British Pound: USD/GBP (GBP=X) Dollar softer, sterling firmer amid risk-on mood The upbeat tone to investor sentiment continued yesterday as United States and UK markets came back from their long weekend. It seems market participants are focusing on the positives, regarding economies beginning to reopen, despite the still difficult and uncertain economic outlook. This was […]
British Pound: USD/GBP (GBP=X) Slightly Weaker Tone Short-Term There was a positive tone to risk appetite yesterday. The major equity indices managed to register gains. At the closing bell on Wall Street last night, the S&P 500 was up 1.7% on the day. Meanwhile, the action on currency markets over the past 24 hours has […]
British Pound: USD/GBP (GBP=X) on back foot last week Sterling was the main mover on currency markets last week, reflecting the re-emergence of Brexit uncertainty. On Friday it was confirmed by both the EU and UK that little progress was made in the latest talks. Earlier in the week, uncertainty surrounding the UK’s proposed Covid-19 […]
British Pound: USD/GBP (GBP=X) Some Sterling Softness Currency market action yesterday saw sterling adopt a marginally softer tone. Confusion surrounding the UK’s proposed exit strategy from its current Covid-19 lockdown acted as a headwind for the currency. Brexit news flow may also have been a negative. Headlines suggest little progress has been made in EU-UK […]
British Pound: USD/GBP (GBP=X) continues to grind lower The British pound has been extraordinarily bullish, so it seems as if traders have been ignoring the potential troubles coming out of the United Kingdom, not the least of which of course is going to be the extended lockdown. Beyond that, we need to think about Brexit […]
British Pound: USD/GBP (GBP=X) Falls Sharply Lower Ahead of US Retail Sales as the Dollar Dominates the Majors GBP/USD briefly rose to a fresh one-month high yesterday but has given back the gain in early trading today, ahead of the US retail sales report. The pair has been weighed by a strong dollar as the greenback has […]
British Pound: USD/GBP (GBP=X) Economic Calendar is Relatively Light This Week The pound to dollar exchange rate scaled above the 1.2500 handle yesterday for the first time in a month. From a technical perspective, the pair looks to be signaling a bullish continuation. However, if there is one thing that stands out about recent price […]
British Pound: USD/GBP (GBP=X) Continues to Press Major Resistance The British pound initially pulled back a bit during the trading session on Friday, but it was of course Good Friday, meaning that there was almost no trading going on. The 1.25 level above is offering a significant amount of resistance, and therefore we should be paying attention […]
British Pound: USD/GBP (GBP=X) Volatility Remains Subdued GBP/USD has seen a sudden drop in volatility in April and was seen continuing to trade essentially sideways in the early day on Wednesday. The pair saw some buying yesterday as the dollar broadly lost ground against its major counterparts. The greenback has been following an inverse relationship with […]
British Pound: USD/GBP (GBP=X) Reverses The British pound initially pulled back during the trading session on Tuesday but found enough buyers to turn around and send this market higher. By breaking the top of the inverted hammer from the previous session, this is a very bullish sign, but we obviously have a lot of resistance just above, […]
British Pound: USD/GBP (GBP=X) – British PM Johnson Is Taken To Hospital Due To Coronavirus GBP/USD breached the 20 EMA below 1.2300 but the British pound is showing some signs of strength and tries to gain more ground amid optimism on the coronavirus front. British Prime Minister Boris Johnson was taken to the hospital with persistent […]
British Pound: USD/GBP (GBP=X) – Will Pound Resilience Persist? Despite shockingly bad US jobs data published last week, the British Pound to US Dollar (GBP/USD) exchange rate ultimately slipped lower. Even though the Pound was fairly resilient last week, it was unable to hold its ground or sustain any gains against the US Dollar which […]
British Pound: USD/GBP (GBP=X) massive resistance barrier at 1.25 The British pound has pulled back a bit during the trading session on Wednesday as we continue to see a lot of concerns out there when it comes to risk appetite. The 1.25 level above is a massive resistance barrier and the first thing I would point out […]
British Pound: USD/GBP (GBP=X) paying attention to the region is going to be crucial The British pound broke down significantly during the trading session on Tuesday but has bounced a bit as the Americans have stepped on board. This shows just how resilient the British pound is and as a result I think that we have quite […]
British Pound: USD/GBP (GBP=X) road-blocked on charts after best week since 2009 The Pound-to-Dollar rate closed out its largest weekly gain for over a decade on Friday but it’s now tipped to ecounter resistance on the charts that could act as a road-block Sterling over the coming days, although investor appetite for risk and demand […]
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) 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) 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) 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 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) Slams Into Large Figure The British pound has rallied a bit during the trading session on Friday, reaching above the 1.30 level but is starting to see a bit of noise. The 50 day EMA sits just above there as well and could cause some issues. Ultimately, the market is a […]
