British Pound: USD/GBP (GBP=X) under pressure GBP/USD is challenging the 1.2400 figure after the speech of Fed’s Chair Powell. There was no significant reaction in the currency market as Powell essentially didn’t bring anything new to the table. Overall, the bias in prices is: Downwards. By the way, prices are vulnerable to a correction towards […]
British Pound: USD/GBP (GBP=X) Bank of England to cut interest rates in November Pound Sterling put in some gains against the Euro and Dollar on Thursday, July 11 with the currency exploiting a weaker Dollar and Euro, however we maintain a view that the currency will continue to struggle amidst ongoing political uncertainty and growing […]
British Pound: USD/GBP (GBP=X) further downside potential The Pound recorded its ninth consecutive weekly loss against the Euro ahead of the weekend, and it recorded its lowest weekly close against the U.S. Dollar since April 2017. The weakness extends to the majority of major currencies, as a multi-week sell-off extended amidst a combination of political […]
British Pound: USD/GBP (GBP=X) continued weakness suggests that we could go much lower Yesterday, I have the perception that perhaps we could find enough support to cause this market to bounce. While that hasn’t necessarily been eliminated, the Thursday candle doesn’t exactly instill a lot of confidence. The fact that we rallied and then gave […]
British Pound: USD/GBP (GBP=X) weak UK data and Brexit uncertainty weigh The fresh forward-looking purchasing managers’ index adds insult to injury for the pound. Sterling had already been suffering from growing uncertainty around Brexit after parliament was unable to vote on a motion that could have blocked a no-deal Brexit. John Bercow, the speaker of […]
British Pound: USD/GBP (GBP=X) forecasts downgraded as Brexit saga drags on into year-end The Pound is likely to remain depressed into year-end and beyond according to the latest forecasts from Barclays, while both the Dollar and Euro are set to face trials and tribulations of their own before the curtain closes on 2019. Currency markets entered […]
British Pound: USD/GBP (GBP=X) this week’s key events are the PMI reports British consumers remain gloomy about the economy, as GfK Consumer Confidence dropped to -13, below the estimate of -11. Britain’s balance of payments deteriorated in Q1, as the current account deficit widened to GBP 3.0 billion, up sharply from 27.3 billion in Q4 […]
British Pound: USD/GBP (GBP=X) Holds Within a 50 pip Range There was some strong downside momentum in GBP/USD on Tuesday after it failed to cross an important resistance level. That momentum has died down significantly as the pair has fallen into a range. On a 4-hour chart, the 100 and 200-period moving averages appear to be containing […]
British Pound: USD/GBP (GBP=X) tumbled due to fresh comments from Federal Reserve officials After hitting its best levels in weeks yesterday, the British Pound to US Dollar (GBP/USD) exchange rate tumbled due to fresh comments from Federal Reserve officials. However, the US Dollar’s appeal was limited as the Fed remained dovish overall, and investors were […]
British Pound: USD/GBP (GBP=X) to trade heavily this summer as political risk rises Pound Sterling could be in for a rough ride against the Dollar and Euro through the remaining summer months, according to strategists at HSBC, who say the mounting threat of both a ‘no deal’ Brexit and general election will weigh on the British […]
British Pound: USD/GBP (GBP=X) looks as if we are trying to continue the downward momentum The British pound initially tried to rally during the trading session on Monday but has found the 1.2750 level to be too much in the way of resistance yet again. That being the case, it looks as if we are […]
British Pound: USD/GBP (GBP=X) rises up to key June highs The Pound-to-Dollar rate will be trading at around 1.2738 at the start of the new week, after rising 1.2% in the previous week. Studies of the charts suggest that the exchange rate is likely to continue rising over the next five days. Recently, however, the […]
