USD Falls 3.9%, Biggest Weekly Decliner Since 2009

USD Falls 3.9%, Biggest Weekly Decliner Since 2009

$USD $.DXY The Buck posted its biggest weekly decliner in more than 10 yrs Friday, as trillions of dollars worth of aid/stimulus efforts by governments and central banks helped temper a rout in global markets driven by the coronavirus pandemic. The USD surged in March as tumbling stock and debt markets caused a scramble for […]

British Pound: USD/GBP (GBP=X) soars alongside stocks as equities look past jobless claims

British Pound: USD/GBP (GBP=X) soars alongside stocks as equities look past jobless claims

British Pound: USD/GBP (GBP=X) soars alongside stocks as equities look past jobless claims The British Pound was the best-performing major currency on Thursday, rallying alongside a broad “risk-on” tilt in global equities. Lately, Sterling appears to have become more sensitive to risk assets. On Wall Street, the Dow Jones and S&P 500 closed 6.38% and 6.24% […]

British Pound: USD/GBP (GBP=X) Resumes Rally as Traders Continue to Digest Covid-19 Pandemic

British Pound: USD/GBP (GBP=X) Resumes Rally as Traders Continue to Digest Covid-19 Pandemic

British Pound: USD/GBP (GBP=X) Resumes Rally as Traders Continue to Digest Covid-19 Pandemic The pound cut losses to resume its rally against the dollar on Wednesday as investors continued to digest the impact of U.K. government’s measures to contain the Covid-19 pandemic. GBP/USD rose 0.96% to $1.1869, after swinging between gains and losses between $1.1640 […]

British Pound: USD/GBP (GBP=X) Rallies Yet Again

British Pound: USD/GBP (GBP=X) Rallies Yet Again

British Pound: USD/GBP (GBP=X) Rallies Yet Again The British pound initially drifted a little bit lower during the trading session on Tuesday but continues to find support at the 1.15 level. This is an extraordinarily low level to say the least, and the British pound is most certainly oversold at this point. The question now is whether […]

British Pound: USD/GBP (GBP=X) Tries To Rebound

British Pound: USD/GBP (GBP=X) Tries To Rebound

British Pound: USD/GBP (GBP=X) Tries To Rebound GBP/USD is in a rebound mode following the steep fall of the last week which was driven by mass flight to safety and the resulting strength of the U.S. dollar. Over the weekend, the U.S. tried to pass a new coronavirus aid package but political differences between Democrats […]

British Pound: USD/GBP (GBP=X) Falls to New Lows

British Pound: USD/GBP (GBP=X) Falls to New Lows

British Pound: USD/GBP (GBP=X) Falls to New Lows Sterling lost ground against major currencies on Wednesday despite the 330 Billion Pound bailout package by the British Government amid coronavirus pandemic. Global financial markets are in turmoil as investors are dashing to cash out, selling what they can sell. GBP investors are in a panic as the […]

British Pound: USD/GBP (GBP=X) Breaks Through Major Figure

British Pound: USD/GBP (GBP=X) Breaks Through Major Figure

British Pound: USD/GBP (GBP=X) Breaks Through Major Figure The British pound initially tried to rally during the trading session on Wednesday but then gave back all of the gains and sliced through the 1.20 level to show signs of weakness yet again. The fact that we have sliced through the 1.20 level shows you just how weak […]

British Pound: USD/GBP (GBP=X) Breaks Through Technical Barrier

British Pound: USD/GBP (GBP=X) Breaks Through Technical Barrier

British Pound: USD/GBP (GBP=X) Breaks Through Technical Barrier The British pound has initially tried to rally during the trading session on Friday but then turned around a break down below the 1.25 handle. We are below the 200 day EMA so a lot of traders will look at this as a downtrend, and therefore one would have […]

British Pound: USD/GBP (GBP=X) Breaks Down Below the 200 Day EMA

British Pound: USD/GBP (GBP=X) Breaks Down Below the 200 Day EMA

British Pound: USD/GBP (GBP=X) Breaks Down Below the 200 Day EMA The British pound initially tried to rally but then broke down below the 200 day EMA. Whether or not we find support here is somewhat irrelevant, because quite frankly this is all about the coronavirus and the US dollar is considered to be a […]

