British Pound: USD/GBP (GBP=X) eyes Bank of England, USD Fed and China trade talks The main event for the Pound in the week ahead will be testimony from Bank of England (BOE) governor Mark Carney the Parliamentary Treasury Select Committee, on Wednesday, August 22, covering the inflation and economic outlook. Although the BOE raised interest […]
British Pound: USD/GBP (GBP=X) starting to drift as the demand for dollars returns The Pound has taken a belting consequent to the disorder, a dynamic compounded by the roaring greenback, to trade at 12 month lows this week. The fortunes for the pound don’t appear good, but if there is a surprisingly strong outcome to […]
British Pound: USD/GBP (GBP=X) downtrend remains in play The bearish phase that started late last week (see update on 10 Aug, spot at 1.2825) is still clearly intact as GBP eked out a fresh low of 1.2704 yesterday. As highlighted on Monday (13 Aug, spot at 1.2760), while the current decline in GBP is oversold, […]
British Pound: USD/GBP (GBP=X) pushes on downwards Cable is now at levels last seen a year ago, with no end to the slump in sight for GBP/USD. The $1.2773 level may serve as support, but if it is broken then $1.2635, $1.2589 and then $1.2366 are the next big areas to watch for possible buying pressure. […]
British Pound: USD/GBP (GBP=X) to rally as the risk of ‘no deal’ fades One of the UK’s most recognised high-street lenders have said they expect Pound Sterling to recover over coming weeks as the prospect of a ‘no deal’ Brexit fades. The call by Lloyds Bank provides some relief to those looking for a recovery in the […]
British Pound: USD/GBP (GBP=X) looks even gloomier than a week ago The future of the British pound looks even gloomier than a week ago. The statements of the British Secretary of State for International Trade Liam Fox about 60% probability of a hard version of Brexit sounded in unison with the speech of the head […]
British Pound: USD/GBP (GBP=X) fall still not over Cable at present provides a perfect demonstration of ‘what goes down…can keep going down’. There seems little stopping GBP/USD’s descent, particularly since the ‘No Deal Brexit’ background music remains in full flow. Areas of possible support come in at $1.2773 and then $1.26, while even $1.32 looks […]
British Pound: USD/GBP (GBP=X) could drop to 1.20 in the event of a no deal THE pound US dollar exchange rate is currently at around $1.290. It is down 0.3 per cent from today’s starting levels as fears of a ‘no-deal’ Brexit weigh heavily on the pound. Markets have been spooked this week by comments […]
British Pound: USD/GBP (GBP=X) headed back towards 2018 lows/key Fib support level GBP/USD has been heading below the 21-hr SMA at 1.2951 and is set on a southerly trajectory on political angst over no-Deal Brexit concerns following both Carney’s and Fox’s no deal warnings from Friday and Sunday respectively – 1.2920 was Monday’s 11-month low after […]
British Pound: USD/GBP (GBP=X) Rate Hits Worst Level Since August 2017 THE pound has had a poor start to the week, declining against the US dollar and making losses against most other currency peers. This deterioration in the pound US dollar exchange rate has put Sterling down to a level of $1.297 on fears over […]
British Pound: USD/GBP (GBP=X) Prices are Stalling GBP/USD’s sharp decline last week suggests that corrective rebound from 1.2956 has completed at 1.3212 already. Initial bias stays on the downside this week for 1.2956. Firm break there will resume larger decline from 1.4376 for 1.2874 fibonacci level next. On the upside, above 1.3064 minor resistance will […]
British Pound: USD/GBP (GBP=X) Inflation and growth forecasts raised The Bank of England has surprised foreign exchange markets by voting 9-0 to raise interest rates to 0.75% on Thursday, August 02. This would be only the second increase since the 2008 financial crisis, despite that consumer price inflation has fallen much faster this year than it or […]
British Pound: USD/GBP (GBP=X) static after UK manufacturing sector slowdown The biggest ecostat for the Pound today is likely to be the UK Manufacturing Purchasing Managers’ Index (PMI) which is forecast to soften from 54.4 to 54.2 in July. “However, if an upswing takes place or the number remains the same, Sterling might be offered […]
British Pound: USD/GBP (GBP=X) consumer confidence remains weak Cable ends Tuesday unchanged, hovering around 1.3130 ahead of FOMC and BoE. A retreat of the US dollar during the US session, sent GBP/USD back to 1.3130. The GBP/USD pair followed US dollar moves on Tuesday. Earlier today peaked at 1.3172, the highest level since last Thursday […]
British Pound: USD/GBP (GBP=X) higher as consumer credit levels rise Markets eye BOE monetary policy decision on Thursday and BOE is expected to hike rates by 25 basis point. But BOE will have minimum impact as market expects hard Brexit which will drag the Pound sterling further down.It is currently trading around 1.30980. Intraday trend […]
British Pound: USD/GBP (GBP=X) Bank of England is to deliver its interest rate decision on Thursday The Bank of England is to deliver its interest rate decision on Thursday, with most analysts expecting a quarter point rate increase. The pound was almost unchanged against the dollar late Friday, with GBP/USD at 1.3106. Overall, the bias […]