British Pound: USD/GBP (GBP=X) showing strength The British pound rallied significantly during the trading session on Wednesday as we awaited the Federal Reserve statement, so therefore it looks as if the market is banking on some type of diabetes when it comes to that announcement. With the markets waiting for the Federal Reserve to make […]
British Pound: USD/GBP (GBP=X) rattled by Boris Johnson and Hard Brexit rhetoric The British Pound remains weak in the face of heightened hard Brexit fears ahead of the second round of voting for the Conservative leader sip. Brexiteer Boris Johnson is currently a strong odds-on favorite to win the roll with some bookmakers pricing Johnson at a […]
British Pound: USD/GBP (GBP=X) forecasts downgraded amid mounting election risks The Pound is facing a protracted period of weakness as the risk of a general election and socialist government mounts, according to new forecasts from ING Group, while the Dollar is just months away from a turn lower that brings its 18-month rally to an end […]
British Pound: USD/GBP (GBP=X) to move sideways or decline in short-term The Pound-to-Dollar rate is trading at around 1.2589 at the start of the new week, after falling 1.13% in the previous week. Studies of the charts suggest that the exchange rate is likely to continue falling over the next five days but we are […]
British Pound: USD/GBP (GBP=X) heightened risk of reversal Pound Sterling is beginning to look a great deal more resilient against the Euro, even with the news out over the past 24 hours that parliament has failed in its latest attempts to ensure a ‘no deal’ Brexit is avoided on October 31. The Pound-to-Euro exchange rate now looks […]
British Pound: USD/GBP (GBP=X) Returning to Recent Lows The Pound returned toward recent lows against the Euro and Dollar going into the London close Wednesday after an opposition attempt to create law preventing a ‘no deal’ Brexit from taking place under the next Prime Minister was defeated in the House of Commons. Shadow Brexit Secretary […]
British Pound: USD/GBP (GBP=X) bid higher on better-than-expected labour market data Pound Sterling was seen staging a recovery against the Euro and U.S. Dollar in mid-morning trade on Tuesday, June 11 after UK labour market data showed wages continue to rise. According to ONS data, average earnings, with bonuses included, grew 3.1% in April, which […]
British Pound: USD/GBP (GBP=X) losing its gains in response to weak UK data The pound trades almost exclusively but it has been unable to ignore horrible figures. The UK economy shrank by 0.4% in April, worse than expected and indicating a hangover in the economy after businesses stockpiled ahead of the original Brexit data – […]
British Pound: USD/GBP (GBP=X) to be impacted by leadership race The Pound could well extend higher this coming ewek but we are wary of a brief and temporary setback from overbought levels The Pound-to-Dollar rate is trading at around 1.2732 at the start of the new week, after rising 0.8% in the previous week. Studies […]
British Pound: USD/GBP (GBP=X) British Construction PMI disappointed, with a score of 48.6 GBP/USD has posted slight gains in the Tuesday session. Currently, GBP/USD is trading at 1.2689, up 0.20% on the day. On the fundamentals front, British Construction PMI disappointed, with a score of 48.6, indicating contraction. This missed the estimate of 50.6 points. […]
British Pound: USD/GBP (GBP=X) focus is on manufacturing releases GBP/USD has posted is unchanged in the Monday session. Currently, GBP/USD is trading at 1.2645, up 0.11% on the day. On the fundamentals front, the focus is on manufacturing releases. British Manufacturing PMI slowed to 49.4, missing expectations. Later on, the U.K. releases BRC Retail Sales […]
British Pound: USD/GBP (GBP=X) possibility of recovery Pound Sterling has fallen 4.0% against the U.S. Dollar over the course of May, with losses taking the exchange rate down from the May 03 high at 1.3177 down to the month low of 1.2559 recorded on the final day. Declines are attributable to the Pound falling on […]
British Pound: USD/GBP (GBP=X) Brexit Paralysis might Stay for Long As disclosed earlier, current UK PM Theresa May would step down from office on June 7. Her departure would pave the way for the contest to elect the next successor for UK Leadership. Boris Johnson seems to possess the most chances to grab the PM’s […]
