All Articles Tagged - GBPUSD

Technical Analysis – GBPUSD tests upper boundary of trading range

Posted on February 18, 2022 at 10:30 am GMT

GBPUSD is moving higher over the last 4-hour session remaining well above the short-term simple moving averages (SMAs). The RSI indicator is pointing up near the 70 level, while the MACD oscillator is holding above its trigger line in the positive region. If the market overcomes the 1.3637 resistance level, the next stop could come from the 1.3660 resistance level. Surpassing the aforementioned levels, the bulls may visit the 1.3690 hurdle ahead of the 1.3750 barrier, registered in January 13. [..]

Technical Analysis – GBPUSD feeds bullish views despite narrow trading

Posted on February 16, 2022 at 2:09 pm GMT

GBPUSD has been directionless over the past week, barely sustaining any strength within a tight range but still resilient enough to hold above the 1.3520 floor and the 20-day simple moving average (SMA). Although the technical oscillators cannot make the blurry short-term picture clear yet, with the RSI and the MACD confusingly moving sideways around their neutral levels, the bulls will keep their sights on last week’s high of 1.3642 as long as the 1.3520 base stands firm. A move above that peak could [..]

Technical Analysis – GBPUSD displays neutral tone tiptoeing on 100-MA

Posted on February 15, 2022 at 9:53 am GMT

GBPUSD is edging sideways slightly above the 100-day simple moving average (SMA) as directional impetus has disappeared. The SMAs are converging, largely endorsing a more neutral trend, with the gliding 200-day SMA nourishing bearish pressures, while the rising 50-day SMA is championing positive price moves. Currently, the Ichimoku lines are not reflecting dominant directional forces, while the short-term oscillators are transmitting mixed and weak messages in momentum. The MACD is holding a tad above its zero and trigger lines, while [..]

US Open Note – As Russia-Ukraine tensions persist, the dollar strengthens

Posted on February 14, 2022 at 2:02 pm GMT

Ukraine tensions and FOMC minutes in focus; dollar rises As the United States fears that an invasion may be approaching, tensions over Russian forces stationed near Ukraine are entering what might be a pivotal week. The United States is warning of an imminent invasion, while President Vladimir Putin has accused America of failing to satisfy his demands. Russia has denied it is preparing to invade Ukraine, and Chancellor Olaf Scholz of Germany is travelling to Kyiv today, a day before visiting Moscow to calm the issue. This week’s focus is on the [..]

UK jobs, inflation and retail sales data might add more clarity to BoE rate path – Forex News Preview

Posted on February 14, 2022 at 10:50 am GMT

The latest monthly employment, CPI and retail sales readings are due out of the United Kingdom on Tuesday, Wednesday and Friday, respectively, at 07:00 GMT. The pound is looking somewhat neutral lately as the Bank of England was hawkish, but not hawkish enough at its last meeting. The data will therefore likely be vital in reviving some bullish momentum for sterling as central banks race to remove accommodation from liquidity-fuelled economies. Not hawkish enough? When the Bank of England lifted [..]

US Open Note – The ‘hot’ US inflation figures rattle the markets

Posted on February 11, 2022 at 1:39 pm GMT

CPI figures drive interest rate speculation The US consumer price index (CPI) climbed to 7.5% year-over-year in January, accelerating from the previous reading of 7%. The core measure also topped consensus expectations rising to 6%, marking its largest annual gain since 1982. Commenting soon after yesterday’s inflation data release, the FOMC voting member James Bullard called for a full percentage rate hike by July, noting that he would also be open for an inter-meeting rate increase. The hotter-than-expected inflation readings fuelled speculation for a [..]

Week Ahead – Dollar defies hot inflation, turns to Fed minutes

Posted on February 11, 2022 at 12:59 pm GMT

Another scorching hot US inflation print has sent bond markets scrambling to price in aggressive Fed rate increases, but the dollar is trading like inflation has already peaked. Is this a turning point for the FX market? Next week’s Fed minutes and US retail sales could reveal whether the playbook has truly changed. Dollar not impressed Will the Fed pull the handbrake? That’s what the market is betting on after the latest acceleration in inflation. Six and a half rate [..]

Daily Market Comment – Markets bet on Fed ‘shock and awe’ after scorching hot inflation

Posted on February 11, 2022 at 10:27 am GMT

US inflation surges again, yields jump, dollar whipsaws, stocks sink Bullard stokes speculation of Fed front-loading rate hikes Euro and aussie tumble after Lagarde and Lowe push back CPI shock sparks erratic moves as no peak in sight Investors were scrambling to reprice a much steeper rate hike path by the Fed on Friday following another red-hot inflation report. The US consumer price index rose 0.6% month-on-month in January, beating forecasts of 0.5% and unchanged from the prior month’s upwardly [..]

Technical Analysis – GBPUSD trendless despite growing bullish forces

Posted on February 11, 2022 at 9:50 am GMT

GBPUSD buyers have resurfaced around the 100-period simple moving average (SMA) after the pair’s recent retreat from a 1.3643 spike. Currently, the SMAs have tangled and are not indicating a clear message in terms of a price direction. That said, the 50-period SMA has regained its incline and has just crossed above the 200-period SMA, tilting the directional scale in favour of the upside. The short-term oscillators are indicating that driving momentum in the pair has practically disengaged. The MACD [..]

Technical Analysis – GBPUSD finds resistance at 38.2% Fibonacci

Posted on February 10, 2022 at 2:13 pm GMT

GBPUSD tested the 38.2% Fibonacci retracement level of the downward wave from 1.4250 to 1.3160 at 1.3580 again before reversing back down again. The RSI indicator is mirroring the latest negative mode on price as it is pointing south near its neutral threshold of 50; however, the MACD is trying to strengthen its upside momentum above its trigger and zero lines. In case the pair overcomes the 38.2% Fibo of 1.3580, the price could head towards the 1.3630 level, which is the [..]

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