British Pound: USD/GBP (GBP=X) New BoE Governor Doesn’t See Urgency for Rate Cut The Federal Reserve felt that the potential damage the Coronavirus might have warranted a larger than usual emergency 50 basis point rate cut earlier this week. Andrew Bailey, who will be replacing BoE Governor Mark Carney on March 18, said yesterday that […]
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) 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 “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) 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) 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 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) 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 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 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 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) 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 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 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 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 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’ 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 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 […]
British Pound: USD/GBP (GBP=X) Investors Eye Job Numbers GBP/USD has started the week with slight losses. Currently, the pair is trading at 1.2979, down 0.21% on the day. There was positive news out of the housing sector, as the Rightmove House Price Index rebounded with a gain of 2.3% in January, after posting five declines […]
British Pound: USD/GBP (GBP=X) technical outlook bearish ahead of key data The Pound ceded ground to the Dollar and underperformed all major rivals of late although the charts are flagging more downside potential ahead of jobs and PMI data due out this week, which will be key to the outlook for Sterling. Sterling closed 0.29% […]
British Pound: USD/GBP (GBP=X) Building Support Against Greenback The British pound has gone back and forth during the trading session on Tuesday, as we continue to see a lot of interest around the 50 day EMA. Furthermore, we are dancing around the 1.30 level, so it looks very likely that this level will continue to […]
British Pound: USD/GBP (GBP=X) Holds Near Important Support Level GBP/USD is showing resilience as it holds above a major technical level despite several recent developments. Last week, several members of the Bank of England expressed their dovish views towards monetary policy and that easing might be needed to support the economy. Yesterday’s GDP report from […]
British Pound: USD/GBP (GBP=X) Falls After Anemic GDP Figures The British pound has broken down significantly during the trading session on Monday to kick off the week, slicing through the 1.30 level. However, we are starting to see signs of support just below that area, as we have bounced from there previously. The question now […]
British Pound: USD/GBP (GBP=X) Finishes Week Flat The British pound went back and forth during the week, breaking higher, but it could not break above the top of the shooting star from the previous week. We then broke down a bit but found plenty of support at the 1.30 level. Ultimately, the market is still […]
British Pound: USD/GBP (GBP=X) Looks for Footing in Nervous Markets GBP/USD has posted slight gains on Wednesday, erasing much of the losses seen in the Tuesday session. Currently, the pair is trading at 1.3154, up 0.26% on the day. Pound Looks for Footing in Nervous Markets The U.S. drone attack which killed an Iranian general last week […]
British Pound: USD/GBP (GBP=X) UK Parliament Debates Exit Bill The House of Commons is in the process of debating Johnson’s exit agreement with the EU and the PM’s deal is expected to turn into British law by the end of the week. The opposition has brought forward several amendments but with Johnson now holding a […]
British Pound: USD/GBP (GBP=X) Continues To Consolidate The British pound went back and forth during the trading session with an upward bias on Monday as traders came back from what has been a very interesting weekend to say the least. Ultimately, this is a market that has a lot of moving pieces right now, as […]
British Pound: USD/GBP (GBP=X) Stats, Impeachment, and Brexit to Take a Back Seat as Iran Takes Center Stage On the Macro It’s a busy week ahead on the economic calendar, with 51 stats to monitor. In the previous week, just 27 stats had been in focus. Following the holiday season and lack of stats to […]
British Pound: USD/GBP (GBP=X) Investors Eye PMI Reports fter a pause for New Year’s, investor focus is on the British PMI releases for December, which are important gauges of key sectors in the economy. Later on Thursday, we’ll get a look at Final Manufacturing PMI, which is expected in at 47.6 pts. This is slightly […]
British Pound: USD/GBP (GBP=X) Marches Higher in its Recovery The British pound was one of the strongest major currencies in 2019, advancing roughly 4% against the greenback this year. The Canadian dollar is on pace for the top-performing major currency spot in 2019. It has outpaced Sterling by just a fraction of a percent. Much […]
British Pound: USD/GBP (GBP=X) – British Pound Continues To Press Onward The British pound has rallied a bit during the trading session on Monday, continuing to follow through from the massive move on Friday. That being said, it is running into a little bit of resistance, and therefore a slight pullback makes quite a bit […]
British Pound: USD/GBP (GBP=X) Breaks Higher The British pound broke higher during the trading session on Friday, as we broke well above the 1.30 level. At this point it looks as if the British pound is going to continue to find buyers going forward, as the market has found quite a bit of support at […]