British Pound: USD/GBP (GBP=X) Expected to Trade Sideways The British pound went back and forth against the US dollar during trading on Tuesday, as we continue to bounce around. It makes sense of the Brexit of course steals all the headlines but at the end of the day we also have to worry about global trade. […]
British Pound: USD/GBP (GBP=X) Parliament remains deeply divided over Brexit The fog engulfing the Brexit remains as thick as ever. An embattled Prime Minister May announced her resignation on Friday, but her leadership has been so tenuous in recent months, that the move was viewed with more relief than surprise. Meanwhile, consumer inflation climbed to […]
British Pound: USD/GBP (GBP=X) under extreme selling pressure GBP/USD is trading below its main SMAs suggesting a bearish bias in the short term. As the USD is slightly weaker across the board bulls are attempting a recovery above 1.2600 figure. The trend remains down and bulls would need to initially break 1.2700 to create a […]
British Pound: USD/GBP (GBP=X) trading lower in mid-week trade amidst speculation Prime Minister Theresa May could be forced out of office over coming days The Pound is trading lower in mid-week trade amidst speculation Prime Minister Theresa May could be forced out of office over coming days. Reports suggest senior Cabinet ministers are looking to […]
British Pound: USD/GBP (GBP=X) BoE Governor Mark Carney testifies about inflation and the economic outlook before the Treasury Committee GBP/USD is showing little movement on Monday. In the North American session, the pair is trading at 1.2740, up 0.20% on the day. The pair dropped 2.2% last week, its sharpest weekly loss since October 2017. […]
British Pound: USD/GBP (GBP=X) fell rather hard The British pound initially tried to rally during the trading session on Wednesday but fell rather hard. We had broken through the most recent low at the 1.2850 level, and now it looks as if we are going to continue to go lower. The 1.28 handle will be targeted, […]
British Pound: USD/GBP (GBP=X) could dip below 1.2930 GBP could dip below 1.2930 but next support at 1.2900 could be just out of reach. Expectation for GBP to trade sideways yesterday was incorrect as it reversed quickly after touching 1.3040. While the sharp and swift drop to an overnight low of 1.2942 appears to be […]
British Pound: USD/GBP (GBP=X) suddenly turns on global risk sell-off Pound Sterling starts the new week slightly firmer against the Euro with 1 GBP buying 1.1585 EUR on the inter-bank market. The Pound suffered five consecutive days of losses against the Euro last week, with the exchange rate falling over a percent and a half, confirming […]
British Pound: USD/GBP (GBP=X) takes cues from jobs data; USD retail sales The Pound-to-Dollar rate is set to begin trading around 1.3000 on Sunday after closing more than one percent lower last week, although studies of the charts suggest the outlook for the exchange rate has turned neutral of late. Sterling still ceded ground to […]
British Pound: USD/GBP (GBP=X) will continue to see a lot of choppiness The British pound has gone back and forth during the trading session on Thursday, as we continue to deal with the 1.30 level as a magnet for price. Looking at this chart, it’s obvious that we have seen the lot of back-and-forth action, so […]
British Pound: USD/GBP (GBP=X) don’t be surprised if the volatility picks up The British pound has fallen during the trading session on Wednesday, reaching towards the vital 1.30 level. We have broken below this level before though, so it’s not exactly an possible that we continue to go lower. In general, we obviously have the Brexit […]
British Pound: USD/GBP (GBP=X) Stable as UK Service Sector Rebounds The Pound (GBP) held its ground at the end of last week after the UK’s latest services PMI confirmed the sector returned to growth in April. However growth was negligible and confirmed that the UK’s private sector only narrowly avoided stagnation last month, capping any […]
