All Articles Tagged - GBPUSD

US Open Note – Dollar weakens as risk aversion grows

Posted on November 30, 2021 at 2:19 pm GMT

Fed Chair Powell to draw focus; Chicago PMI and consumer confidence eyed Market sentiment has weakened, and the greenback has taken a hit as concerns regarding the omicron variant have resurfaced. Disappointing comments from the CEO of Moderna on the efficacy of current vaccines along with concerns from the Fed Chair Powell seem to be the culprits. Federal Reserve Chair Powell mentioned that the omicron variant brings with it uncertainty around inflation and thus could upset growth prospects. The strain [..]

Technical Analysis – GBPUSD sellers take a breather but bearish bias rules

Posted on November 30, 2021 at 9:41 am GMT

GBPUSD is consolidating around the 1.3300 mark, within the 1.3277-1.3362 support zone that has managed to mute negative forces for now. The falling simple moving averages (SMAs) are presently backing the bearish picture in the pair. The short-term oscillators are suggesting a moderate waning in negative momentum. The MACD, some distance in the negative zone, is holding beneath its red trigger line. The RSI, in bearish territory, is improving from the 30 level, while the stochastic oscillator is promoting advances [..]

US Open Note – Resilient dollar rebounds in calmer markets

Posted on November 29, 2021 at 2:51 pm GMT

Greenback shrugs off new virus scare, market sentiment bounces back The calmer markets today seem to have brushed off the shock linked to the new omicron variant that hit global equity markets on Friday. Despite markets rapidly regaining their composure, risk aversion may linger moving towards the end of the year, as not much has been proved about the new strain of the virus. That said, the World Health Organisation (WHO) aided markets by reiterating that the current symptoms connected [..]

Technical Analysis – GBPUSD holds above 11-month low; risk still to the downside

Posted on November 29, 2021 at 1:42 pm GMT

GBPUSD rebounded off the eleven-month low of 1.3280 and the return line of the descending channel, which has been holding since June 1. The MACD oscillator is trying to surpass its trigger line in the negative region, while the RSI is pointing upwards below the neutral threshold of 50. However, the 20- and 40-day simple moving averages (SMAs) are heading south, confirming the long-term bearish view. More upside pressure in the near-term could take the market towards the 20-day SMA [..]

US Open Note – Markets dive as new Covid variant identified

Posted on November 26, 2021 at 1:57 pm GMT

FX market is bleeding due to new variant; yen shines After the discovery of a new and possibly vaccine-resistant coronavirus variant in South Africa, Botswana, and Hong Kong, the FX market is posting strong losses and US stock futures are indicating a negative open. Flights from South Africa and other nearby countries have already been temporarily banned by Britain, which was followed by Israel and Singapore, and could lead to similar bans in other countries. The introduction of the new variant comes at a time when different European countries are coping [..]

Technical Analysis – GBPUSD forms foothold at 11-month low, bearish bias stands

Posted on November 26, 2021 at 9:54 am GMT

GBPUSD buyers have re-emerged around the 1.3300 handle and lower Bollinger band, trying to make a comeback after a one-week drop in the pair, which produced an 11-month low. The bearish simple moving averages (SMAs) are reinforcing the one-month descent from the 1.3800 vicinity. Currently, the short-term oscillators are suggesting that negative momentum is fading, due to a surge in positive powers. The MACD, some ways below zero, has nudged over its red trigger line, while the RSI is improving [..]

US Open Note – Dollar shines again as gold and lira prints losses

Posted on November 23, 2021 at 2:10 pm GMT

Biden’s Fed picks drives dollar up The Fed nomination decision caused some tremors in the financial markets on Monday. In the decision’s wake, futures markets have firmed up expectations for a rate hike in June, which had previously been biased towards July. Governor Brainard has been selected to replace Clarida as Vice Chair at the end of January next year. The US dollar index is extending its gains towards a fresh 16½-month high of 96.59, while dollar/yen is hovering slightly below the four-and-a-half year high of 115.15 that it posted earlier in [..]

Technical Analysis – GBPUSD edges towards 2021 lows as bears resurface

Posted on November 23, 2021 at 8:31 am GMT

GBPUSD has erased last week’s gains, which barely touched the 1.3500 level, bringing its 2021 low of 1.3352 back into scope. There is speculation for additional bearish sessions in the short term given the negative slope in the RSI, and the falling red Tenkan-sen line, which has been a key barrier to upside movements over the past three weeks. On the bright side, the MACD has reached its former support region, raising the odds for a potential reversal in the [..]

UK flash PMIs set to fall again as cable slips – Forex News Preview

Posted on November 22, 2021 at 2:22 pm GMT

The latest batch of British data will hit the markets on Tuesday morning at 08:30 GMT. The flash manufacturing and services PMIs will attract attention before traders’ focus turns on whether the Bank of England will raise interest rates at its December meeting. The British pound looks to have found strong resistance in the previous sessions at $1.3510 at the same time that the UK government is extending its coronavirus booster program. Markit flash PMIs expected to fall The flash Markit services PMI is forecast to have fallen [..]

US Open Note – US dollar kicks off the week higher as hawkish talk increases

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

US dollar slopes upwards amid upcoming monetary tightening The dollar’s upsurge seems to be continuing this week fueled by the Fed’s Vice Chair Richard Clarida, who signaled an imminent acceleration of the tapering program that could eventually result in earlier rate hikes. In addition, the greenback has also benefited from the rebound in Treasury yields today. However, President Biden is expected to reveal his nomination for the Fed’s chair before Thanksgiving on Thursday, where a possible designation of the more ‘dovish’ Brainard might push [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

GBPUSD

XM Live Chat