of data releases in the coming week and the RBNZ is poised to hike rates again. But with investors still undecided about the implications of the latest US inflation report on Fed policy, the FOMC minutes might steal the limelight. Meanwhile, thinning liquidity as more traders head for their holiday destinations increases the likelihood of big knee-jerk reactions as markets obsess about the pace of monetary tightening and the risks of a recession. RBNZ leading [..]

Daily Market Comment – Dollar closes the week with bruises, oil prices bounce back

Posted on August 12, 2022 at 8:38 am GMT

US dollar heads for weekly losses after inflation shocker curbs rate bets Oil prices and yields tell a different story though, stocks lose some steam Sterling shrugs off UK economic contraction, Michigan survey coming up Dollar vs yields It has been a strange week for financial markets, filled with conflicting signals. The cooldown in both consumer and producer prices sparked hopes that the worst days of inflation were behind us and the Fed wouldn’t need to be quite so aggressive [..]

Technical Analysis – GBPUSD neutral between SMAs

Posted on August 9, 2022 at 1:38 pm GMT

GBPUSD has been trapped below the falling 50-day simple moving average (SMA) at 1.2145 for almost a week now, also lacking the power to overcome the six-month-old resistance trendline. The 20-day SMA managed to retain some optimism in the market when it put the brakes on the latest bearish correction at 1.2045, but the odds for a meaningful rebound are currently looking minimal according to the technical oscillators. Particularly, with the RSI hovering around its 50 neutral mark following its latest pullback, [..]

Sterling rides wave of risk sentiment ahead of GDP report – Forex News Preview

Posted on August 9, 2022 at 1:17 pm GMT

In the United Kingdom, preliminary GDP growth data for the second quarter will hit the markets at 06:00 GMT Friday. The British pound has suffered heavy damage this year, falling behind even the war-ravaged euro despite a series of rate increases from the Bank of England. This dataset is unlikely to change this dynamic. Instead, the pound is at the mercy of global risk sentiment, which seems unstable. Metamorphosis It has been a tough year for sterling. While the spotlight [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

GBPUSD

XM Live Chat