British Pound: USD/GBP (GBP=X) should continue to see a lot of volatility, mainly due to the Brexit The British pound got rolled over a bit during the trading session on Monday, as people were concerned about the spat between the Americans and the Chinese yet again. Ultimately, this is a market that should continue to see […]
British Pound: USD/GBP (GBP=X) Economic data, trade talks, Brexit and monetary policy are all in focus It’s a busy week ahead. In the first half of the week, house price figures, and retail sales data will likely be brushed aside ahead of a busy Friday. On the data front, 1st quarter GDP numbers, industrial and manufacturing […]
Will British Pound: USD/GBP (GBP=X) rise back above 1.30? The US Federal Reserve have already scaled back on their plans to hike interest rates in 2019 and whilst some commentators do believe that we will see the US currency weaker in the future if they move to cut rates anytime soon, what might be more […]
British Pound: USD/GBP (GBP=X) U.S dollar is on a roll and the momentum could continue this week GBP/USD posted considerable losses for a second straight week, closing the week below 1.30 for the first time since February. The upcoming week is light, with four events. Here is an outlook for the highlights of this week and an updated […]
British Pound: USD/GBP (GBP=X) take advantage of a low Pound The British pound try to rally initially during the trading session on Thursday but continues to break down. Now that we are below the 1.29 level we will be focusing on the 1.28 level underneath which is the 100% Fibonacci retracement level from the retest of […]
British Pound: USD/GBP (GBP=X) Brexit now returns to the agenda with expected volatility After the Easter recess Brexit now returns to the agenda with another round of volatility to be expected in these coming weeks. The pound to dollar exchange rate has struggled to gain momentum with rates falling below 1.30 for the GBP/USD pair. […]
British Pound: USD/GBP (GBP=X) break below 200-day required for bears to get going The Pound-to-U.S. Dollar rate is trading at 1.2993 at the start of the new week, with holiday-thinned Monday trade ensuring currency markets are witnessing low volatility. The exchange rate is however still about a half a percent lower than where it was […]
British Pound: USD/GBP (GBP=X) to struggle against the US Dollar until there is Brexit clarity One positive is that at least the extension removes the threat of a no-deal scenario for the time being but until there is some longer-term clarity, I fear the Pound could struggle to make any significant impact against the greenback. […]
British Pound: USD/GBP (GBP=X) is expected to trade sideways within a broad range No change in view from last Friday, see reproduced update below. There is not much to add as GBP traded within a relatively narrow range between 1.3050 and 1.3107 and registered an ‘inside trading day’. We have held the same view more […]
British Pound: USD/GBP (GBP=X) expect fluctuations on updates on the ongoing Brexit drama UK PM Theresa May has arranged last minute meets with the leaders of Germany and France later the day. She will urge the EU leaders to support her get an additional Brexit extension until June 30. In the talks with the EU leaders, she […]
British Pound: USD/GBP (GBP=X) Investors watching for a potentially key Brexit deal vote on Thursday The Pound-to-Dollar exchange rate is trading at 1.3032 at the start of a new week in which we expec the pair to be greatly affected by heightened Brexit uncertainty. The granting of a lenthy Brexit delay – or alternatively, no […]
British Pound: USD/GBP (GBP=X) Rebounds despite Mixed US Data For most of last week, investors found the Pound appealing and the US Dollar relatively unappealing. The Pound’s appeal was bolstered largely by Brexit speculation, as hopes rose that UK Parliament would be able to prevent a no-deal Brexit, while Prime Minister Theresa May and opposition […]
British Pound: USD/GBP (GBP=X) slips after Carney warning on Brexit After three days of gains, GBP/USD has dropped considerably on Thursday. In North American trade, GBP/USD is trading at 1.3075 down 0.62% on the day. On the release front, British new home-secured loans dropped to GBP 6.2 billion, shy of the estimate of GBP 7.7 […]
British Pound: USD/GBP (GBP=X) below Consensus PMI number weakened the pair further After continuing last day’s plunge rally during the Asian trading session, the GBP/USD managed to follow a range-bound movement. The pair fluctuated between 1.1212 and 1.1191 levels. Street Analysts expect the cable to remain in consolidation mode as the day approaches closing time. The Cable […]
British Pound: USD/GBP (GBP=X) Brexit uncertainty and turmoil continue GBP/USD dropped over 1.3% last week, as Brexit uncertainty and turmoil continue. We’ll get a snapshot of the health of the British economy, with the release of PMI reports. Here is an outlook for the highlights of this week and an updated technical analysis for GBP/USD. Prime […]
British Pound: USD/GBP (GBP=X) Brexit turmoil After an uneventful week, GBP/USD has dropped sharply on Thursday. In North American trade, the pair is trading at 1.3080, down 0.85% on the day. On the release front, U.S. Final GDP for the fourth quarter posted a 2.2% gain, shy of the estimate of 2.4%. Unemployment claims fell […]
British Pound: USD/GBP (GBP=X) continues to show little movement this week GBP/USD continues to drift this week. In Wednesday’s North American trade, the pair is trading at 1.3207, up 0.01% on the day. On the release front, British CBI Realized Sales shocked with a reading of -18, compared to the forecast of 5 points. There […]
British Pound: USD/GBP (GBP=X) Diminished odds for further GBP weakness After dropping sharply to 1.3004 last Thursday (21 Mar), GBP staged a surprisingly robust rebound and hit a high of 1.3224 on Friday. The high was just a few pips below our 1.3230 ‘key resistance’. While the ‘key resistance’ is still intact, the price action […]
British Pound: USD/GBP (GBP=X) Plunges as Macron Warns of N0-Deal Brexit Risk Comments from French President Emmanuel Macron prompted the Pound Sterling to US Dollar (GBP/USD) exchange rate to lose further ground this afternoon. As Macron warned that the UK could see a no-deal Brexit if MPs reject Theresa May’s deal once again Pound Sterling […]
British Pound: USD/GBP (GBP=X) unchanged after mixed job numbers GBP/USD is steady in the Tuesday session. In the North American session, the pair is trading at 1.3265, down 0.09% on the day. There are no major U.S. events on the schedule. British employment numbers were mixed. On Wednesday, the U.K. releases a host of inflation […]
British Pound: USD/GBP (GBP=X) market movement depends upon the UK labor market report The financial markets exhibited thin volatility in the wake of a national holiday in the United States. Well, the traders are back and the economic calendar is also loaded with some high impact economic events. Most of the focus will remain on […]
British Pound: USD/GBP (GBP=X) tipped to rise as uptrend extends The Pound-to-Dollar rate is to begin trading around 1.3285 Sunday after rising more than 2.0% in the previous week, although the exchange rate still has further to climb over the coming days, according to technical studies of charts. The pair rose after the UK Parliament […]
British Pound: USD/GBP (GBP=X) promises to be a busy week GBP/USD posted huge gains last week, climbing 2.2 percent. It promises to be a busy week. The U.K. releases CPI and retail sales, and parliament will hold another vote over Brexit. Central banks will also be in focus, with the BoE and Federal Reserve expected […]
British Pound: USD/GBP (GBP=X) Parliament asks government to rule out ‘no deal’ Brexit permanently UK lawmakers have voted to hypothetically take a ‘no deal’ Brexit off the table ‘for ever’ in a night of bruising losses for the government in the House of Commons that corresponded with another sharp rally in the value of the […]
British Pound: USD/GBP (GBP=X) UK Parliament votes to reject a no-deal Brexit Pound Sterling is the best performing major currency in mid-week trade with markets holding the view a solution to the current chronic Brexit uncertainty is achievable, with talk of the Attorney General reviewing his guidance being of particular interest to us from a […]
British Pound: USD/GBP (GBP=X) off overnight highs as market adopts wait-and-see approach The British Pound rose to record fresh multi-month highs against the Euro and rallied towards recent multi-month highs against the Dollar following a last-gasp attempt by the EU and UK to secure a Brexit deal. Overnight, UK Prime Minister Theresa May flew to […]
British Pound: USD/GBP (GBP=X) Struggles Ahead of Brexit Vote The Pound (GBP) was left on the defensive at the end of last week, falling against the majority of its peers amidst concerns about the progress on Brexit talks between the UK and EU. This comes ahead of a vote on Theresa May’s Brexit deal on […]
British Pound: USD/GBP (GBP=X) volatility is expected to increase further Next week the UK Parliament will vote on a series of Brexit Bills which will decide the short- and long-term future relationship between the UK and the EU. On Tuesday, PM May’s current Brexit Bill is re-presented to the House and is likely to be […]
British Pound: USD/GBP (GBP=X) Faces a more Difficult Road Reports out Thursday suggest Brexit talks between the EU and UK are close to breaking down, suggesting Prime Minster Theresa May’s Brexit deal will be shot down next week in what could amount to a substantial shift in sentiment for the British Pound. “Backstop talks on […]
British Pound: USD/GBP (GBP=X) focus will be on U.S. employment numbers for the remainder of the week GBP/USD continues to lose ground in the Tuesday session. In North American trade, the pair is trading at 1.3138, down 0.32% on the day. The pound has dropped 1.4% since February 28. In economic news, British Services PMI […]
British Pound: USD/GBP (GBP=X) to continue steady downside action ahead of Carney’s Speech The GBPUSD pair has been on steady albeit slow downside price action since the trading session started for the week. While hopes for the possibility of delaying article 50 deadline continues to prevent a sharp decline in the immediate future, a clear […]
British Pound: USD/GBP (GBP=X) eyes potential surprise Brexit vote The Technical outlook for GBP/USD is constructive and we would expect Sterling to maintain its 2019 bias for strengthening. But, we are wary of a surprise vote on Brexit, while a broadly stronger U.S. Dollar could provide headwinds. The Pound-to-U.S. Dollar rate is trading at 1.3204 […]
British Pound: USD/GBP (GBP=X) Rate Knocked by Strong US Growth Report Speculation that the Federal Reserve could still hike US interest rates again this year returned today, pushing the Pound Sterling to US Dollar (GBP/USD) exchange rate lower. Market demand for the US Dollar (USD) rose following the publication of the latest US growth rate […]
Delay to Brexit good for British Pound: USD/GBP (GBP=X) in short-term Pound Sterling is rising on the back of moves by government to ensure parliament is able to say whether they want to leave the EU without a deal or whether they want an extension to Brexit. The currency pushed to multi-year highs against the […]
British Pound: USD/GBP (GBP=X) Path of least resistance for Sterling is higher The Labour Party have announced that if they cannot get a ‘Labour Brexit’ through the House of Commons, they’ll move to a promise of another referendum on Brexit, a move that has been interpreted by foreign exchange markets as being a positive one […]
British Pound: USD/GBP (GBP=X) still plenty of positivity in this market The British pound rallied a bit during the trading session on Monday, slamming into the 1.31 handle which of course is very important as of the last couple of sessions. Looking at the chart, it appears that we could eventually break above there and go […]
British Pound: USD/GBP (GBP=X) Brexit speculation bolstering demand for the Pound Throughout the past week, investors were hesitant to buy the US Dollar, as developments in geopolitics and trade news made investors more willing to take risks instead. As the US Dollar is a safe haven currency that benefits from times of market uncertainties, the […]
British Pound: USD/GBP (GBP=X) U.K posted a rare budget surplus in January GBP/USD is steady in the Thursday session, continuing the trend seen on Wednesday. In North American trade, the pair is trading at 1.3051, unchanged on the day. In economic news, the U.K posted a rare budget surplus in January. The surplus of GBP 15.8 […]