British Pound: USD/GBP (GBP=X) remains under pressure The British pound continues its recent bullish recovery from the 1.2956 level against U.S. Dollar, with sterling bulls now testing towards the key 1.3200 level. The British pound has benefitted from overall weakness in the greenback, and British PM Theresa May’s recent announcement that she is to take-over […]
British Pound: USD/GBP (GBP=X) rallying into resistance The Pound is looking like it could rise against the US Dollar owing to an absence of any fresh new bad news for the Pound. In fact for one, we actually have had some good news lately. The general outlook on Sterling exchange rates has become more and […]
British Pound: USD/GBP (GBP=X) looks like a push higher The Pound is headed back toward its post-referendum lows over the coming months. Today’s current low is above the lows from the end of last week, so a bounce above $1.3150 would suggest a broader move higher is underway, targeting $1.33 in the near term. Overall, […]
British Pound: USD/GBP (GBP=X) longer-term bearish trend might be ready for continuation The British Pound recovered in the latter-portion of last week after failing to drive through the 1.3000 level. That was the first test of the key psychological level since last year, and retail traders have been suspiciously bearish around the move, highlighting the potential for […]
British Pound: USD/GBP (GBP=X) Focus on the Brexit For the Pound, following a particularly dire week for the Pound, stats through the week ahead are limited to July’s CBI Industrial Trend Orders and UK Mortgage Approvals, neither set of numbers are likely to have a material impact on the Pound following a shift in sentiment towards […]
British Pound: USD/GBP (GBP=X) Struggling with Weak Data Data so far this week, particularly consumer price index (CPI) yesterday, has not done much to reinforce the idea that the Bank of England (BoE) will raise rates in August, impacting GBP/USD. The price is testing the area around $1.3020, the lows of yesterday’s session. Below this, […]
British Pound: USD/GBP (GBP=X) Expect the Pound to be Volatile The UK’s Brexit proposal would see the country effectively retaining full access to the EU single market for goods but losing access for services. It is closer to a “soft Brexit” than many had anticipated, angering some in the pro-Brexit camp. The proposal reflects the […]
British Pound: USD/GBP (GBP=X) mixed outlook The broader outlook for GBP/USD remains tilted to the downside especially as the Relative Strength Index (RSI) continues to track the bearish formation from earlier this year, but the exchange rate stands at risk of facing range-bound conditions as it snaps the series of lower highs & lows from […]
British Pound: USD/GBP (GBP=X) highly volatile time for the currency There is a considerable bundle of data and events in the week ahead for Sterling, which suggests it could be a highly volatile time for the currency. On the political front there will be votes on amendments to the Trade and Customs Bill, which help […]
British Pound: USD/GBP (GBP=X) Benefits From Increasing Worries Over Impact of US-China Trade War If the US trade deficit is found to have widened on the month, this could see USD exchange rates extending their downtrend tonight. Once it becomes clear how China will retaliate to the latest proposed US tariffs worries over the outlook […]
British Pound: USD/GBP (GBP=X) In Focus Ahead of Keynote Speech by Carney In today’s session, BoE Governor Mark Carney will be speaking which could spark some GBP movement. Meanwhile, investors will be looking to tomorrow’s US Consumer Price Index (CPI) release to see how inflation is faring across the pond. The final German inflation numbers […]
British Pound: USD/GBP (GBP=X) Stagnates Over Brexit Woes The pound has been hit by uncertainty in the domestic political circles in the UK as resignations from trusted ministers seek to undermine the power of the UK PM May. The British pound was frail on Tuesday after the departure of two key euro skeptic ministers raised […]
British Pound: USD/GBP (GBP=X) recovers above mid-1.32s as confidence vote fears ease The GBP/USD pair fluctuated wildly on Monday as investors continued to react to political developments in the U.K. After advancing to its highest level since June 14 at 1.3360, the pair came under a heavy selling pressure after British PM Theresa May’s office confirmed the […]
USD/GBP (GBP=X) pushes higher again Steady buying has propped up GBP/USD as well over the past week, as short-term dips from the 28 June low have found buyers. The near-term areas of resistance to watch are $1.3312 and then $1.35. While a break back below $1.3160 would negate this more bullish view. Overall, the bias in prices […]
USD/GBP (GBP=X) UK data keeps underpinning Pound The pound rose on Wednesday after a survey showing Britain’s dominant services industry gained momentum last month fuelled expectations of a Bank of England interest rate rise this summer. After a sluggish start to 2018, the British economy is showing tentative signs of a recovery with surveys this […]