British Pound: USD/GBP (GBP=X) Trying To Overcome Large Number The British pound has rallied a bit during the trading session on Thursday, reaching towards the 1.30 level. This of course is a large, round, psychologically significant figure, and if we can break above there it’s likely that we go much higher. This would be a […]
British Pound: USD/GBP (GBP=X) UK Retail Sales Decline 0.6% in November The Office for National Statistics reported a month over month decline of 0.6% in retail sales for the UK. The figure fell short of the analyst estimate for a rise of 0.3% and reflected the largest drop since December 2018. GBP/USD has not shown […]
British Pound: USD/GBP (GBP=X) Struggles To Go Forward The British pound initially tried to rally during the trading session on Monday, but as you can see, we gave back quite a bit of the gains somewhat early in the day. With that being the case, it shows that we just don’t have anywhere to be […]
British Pound: USD/GBP (GBP=X) Rallies After Election Results The British pound has spiked all the way to the 1.35 handle but has since pulled back quite significantly. That being said, there should be plenty of buyers underneath and a lot of people who have missed out on the initial move will be looking to get […]
British Pound: USD/GBP (GBP=X) Brexit versus Socialism Prime Minister Boris Johnson called a snap election in October after parliament blocked his Brexit deal. Johnson saw an election as a means to end to get Parliament out of the gridlock created by the loss of his majority. The British PM lost his majority following Parliament’s returned […]
British Pound: USD/GBP (GBP=X) looking towards the 1.32 level The British pound initially pulled back during the trading session on Wednesday but found enough support underneath the turn around and rally significantly. At this point in time it looks as if the market is ready to go looking towards the 1.32 level, and then possibly […]
British Pound: USD/GBP (GBP=X) Continues To Power Higher The British pound rallied a bit during the trading session on Tuesday, as we continue to see traders get on the right side of the potential election result in the United Kingdom, as the Tories are likely to have control of Parliament. If they do, then it’s […]
British Pound: USD/GBP (GBP=X) UK Election to Drive Volatility to the Pound With the election now only a few days away, volatility stands to rise for the pound to dollar exchange rate. Thursday’s election will ultimately determine how things will evolve with Brexit. UK PM Boris Johnson wants to push through the already negotiated deal […]
British Pound: USD/GBP (GBP=X) possibility of going much higher The British pound has rallied significantly during the week, breaking above the 1.30 level. This level is not only psychologically important due to the fact that it is a large, round, big figure, but it’s also the top of the bullish flag that we had seen […]
British Pound: USD/GBP (GBP=X) UK Services PMI Falls Into Contraction After briefly stabilizing, the UK service sector fell back into a decline with a print of 49.3 in the PMI reading for November. The data points to staggering growth in the fourth quarter as businesses wait to gain further clarity on the election and Brexit. […]
British Pound: USD/GBP (GBP=X) British Election Polls Show Tight Race GBP/USD has posted slight gains for a third successive day and is currently at its highest level since November 18th. In European trade, GBP/USD is trading at 1.2970, up 0.24% on the day. On the economic front, BRC Retail Sales Monitor recorded a sharp drop of […]
British Pound: USD/GBP (GBP=X) should continue to go much higher The British pound has rallied a bit during the trading session on Monday, reaching higher yet again. At this point, the market is likely to test the 1.30 level above, which of course has been major resistance. At this point in time it’s likely that […]
British Pound: USD/GBP (GBP=X) polls predicted there would be a Conservative majority following the 12th December election The Pound Sterling to US Dollar (GBP/USD) exchange rate rose at the start of the week, as polls predicted there would be a Conservative majority following the 12th December election. However, the pairing retreated on Tuesday as reports […]
British Pound: USD/GBP (GBP=X) Exchange Rate to Break Through to $1.30 if Boris Johnson Secures Majority in December Election? The Pound US Dollar (GBP/USD) exchange rate is consolidating its gains this morning, after roaring higher overnight as a highly influential opinion poll suggested Boris Johnson is on track to win big in next month’s general […]
British Pound: USD/GBP (GBP=X) dip comes as election poll tailwind turns into headwind The Pound was scraping along the bottom of the major currency barrel on Tuesday although further losses could be just around the corner, according to some analysts, because momentum is shifting to the downside on the charts just as election opinion polls […]
British Pound: USD/GBP (GBP=X) dip comes as election poll tailwind turns into headwind The Pound was scraping along the bottom of the major currency barrel on Tuesday although further losses could be just around the corner, according to some analysts, because momentum is shifting to the downside on the charts just as election opinion polls […]
British Pound: USD/GBP (GBP=X) Broader Range Continues The pound to dollar exchange rate has alternated between weekly gains and losses for six consecutive weeks and the pair largely remains range bound. Last week, an early week attempt at the 1.3000 brought hope among bulls for a range break. However, the pair failed to follow through […]