British Pound: USD/GBP (GBP=X) Investors are awaiting the release of the FOMC Minutes The pound US dollar exchange rate advanced to an almost two-week high yesterday, but the pairing has given up some of those gains today and is currently trading in the region of $1.303. GBP/USD has drifted lower despite President Donald Trump dispelling […]
Mixed UK data and Brexit uncertainties didn’t prevent the British Pound: USD/GBP (GBP=X) Mixed UK data and Brexit uncertainties didn’t prevent the British Pound to US Dollar (GBP/USD) exchange rate from extending its recovery attempts today, as Pound investors reacted with optimism to some stats while the US Dollar’s strength was limited by optimism surrounding […]
British Pound: USD/GBP (GBP=X) heading back towards the 200-day moving average GBPUSD has picked up from last Thursday’s 1.2770 low and is now trading either side of 1.2900 after hitting an early peak around 1.2925. This push higher has taken GBPUSD above the 50-day moving average at 1.2874 and is homing in on the 200-day ma […]
British Pound: USD/GBP (GBP=X) Brexit, PMI Numbers and Trade Talks in Focus On the Macro For the Dollar: Key stats include December durable goods orders, February’s Philly FED Manufacturing Index, prelim U.S private sector PMI numbers and existing home sales figures all due out on Thursday. An upward trend in the weekly jobless claims figures […]
British Pound: USD/GBP (GBP=X) higher low for GBP/USD? It may be that GBP/USD has found a bottom around $1.284. The price has rallied off the lows and started to move higher, but it will need to maintain this momentum and push above $1.294 to suggest that a higher low is in place. This would then suggest a […]
British Pound: USD/GBP (GBP=X) drifts lower within more uncertain period GBP/USD managed to rally through the $1.2979 resistance level on Thursday, with that short-term higher high pointing towards the possibility of further upside to come. However, with the price drifting lower, we are moving closer to the $1.2854 level which would denote a bearish continuation move. […]
British Pound: USD/GBP (GBP=X) respecting Fibonacci support GBP/USD sold off into the 76.4% Fibonacci support level over the past week, with the pair starting to find some buyers from that $1.2922 level. This points towards a likely move higher to continue the bullish trend in play over the past month. A break below $1.2930 would signify a […]
British Pound: USD/GBP (GBP=X) at key support Bulls will need to watch this GBP/USD battle around $1.302 carefully. If they can hold this zone of support, then an attempt to challenge $1.31 is possible, with a break of this lower high signaling a fresh bullish move in the ongoing uptrend from the December lows. A failure to […]
British Pound: USD/GBP (GBP=X) continues to drift lower GBP/USD has been drifting lower after a recent uptrend that took the pair into a three-month high. The current move lower looks to take the form of a falling wedge, with a strong possibility that the wider bullish trend will come back into play once more. A […]
British Pound: USD/GBP (GBP=X) bounces off 200-day SMA GBP/USD found support at the 200-day simple moving average (SMA) of $1.3056, and then began a new move higher. Further gains target $1.32, the highs from the end of last week, and then $1.3338 and $1.3470 come into view from here. The bullish view remains, unless we see […]
British Pound: USD/GBP (GBP=X) looks set to continue upward trend GBP/USD eased back overnight, bringing the pair into the 76.4% retracement level. The wider uptrend remains intact unless we see a drop below the $1.3012 swing low. The current respect of the Fibonacci support level points towards an upward move from here. Overall, the bias in […]
British Pound: USD/GBP (GBP=X) quiet after surge After leaping higher last week, GBP/USD has edged back from $1.32. Dips have been firmly bought over the past month, so the near-term areas to watch are the lows of Thursday and Friday, at $1.30 and $1.307 respectively. A close below $1.30 might signal that the bounce has run its […]
British Pound: USD/GBP (GBP=X) holds at new two-month high Developments in the UK Parliament which suggest ‘no deal’ is a much-reduced possibility, have driven GBP/USD’s surge. The pair has formed a rising wedge, with support possible around $1.282. A break of this would likely mark a revival of the downward move, towards $1.2773 and then the […]