USD/GBP (GBP=X) Pares Monday’s Losses • UK construction PMI betters expectations and provides a minor boost on Tuesday. • A weaker tone around the USD provides an additional boost but fails to lift it further. • Brexit uncertainties seemed to be the only factor keeping a lid on any further up-move. The GBP/USD pair struggled […]
USD/GBP (GBP=X) no light at the end of the Brexit tunnel The pair fell below the 50% retracement of its latest bullish run, and the 4 hours chart shows that is now finding sellers around a bearish 20 SMA, a few pips above the Fibonacci level, making of the 1.3140 area the immediate resistance. Technical indicators in […]
USD/GBP (GBP=X) no progress in Brexit negotiations The Pound rallied past 1.3200 against its American rival last Friday but wasn’t enough to trim weekly losses. The GBP/USD pair recovered from a fresh 2018 low of 1.3049 as UK Q1 GDP was revised higher on the back of less weak construction activity, from 0.1% to 0.2%. […]
USD/GBP (GBP=X) retracing to 1.3100 resistance after bouncing from new 2018 low Cable drops to new 8mth low of 1.3050 Little progress on Brexit expected at EU summit Ireland to start preparing for unlikely scenario of no deal Receding BoE expectations also weighing on pound The pound fell to its lowest since early November on […]
USD/GBP (GBP=X) heads for biggest drop in two weeks as dollar rebounds Sterling fell on Wednesday as the dollar rebounded, on track for its biggest daily drop in nearly two weeks, as imminent Brexit talks and doubts the Bank of England will raise interest rates at all this year darkened the outlook for the pound. […]
USD/GBP (GBP=X) falls after incoming BoE rate-setter’s comments The pound fell versus the dollar on Tuesday after an incoming Bank of England policymaker expressed caution over Britain’s readiness for higher interest rates and uncertainty over the impact of Brexit on the economy. Sterling fell as much as half a percent as economics professor John Haskel, […]
USD/GBP (GBP=X) PM May says UK to set out new Brexit details after June EU meeting Prime Minister Theresa May told the EU’s Donald Tusk on Monday that Britain would set more details on its vision for a future relationship with the bloc after a June 28-29 summit. May has struggled to find a proposal […]
USD/GBP (GBP=X) Looking for the Bottom to Solidify Technicals point to potential for an end to GBP/USD losses – Sterling will be subject to EU summit outcome on Brexit – Key for GBP/USD will be whether broader Dollar bull run extends next week The past week saw a sharp turn in fortunes for the Pound […]
USD/GBP (GBP=X) How low? Based on the hope that Brexit would bring some clarity on the political front, we have forecasting a better tone for the pound post-March 2019. Recent events, however, suggest an increased chance of the UK remaining in a quasi-customs union arrangement with the EU until the UK can put in place […]
USD/GBP (GBP=X) consolidates daily losses below 1.32 GBP/USD looks to end the day below 1.32 for the first time this year. US Dollar Index fails to break above 95. Risk appetite remains weak on Tuesday. The GBP/USD pair slumped to its worst level since November of 2017 at 1.3150 in the early NA session and went into […]
USD/GBP (GBP=X) Maintaining Negative Outlook Yet another quarter has passed and there is still no clarity on Brexit terms between Britain and the EU. In the meantime, the latest about face by the BoE at its May meeting dealt a heavy blow to GBP bulls. As mentioned above, while we maintain the view of a […]
USD/GBP (GBP=X) Dollar in Control, Carney and Powell in Focus – Elliot wave count hints at potential rebound – Keep an eye on Bank of England this week – Watch Fed’s Powell in Sintra, Portugal Pound Sterling slumped back towards May lows last week after the U.S. Dollar renewed its assault against international rivals and […]
USD/GBP (GBP=X) stays under pressure below 1.33 as greenback preserves its strength GBP/USD erases more than 150 pips from its daily highs. US Dollar Index approaches the critical 95 mark. UK government official expects a desired Brexit outcome. The USD’s strength remains as the main theme of the FX space on Thursday. The GBP/USD pair, which touched […]
USD/GBP (GBP=X) heading for a test of the 200-hr SMA ahead of the FOMC GBP/USD entered NY heavy, falling from 1.3366 to 1.3308 the low after the market felt that the CPI data, slightly lower than forecasts but unchanged from April’s reading, was not enough for the BoE to think about raising rates in August. UK CPI […]
USD/GBP (GBP=X) Continues to Trade in a Choppy Manner Traders also focus on Average Earnings Index +Bonus (Apr), Claimant Count Change (May) & Unemployment rate data in UK’s market hours and Core CPI data in US market hours. UK’s macro data is expected to be dovish during today’s session and this could add further bearish […]
USD/GBP (GBP=X) Target 1.3180 Pound Sterling (GBP) was forced to end last week’s session on a bit of a down as the currency was undermined by comments from EU Brexit Negotiator, Michel Barnier. In another blow to the UK’s Brexit position, