All Articles Tagged - GBPUSD

Week Ahead – Pressure mounts on ECB and BoJ after latest dollar surge

Posted on July 15, 2022 at 11:45 am GMT

After another sizzling-hot inflation report out of the United States, the European Central Bank and Bank of Japan will meet against the worrisome setting of their currencies plunging. The former is expected to launch its tightening cycle, but the latter may make a surprise policy move even though it has not signalled any action. It’s looking to be an eventful week on the data front as well, as the flash PMI estimates for July and inflation numbers are due in [..]

Technical Analysis – GBPUSD stands slightly above 28-month low

Posted on July 13, 2022 at 1:27 pm GMT

GBPUSD is flirting with the 28-month low of 1.1800, a crucial level for traders. Trend signals remain daunting as the price continues to trade comfortably below its simple moving averages (SMAs) and under the Ichimoku lines, which proved to be a tough resistance area to overcome last week. The negative cross between the 20- and 40-day SMAs is further dashing any hopes for trend improvement. As regards the market momentum, some optimism seems to be building for an upside correction [..]

Daily Market Comment – Euro/dollar kisses parity, stocks slide as caution reigns

Posted on July 12, 2022 at 8:31 am GMT

Euro tests parity against US dollar, similar moves across FX arena Stocks and oil prices edge lower in the shadow of China lockdowns Gold cannot shine either despite cautious mood, extends selloff Hello parity A sense of nervousness has descended on global markets once again, with traders slashing their exposure to riskier assets and taking shelter in the only hedge that works – the mighty US dollar. The reserve currency has been riding a perfect storm thanks to its unique [..]

Technical Analysis – GBPUSD drives down a slippery road; 1.1700 next in focus

Posted on July 12, 2022 at 7:44 am GMT

GBPUSD could not close successfully above the 1.1988 – 1.2000 bar last week, which had proven to be a reliable support base between 2016 and 2019, with the price erasing its latest bullish attempt to chart a new two-year low at 1.1844 early on Tuesday. The market is lacking conviction for a meaningful bounce back as the RSI keeps hovering comfortably below its 50 neutral mark, while the MACD is displaying stronger bearish dynamics, extending its negative trajectory below its [..]

Bojo leaves, what’s next? – Special Report

Posted on July 11, 2022 at 3:55 pm GMT

The UK prime minister saw his career suddenly collapsing last week at the most burdensome period for the economy. While the race to replace him is already heating up, his unfinished political goals suggest his successor will have to make herculean efforts to put the country back in the right direction. The British pound may also face a tough time along the way despite its initial positive reaction to the political chaos, as GDP growth figures will probably revive fresh [..]

Daily Market Comment – Muted tone ahead of US jobs report as Abe shooting lifts yen

Posted on July 8, 2022 at 9:28 am GMT

Dollar keeps climbing as Fed officials talk rate hikes ahead of June payrolls data Stocks, bond yields and commodities move in tandem, inch lower after rebound Shooting of ex-PM Abe in Japan adds to risk-off vibe, yen firms Markets in anxious wait for NFP report Recession worries may have ebbed somewhat this week, making way for a rebound in equities, but investors continue to be gripped by fear amid the extreme uncertainty surrounding the outlook. Economic indicators in America, Europe [..]

Technical Analysis – GBPUSD gains ground as BoJo resigns

Posted on July 7, 2022 at 12:36 pm GMT

GBPUSD inched up after the drop to a 27-month low of 1.1875 on Wednesday following news that British Prime Minister, Boris Johnson, is resigning. The bearish trend is still strong below the medium-term descending trend line, so the short-term outlook is still not good. Technically, the rise in the RSI indicators shows that market sentiment is getting better, but buyers may not get involved until the price breaks through the downtrend line. However, the MACD oscillator is strengthening its negative momentum below its trigger and zero [..]

Technical Analysis – GBPUSD snaps losses on BoJo’s resignation news

Posted on July 7, 2022 at 10:00 am GMT

GBPUSD edged higher to fully recoup yesterday’s soft decline after news the British Prime Minister, Boris Johnson, will resign later in the day. The short-term outlook, however, is still discouraging as the bearish trend is well intact below June’s high of 1.2400. In momentum indicators, the upturn in the RSI and the MACD on the four-hour chart, shows improving market sentiment, but buyers may not show engagement unless the price overcomes the support-turned resistance zone of 1.1988 and surges above the 20-period SMA. [..]

Daily Market Comment – Stocks stage mild rebound, pound climbs as Johnson set to quit

Posted on July 7, 2022 at 9:27 am GMT

Stocks in recovery mode despite hawkish Fed minutes, which spur yields higher Lower commodity prices might be aiding sentiment as WTI falls below $100 Pound catches a bid on speculation PM Johnson is about to resign Recession gloom eases as stocks edge up The cloud has started to lift slightly over the markets even as recession risks remain elevated and worries about overtightening by the Fed and other central banks persist. The broad pullback in government bond yields appears to [..]

Daily Market Comment – Euro pinned near 20-year low as recession worries mount but stocks inch up

Posted on July 6, 2022 at 9:17 am GMT

Euro languishes near two-decade low, dollar stands tall amid heightened recession angst Stocks show sign of life, oil edges higher but copper slips to new lows Fresh political storm adds to pound’s woes as Johnson’s future in doubt 2Y/10Y yield curve inverts ahead of Fed minutes Euro hammered by energy crisis Market sentiment remained mired in recession anxiety as the latest spike in natural gas prices fuelled concerns that the energy crisis will drag Europe into a major economic slump. [..]

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