All Articles Tagged - GBPUSD

Daily Market Comment – Stocks lifted by new S&P 500 record, yen retreats

Posted on December 28, 2021 at 10:10 am GMT

Global stock markets get a lift from S&P 500’s latest dash to new all-time highs Dollar holds steady but yen on a broad pullback amid easing Omicron jitters Oil bounces back as demand worries subside, gold hits one-month high Wall Street’s Santa rally not over yet Shares on Wall Street continued to rally on Monday to notch up a fourth straight day of gains, pushing the benchmark S&P 500 index to a new all-time high of 4,791.19. Having started the [..]

Technical Analysis – GBPUSD rallies from 1-year lows but downside risks remain

Posted on December 28, 2021 at 9:30 am GMT

GBPUSD is confronting the falling 50-day simple moving average (SMA) at 1.3429 after buyers powered up around the 1.3186 vicinity, opposing the six-month decline from the more than three-year high of 1.4248. The bearish SMAs are shielding the negative trend in the pair. That said, the Ichimoku lines are indicating some waning in negative pressures but have yet to confirm that buyers have the upper hand. Looking at the short-term oscillators, they are showing no clear signs that upside drive [..]

US Open – Wall Street eyes new record highs

Posted on December 27, 2021 at 1:53 pm GMT

Dollar climbs; Pound continues its advance The US dollar ticked higher on Monday against a basket of currencies, while the 10-year Treasury yield remained relatively unchanged. The perceived risk-on mood which dominated the markets over the past week continues to weigh on the Japanese yen, which incurred significant losses today against the greenback. Furthermore, commodity based currencies such as the loonie, the aussie and the kiwi are struggling with the latter declining the most versus the euro and the dollar. Last week, the British [..]

Daily Market Comment – Cautious mood in holiday-thinned trade

Posted on December 27, 2021 at 10:03 am GMT

Asia drifts lower despite China support but European shares eye gains Rising virus cases put investors on edge as doubts re-emerge about Omicron impact Commodities pressured, dollar firms, pound advances Subdued start to final week of 2021 Markets were struggling for direction on Monday in what is the last trading week of the year. The optimism that the Omicron variant will not cause a major setback to the post-pandemic economic progress has been brought into question by the latest surge [..]

Technical Analysis – GBPUSD breaks above its 50- and 200-SMA; bullish outlook

Posted on December 27, 2021 at 8:34 am GMT

GBPUSD has crossed above its 50- and 200-period simple moving average (SMA) amid strengthening positive momentum. Moreover, the 50-period SMA is looking ready to cross the 200-period SMA, which if it materializes, it could revive hopes of a sustained bullish outlook. Short-term momentum indicators are reflecting a mixed picture. The RSI is located above its 50 neutral mark, while the MACD is found above zero but below its red signal line, which could indicate that the positive bias might be [..]

Weekly Comment – Risk appetite returns; China PMI could revive slowdown fears

Posted on December 23, 2021 at 1:29 pm GMT

Stocks staged an early-week comeback after the hawkish turn from central banks had pummelled risky assets. Meanwhile, the British pound capitalized on the BoE’s unexpected rate hike last Thursday, emerging as the undisputed winner in the FX arena. The upcoming week seems relatively quiet, with the spotlight shifting on Chinese PMI and US consumer confidence data. Highlights: In Japan, jobs and industrial production data will be released on Tuesday. However, it is unlikely to offer a significant boost for the [..]

Technical Analysis – GBPUSD strengthens upside momentum in near term

Posted on December 22, 2021 at 2:02 pm GMT

GBPUSD is still very close to its one-year low of 1.3165, but it’s currently making an attempt to advance above the 20-day simple moving average (SMA) and the 1.3300 round number. The technical picture suggests a neutral-to-bullish bias. The MACD is extending its recovery above its red signal line, while the RSI has rebounded and is pushing for a break above its 50 neutral mark. If the one-year low of 1.3165 gives way, the price could first test 1.3105, and then the 1.2855 support, where the November [..]

FX year ahead 2022: Brace for volatility – Special Report

Posted on December 22, 2021 at 12:02 pm GMT

It has been an exceptional year for the US dollar, which defied all the doom and gloom predictions to gain more than 10% against the Japanese yen. The resurgence of inflation has turned the tables with many central banks hitting the brakes, and this theme will likely persist into 2022. The dollar could continue to perform well as the Fed tightens and global growth cools, although inflation is a wild card. Politics will also return to the spotlight, with the [..]

US Open Note – Stocks return to green zone as covid fears wane

Posted on December 21, 2021 at 2:06 pm GMT

Risk-on appetite returns but covid headache to be continued Omicron fears took a back seat on Tuesday, letting global stock indices, risk-sensitive currencies, and energy prices recoup some lost ground. Of course, the pandemic will remain the key driver for market sentiment for longer, at least into the new year, navigating inflation pressures, and therefore, monetary tightening plans accordingly. But for now the recent bearish correction is reminiscent of the short-lived downfall, which stock markets faced in the same period [..]

Technical Analysis – GBPUSD remains above one-year low; bearish outlook

Posted on December 21, 2021 at 8:41 am GMT

GBPUSD is stubbornly fighting the nearby one-year low of 1.3165, deriving strong support from the return line of the descending channel. The technical picture however, suggests a neutral-to-bullish bias at the moment as the MACD remains positively charged above its red signal line, while the RSI is currently pushing efforts for an upside reversal, but it is still clearly below its 50 neutral mark. Should the return line around the 1.3165 support be penetrated, the price could initially test the 1.3105 barrier before heading [..]

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