British Pound: USD/GBP (GBP=X) recovers from recent weakness GBP/USD’s overall upward trend from the lows of December continues, although it received a sharp check on Friday. However, the price continues to hold the 200-hour simple moving average (SMA) of $1.285, having bounced back above it yesterday. This dip may see fresh buying, targeting $1.30 in […]
British Pound: USD/GBP (GBP=X) Beware Return of Brexit Risks GBP/USD has been stuck fast at $1.29 for several days. A failure to break higher raises the risk of a deeper retracement. Near-term support lies at $1.2773 (close to the 50-day SMA at $1.2763 too), while a bigger dip finds support around $1.27. Above $1.29, the price […]
British Pound: USD/GBP (GBP=X) regaining ground after Brexit volatility Yesterday’s Brexit vote brought about huge volatility as expected, with severe selling in the lead up to the event subsequently reversing once the votes came in. Despite the uncertainty looming ahead, markets seem somewhat unmoved, with tonight’s vote of no confidence unlikely to succeed. The fact that the GBP/USD broke […]
British Pound: USD/GBP (GBP=X) faces high volatility British Parliament has rejected Prime Minister Theresa May’s Brexit deal with a majority of 230, 202 vs 432. With the initial market reaction, the GBP/USD pair slumped to a low of 1.2667 and was last seen trading around 1.2710, down 1.15% on a daily basis. GBP/USD has pushed steadily higher over the […]
British Pound: USD/GBP (GBP=X) turning lower after recent rally GBP/USD rallied sharply at the end of the week, coming off the back of a stronger than expected UK gross domestic product (GDP) reading for November. That has taken us through the $1.2812 resistance level, pointing towards a potential period of upside from here. However, with the […]
British Pound: USD/GBP (GBP=X) all eyes will be on the Parliament Brexit Vote Parliament Brexit Vote: Tuesday, Tentative. All eyes will be on this crucial vote. UK PM has secured an reached an agreement on the withdrawal of the country from the EU, but Parliament is expected to vote against the deal. That would mean […]
British Pound: USD/GBP (GBP=X) staled at $1.28 The GBP/USD pair continues to edge above the 50-day SMA ($1.2774). However, gains above $1.28 have proven too much to sustain, raising the risk of a pullback. A close above $1.28 opens the way to $1.284 and $1.2934, with the 100-day SMA at $1.2896 also a possible area of resistance. […]
British Pound: USD/GBP (GBP=X) heading upwards towards crucial resistance level GBP/USD is rising once again this morning, with the pair heading towards the key $1.2812 level. Should we see that level broken, it would provide a more bullish view for the pair. Whether or not we see that level broken will be key to how we […]
British Pound: USD/GBP (GBP=X) back to $1.28 While GBP/USD has rallied hard from the low of last week, the bounce has run into selling around the $1.28 level, as it did at the end of December. If this holds once again then we can expect the $1.2635 and $1.259 zones to be challenged. A close above $1.281 […]
British Pound: USD/GBP (GBP=X) rally looks likely to fall short GBP/USD has been gaining ground since the drop below $1.2477, with the pair now starting to stall. That drop into a new low on 2 December highlights a continuation of the wider bearish theme, with the current rally looking likely to falter rather than create a […]
British Pound: USD/GBP (GBP=X) potential for break in either direction The UK enters a critical three week period as parliamentarians return to Westminster to debate the merits of the Government’s withdrawal deal with the EU. A vote is due in the week commencing January 14. At present, the deal is expected to be voted down […]
British Pound: USD/GBP (GBP=X) 2019 Brexit may not be the disaster that the technicals are reflecting, Brexit may well breathe life back in to the stagnant UK. Overall, the bias in prices is: Downwards. Note: this chart shows extraordinary price action to the downside. The projected upper bound is: 1.67. The projected lower bound is: […]