All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD capped by 50-day SMA as rebound falters

Posted on August 9, 2022 at 6:52 am GMT

GBPUSD has been in a prolonged downtrend since the beginning of the year, creating a clear structure of lower highs and lower lows. Although the pair managed to faintly bounce back after its downfall halted at the 28-month low of 1.1760, the price has been repeatedly held down by the 50-day simple moving average (SMA) in the last few daily sessions. The momentum indicators reflect a cautiously negative tone. Specifically, the stochastic oscillator is descending near its 20-oversold area, while the RSI [..]

Week Ahead – US inflation report to cast light on Fed’s path

Posted on August 5, 2022 at 10:57 am GMT

Another decisive week for global markets lies ahead. The main event will be the latest CPI report from the United States, which will reveal whether inflation has finally started to cool off. That’s what business surveys and commodity prices suggest, setting the stage for a retracement in the almighty dollar. Recession blues Market participants are playing a cat and mouse game, constantly shifting back and forth between worrying about inflation or growth. When incoming data points to a resilient economy, [..]

Daily Market Comment – Stocks drift, dollar firms as markets brace for US jobs slowdown

Posted on August 5, 2022 at 9:33 am GMT

NFP report awaited as recession risks remain front and centre Dollar inches higher ahead of the jobs data, stocks drift sideways Pound regains footing after fall from BoE’s warning of long recession Oil steadies after sliding again, gold shines as yield-curve inversion deepens Jobs report to put US economy to the test Recession jitters were abound on Friday even as markets got off to a steady start following a few wobbles along the week. PMI indicators around the world painted [..]

Daily Market Comment – Wall Street bounces, shrugs off Taiwan tensions and hawkish Fed

Posted on August 4, 2022 at 9:23 am GMT

Solid earnings lift US stocks to multi-month highs despite hawkish Fed soundbites Yen slips further as markets unrattled by China flexing its military muscle over Taiwan Pound edges up ahead of expected Bank of England rate hike, dollar consolidates Earnings relief fuel equities rebound Geopolitical tensions and recession fears appear to have faded into the background for investors as shares on Wall Street staged another impressive rally on Wednesday, while safe-haven currencies retreated further. Another round of better-than-expected earnings [..]

Technical Analysis – GBPUSD battles with 50-day SMA as rebound falters

Posted on August 3, 2022 at 2:48 pm GMT

GBPUSD has been in a prolonged downtrend since the beginning of the year, creating a clear structure of lower highs and lower lows. Although the price has managed to recoup some losses after its downfall halted at the 28-month low of 1.1760, its latest rebound was recently rejected near the upper Bollinger band. The momentum indicators reflect a cautiously positive tone. Specifically, the MACD histogram is currently above both zero and its red signal line, while the RSI remains beyond its [..]

Bank of England ponders a more ‘forceful’ rate hike – Forex News Preview

Posted on August 2, 2022 at 1:48 pm GMT

The Bank of England is widely tipped to raise interest rates for the sixth straight meeting on Thursday (11:00 GMT). But there is a bit of uncertainty about the size of the hike as policymakers are considering stepping up the pace of rate increases to 50-basis-point increments as inflation continues to run wild in the UK. Market pundits have assigned about an 85% probability of a double hike, leaving the pound with little scope to extend its two-week rebound versus [..]

Daily Market Comment – US-China tensions dent appetite as yields crumble, dollar creeps higher

Posted on August 2, 2022 at 9:36 am GMT

Stocks turn red amid renewed Sino-US tensions as Pelosi expected in Taiwan Yen extends winning streak, dollar also catches a bid as bond yields skid Aussie plummets after RBA decision, pound rally loses steam too as BoE eyed Threat of geopolitical flare-up dampens mood Risk sentiment took a knock on Tuesday as it emerged that the Speaker of the US House of Representatives Nancy Pelosi is on her way to Taiwan, defying China’s strong advice against visiting the disputed territory. [..]

Technical Analysis – GBPUSD under bullish control but confirmation required

Posted on August 2, 2022 at 7:53 am GMT

GBPUSD closed marginally above its 50-day simple moving average (SMA) on Monday at 1.2244 for the first time since February, violating at the same time the upper surface of a bearish channel. Despite today’s stabilization, there are still hopes for further progress given the upward trend in the RSI, which is currently hovering clearly above its 50 neutral mark, as well as the strength in the MACD, which has climbed into the positive region. That said, traders may wait for additional [..]

Daily Market Comment – Dollar slips further as easing rate hike bets bolster stocks

Posted on August 1, 2022 at 9:37 am GMT

Dollar spun around by mixed data, eventually resuming its slide along with yields Tech and oil earnings stretch S&P 500’s monthly gain to 9% But some caution as weak Asian manufacturing PMIs lift yen Fed rate hike bets continue to waver The US dollar has started August on the backfoot as markets are increasingly convinced that the Federal Reserve’s rate hike days are numbered, while Wall Street has just notched up its best month since November 2020, cheered by more [..]

Week Ahead – Bruised dollar looks to NFP report; BoE could speed up rate hikes

Posted on July 29, 2022 at 12:01 pm GMT

The coming week is shaping up to be another crucial one for gauging recession risks and monetary policy paths. It’s NFP week in the United States and the RBA and Bank of England will decide whether to accelerate their hiking cycles. The ISM PMIs are bound to attract a lot of attention as well in the US as growth concerns intensify. Elsewhere, employment figures in Canada and New Zealand, and manufacturing PMIs out of China will be the highlights. Meanwhile, [..]

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