All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD eases after the rise above downtrend line

Posted on July 28, 2022 at 1:03 pm GMT

GBPUSD has reversed to the downside after the rally above the descending trend line and a near brush with the 23.6% Fibonacci retracement level of the down leg from 1.3640 to 1.1760 at 1.2200. The RSI is barely above 50, and the MACD is still above its trigger line in the negative zone, indicating a short-term positive bias. As long as the market maintains its upward momentum above the 40-day SMA (1.2150) and the 23.6% Fibonacci at 1.2200, the 1.2340-1.2455 area [..]

Technical Analysis – GBPUSD turns bullish in short term after dramatic slump

Posted on July 26, 2022 at 6:27 am GMT

GBPUSD has reversed back up after finding strong support at the 28-month low of 1.1760. The pair is advancing above the 20-day simple moving average (SMA) and the next obstacle to surpass is the medium-term descending trend line. The momentum indicators are pointing to a positive bias in the short term with the RSI just above 50 and the MACD is holding above its trigger line in the negative region. A move to the upside could see immediate resistance at [..]

Technical Analysis – GBPUSD rangebound supported by 50-SMA

Posted on July 22, 2022 at 1:14 pm GMT

GBPUSD has been moving sideways after its recent rebound failed to cross above the 1.2045 region. However, the pair is exhibiting negative tendencies, with the 50-period simple moving average (SMA) and the lower Bollinger band acting as a strong floor for the price. The momentum indicators are reflecting a bearish near-term bias. Specifically, the MACD histogram has fallen below its red signal line but remains in positive territory, while the stochastic oscillator is sloping downwards after posting a bearish cross. [..]

Daily Market Comment – ECB hikes big, euro unimpressed; stocks wobble on earnings, growth doubts

Posted on July 22, 2022 at 9:34 am GMT

Euro jumps then falls on ECB’s surprise 50-bps hike as Lagarde fails to inspire confidence Weak PMIs, Snap’s ad warning and rise in US jobless claims re-ignite slowdown concerns Dollar firms but fallout in equities contained by sliding bond yields ECB frontloads rate hikes but new tool troubles euro The European Central Bank threw its rule book out the window on Thursday as policymakers defied their own forward guidance of a 25-basis-point rate hike to lift their three main lending [..]

Daily Market Comment – Euro edges up on Nord Stream relief, awaits ECB outcome

Posted on July 21, 2022 at 9:04 am GMT

Euro buoyed as gas flows resume ahead of ECB decision, but turmoil in Italy Earnings lift S&P 500 to 6-week high but stocks mixed today Gold slumps to one-year low as it loses out to rising rates, bullish dollar All eyes on size of ECB rate hike and new bond tool The euro is clawing higher ahead of the European Central Bank’s widely anticipated interest rate rise – the first in 11 years – later today. There is some uncertainty [..]

Daily Market Comment – Wall Street rallies on earnings boost, euro hits 2-week high on ECB bets

Posted on July 20, 2022 at 9:14 am GMT

Gloom fades further with the help of earnings as stocks rally, dollar retreats Euro extends recovery as ECB decision looms, gas supply fears subside Pound rises on hawkish BoE but political risks cap gains Have stocks reached a bottom? The market mood improved dramatically overnight after Wall Street notched up its best daily gains in almost four weeks. After the recent avalanche of dreadful headlines, things appear to be looking up somewhat, leading some investors to speculate whether the worst [..]

Daily Market Comment – Stocks falter as Apple weighs but dollar remains soft, euro rallies

Posted on July 19, 2022 at 8:45 am GMT

Equity rebound stumbles as Apple dents optimism ahead of tech earnings Euro rebound gains traction on ECB sources as gas flow resumption awaited Dollar stays on the backfoot, aussie jumps on hawkish RBA minutes Wall Street looking shaky again amid uncertainties Market sentiment remained broadly positive on Tuesday but there was a greater sense of cautiousness amid worries about the earnings outlook, ongoing recession fears and some apprehension ahead of the policy decisions by the European Central Bank and Bank [..]

Technical Analysis – GBPUSD jumps higher to meet 1.2000

Posted on July 19, 2022 at 6:53 am GMT

GBPUSD is showing signs of being positive in the short run, after gaining ground on Thursday and breaking over its 28-month low of 1.1760. The technical indicators are pointing upwards as the RSI is on the rise, but it has not yet come close to the neutral threshold of 50, and the MACD is crossing its trigger line to the upside while still being in the negative region. The 20-day simple moving average (SMA), which is located at 1.2040, and [..]

Technical Analysis – GBPUSD approaches 1.2000 after bounce off 28-month low

Posted on July 18, 2022 at 1:57 pm GMT

GBPUSD is appearing bullish in the short term after surging above its 28-month low of 1.1760 on Thursday. The technical indicators are all pointing to further positive momentum in the near term. The RSI is rising but has yet to approach the neutral threshold of 50, while the MACD is crossing its trigger line to the upside in the negative territory. Immediate resistance to further gains would likely come from the 20-day simple moving average (SMA) around 1.2065 and the [..]

Daily Market Comment – Sentiment improves on data, easing Fed fears; stocks and euro edge up

Posted on July 18, 2022 at 9:14 am GMT

Strong US retail sales and softer inflation expectations lift Wall Street Dollar knocked off highs as 100-bps Fed rate hike bets pared back Euro tries to distance itself from parity but Italy and gas supply risks cap gains WTI oil tests $100 on summer demand after Biden’s Saudi trip bears no fruit Stocks set for positive start to week Equity markets got off to a buoyant start on Monday as recession panic continued to subside following some encouraging data out [..]

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