British Pound: USD/GBP (GBP=X) Decline From Channel Resistance Signals Reversal Potential

British Pound: USD/GBP (GBP=X) Decline From Channel Resistance Signals Reversal Potential

British Pound: USD/GBP (GBP=X) Decline From Channel Resistance Signals Reversal Potential The US dollar saw some reprieve in early day trading on Tuesday after President Donald Trump discussed a payroll tax cut late on Monday to help offset the negative impact the Coronavirus is expected to have on the economy. The equity markets have pared […]

British Pound: USD/GBP (GBP=X) continues to show an aversion to risk with ongoing concerns about the Coronavirus

British Pound: USD/GBP (GBP=X) continues to show an aversion to risk with ongoing concerns about the Coronavirus

British Pound: USD/GBP (GBP=X) continues to show an aversion to risk with ongoing concerns about the Coronavirus The markets continue to show an aversion to risk with ongoing concerns about the Coronavirus and a plunge in oil prices after Saudi Arabia and Russia failed to reach an agreement to stabilize prices. Oil prices were down […]

British Pound: USD/GBP (GBP=X) Showing Stability

British Pound: USD/GBP (GBP=X) Showing Stability

British Pound: USD/GBP (GBP=X) Showing Stability The British pound has pulled back a bit during the trading session on Wednesday, before bouncing to show signs of resiliency yet again. The 200 day EMA currently sits below the 50% Fibonacci retracement level so it is very possible that we rally from here, but it won’t be […]

British Pound: USD/GBP (GBP=X) Continues to Hover At Low Levels

British Pound: USD/GBP (GBP=X) Continues to Hover At Low Levels

British Pound: USD/GBP (GBP=X) Continues to Hover At Low Levels The British pound continues to hang around the 1.2750 level, an area that has been crucial more than once. Furthermore, it’s very likely that the market is trying to price and what the central banks are doing, as the Bank of England and the Federal […]

British Pound: USD/GBP (GBP=X) Gapped Lower to Kick Off The Week

British Pound: USD/GBP (GBP=X) Gapped Lower to Kick Off The Week

British Pound: USD/GBP (GBP=X) Gapped Lower to Kick Off The Week The British pound has gapped lower to kick off the trading session on Monday, rally from there, and then pulled back as Bank of England members are now suggesting that a rate cut is possible. Having said that though, the Federal Reserve also looks […]

British Pound: USD/GBP (GBP=X) Sterling Is Acting As Wild Card In A Coronavirus-Dominated Market

British Pound: USD/GBP (GBP=X) Sterling Is Acting As Wild Card In A Coronavirus-Dominated Market

British Pound: USD/GBP (GBP=X) Sterling Is Acting As Wild Card In A Coronavirus-Dominated Market “Pound Sterling is acting as the wild card in a Coronavirus-dominated market, mostly reliant on investors’ mood when it comes to fiscal stimulus expectations ahead of the UK budget and UK-EU trade negotiations” say analysts at ING Bank on Sunday. “Next […]

British Pound: USD/GBP (GBP=X) bearish bias remains

British Pound: USD/GBP (GBP=X) bearish bias remains

British Pound: USD/GBP (GBP=X) bearish bias remains The Federal Reserve is expected to respond to the escalation in Coronavirus fears this week with a rate cut, possibly as soon as April. The CME FedWatch Tool, which tracks Fed Fund Futures prices to calculate market odds of policy adjustments, shows a striking increase in expectations for […]

British Pound: USD/GBP (GBP=X) pair trades relatively flat

British Pound: USD/GBP (GBP=X) pair trades relatively flat

British Pound: USD/GBP (GBP=X) pair trades relatively flat GBP/USD rallied yesterday to nearly break to a fresh one-week high before sellers stepped in to drive the pair lower. The currency pair trades relatively flat on the week thus far and has been mostly confined to a range in February. Rate cut expectations in the US […]

British Pound: USD/GBP (GBP=X) Continues To Show Resiliency

British Pound: USD/GBP (GBP=X) Continues To Show Resiliency

British Pound: USD/GBP (GBP=X) Continues To Show Resiliency The British pound has rallied a bit during the trading session on Tuesday, reaching towards the 1.30 level early during the day. However, that is an area that is rather strong for its importance and psychological impact, so it’s interesting to see that the market has rolled […]

British Pound: USD/GBP (GBP=X) Reverses Lower From Major Resistance

British Pound: USD/GBP (GBP=X) Reverses Lower From Major Resistance

British Pound: USD/GBP (GBP=X) Reverses Lower From Major Resistance Volatility was heightened in the global markets at the European open as investors fled from risky assets in favor of safe-haven assets like gold and bonds. The currency markets appear to be little impacted by the shift to risk aversion as the major currencies trade within […]

British Pound: USD/GBP (GBP=X) Target towards 1.30 level

British Pound: USD/GBP (GBP=X) Target towards 1.30 level

British Pound: USD/GBP (GBP=X) Target towards 1.30 level The British pound has rallied slightly during the trading session on Friday, showing signs of support yet again at the 1.29 level. I think at this point, the market is likely to go looking towards 1.30 level but will probably find a bit of resistance just above […]

British Pound: USD/GBP (GBP=X) market will find some support at the 1.28 level

British Pound: USD/GBP (GBP=X) market will find some support at the 1.28 level

British Pound: USD/GBP (GBP=X) market will find some support at the 1.28 level The British pound broke down a bit during the trading session on the on Thursday to slice below the 1.29 level. However, it looks as if the market will find some support at the 1.28 level, and a bounce from here makes […]

British Pound: USD/GBP (GBP=X) Breaks Down A Bit

British Pound: USD/GBP (GBP=X) Breaks Down A Bit

British Pound: USD/GBP (GBP=X) Breaks Down A Bit The British pound has initially broken above the 1.30 level, but then broke down below there for the session on Wednesday. Ultimately, the market is falling, but probably reflects the US dollar more than anything else. The British pound has done fairly well against other currencies so […]

British Pound: USD/GBP (GBP=X) Continues To Stagnate

British Pound: USD/GBP (GBP=X) Continues To Stagnate

British Pound: USD/GBP (GBP=X) Continues To Stagnate The British pound went back and forth during the trading session on Tuesday, and as a Great Britain continues to fight the effects of withdrawing from the European Union. Ultimately though, this is a pair that is also featuring the greenback, which is one of the strongest currencies […]

British Pound: USD/GBP (GBP=X) Edges Higher on March Budget Optimism

British Pound: USD/GBP (GBP=X) Edges Higher on March Budget Optimism

British Pound: USD/GBP (GBP=X) Edges Higher on March Budget Optimism The Pound US Dollar (GBP/USD) exchange rate climbed last week, with the pairing fluctuating between lows of $1.287 to highs of $1.3065 after Jerome Powell, the Chair of the US Federal Reserve, warned that China’s coronavirus could begin to have a negative effect on the […]

British Pound: USD/GBP (GBP=X) Flirts with Critical Technical Level

British Pound: USD/GBP (GBP=X) Flirts with Critical Technical Level

British Pound: USD/GBP (GBP=X) Flirts with Critical Technical Level The upward momentum in GBP/USD weakened on Wednesday as the pair trades near a technical area that drew sellers. Nevertheless, the exchange rate has held up and there is potential for more gains, especially as the dollar has started to soften this week. Market sentiment in […]

British Pound: USD/GBP (GBP=X) Extends Recovery Above Major Resistance

British Pound: USD/GBP (GBP=X) Extends Recovery Above Major Resistance

British Pound: USD/GBP (GBP=X) Extends Recovery Above Major Resistance The pound to dollar exchange rate is recovering higher this week after testing moving average support, boosted by a weaker dollar. GBP/USD was last seen nearing the 1.3000 handle after posting a low near 1.2870 in the early week. GDP data from the UK released on […]

British Pound: USD/GBP (GBP=X) trying to reach towards the 1.30 level

British Pound: USD/GBP (GBP=X) trying to reach towards the 1.30 level

British Pound: USD/GBP (GBP=X) trying to reach towards the 1.30 level The British pound rallied a bit during the trading session on Tuesday, reaching the highs of the previous couple of sessions, and now looks to be set on trying to reach towards the 1.30 level. This is a market that of course has a […]

British Pound: USD/GBP (GBP=X) picking up a bit of strength

British Pound: USD/GBP (GBP=X) picking up a bit of strength

British Pound: USD/GBP (GBP=X) picking up a bit of strength The British pound rallied a bit during the trading session on Monday, picking up a bit of strength to kick off the week. However, we are still very depressed as far as levels are concerned and is the main theme in general when it comes […]

British Pound: USD/GBP (GBP=X) broke declining trend channel

British Pound: USD/GBP (GBP=X) broke declining trend channel

British Pound: USD/GBP (GBP=X) broke declining trend channel GBP/USD initially showed upward momentum yesterday but rolled over on the back of a strong dollar and has since declined to a one-week low. The pair is currently testing support which could trigger a turn higher. The week ahead is expected to be a busy one and […]

British Pound: USD/GBP (GBP=X) Gets Hammered On Monday

British Pound: USD/GBP (GBP=X) Gets Hammered On Monday

British Pound: USD/GBP (GBP=X) Gets Hammered On Monday The British pound has gotten hammered during the trading session on Monday to kick off the week, slicing through the 50 day EMA. The uptrend line underneath should be supportive, as it coincides nicely with the crucial 1.30 level. At this point, the market is starting offer […]

US Outlook In Focus For British Pound: USD/GBP (GBP=X) Rates With Key Data Incoming

US Outlook In Focus For British Pound: USD/GBP (GBP=X) Rates With Key Data Incoming

US Outlook In Focus For British Pound: USD/GBP (GBP=X) Rates With Key Data Incoming Despite last week’s safe haven demand and signs of resilience in US data, the British Pound to US Dollar (GBP/USD) exchange rate ultimately avoided losses and spent the late-week climbing higher. Market optimism around the Bank of England (BoE) outlook, combined […]

British Pound: USD/GBP (GBP=X) BoE Could Go Either Way

British Pound: USD/GBP (GBP=X) BoE Could Go Either Way

British Pound: USD/GBP (GBP=X) BoE Could Go Either Way GBP/USD is hovering at the symbolic 1.30 level, up 0.08% on the day. Traders should be prepared for some movement in the European session, as the Bank of England announces its rate decision. BoE Could Go Either Way Will he or won’t he? Mark Carney chairs […]

British Pound: USD/GBP (GBP=X) currently testing support which could trigger a turn higher

British Pound: USD/GBP (GBP=X) currently testing support which could trigger a turn higher

British Pound: USD/GBP (GBP=X) currently testing support which could trigger a turn higher GBP/USD initially showed upward momentum yesterday but rolled over on the back of a strong dollar and has since declined to a one-week low. The pair is currently testing support which could trigger a turn higher. The week ahead is expected to […]

British Pound: USD/GBP (GBP=X) Manufacturing PMI Points to Contraction

British Pound: USD/GBP (GBP=X) Manufacturing PMI Points to Contraction

British Pound: USD/GBP (GBP=X) Manufacturing PMI Points to Contraction GBP/USD is trading sideways on Monday. Currently, the pair is trading at 1.3082, up 0.14% on the day. The pound managed to post slight gains over the week, its first winning week of the year. On the economic front, we’ll get a look at mortgage approvals […]

British Pound: USD/GBP (GBP=X) flat as BoE decision ‘genuine toss up’

British Pound: USD/GBP (GBP=X) flat as BoE decision ‘genuine toss up’

British Pound: USD/GBP (GBP=X) flat as BoE decision ‘genuine toss up’ The pound is clinging to yesterday’s gains against the US dollar, leaving the pairing trading around $1.312. Sterling was able to hold onto Wednesday’s gains against the dollar thanks to the reduced odds of the Bank of England (BoE) cutting interest rates at next […]

British Pound: USD/GBP (GBP=X) Probes Trend Channel Resistance

British Pound: USD/GBP (GBP=X) Probes Trend Channel Resistance

British Pound: USD/GBP (GBP=X) Probes Trend Channel Resistance The pound to dollar exchange rate is attempting to post a third consecutive day of gains and is probing a notable resistance area. GBP/USD turned higher on Monday and extended gains yesterday after an upbeat UK jobs report. Sterling has been particularly sensitive to incoming data as […]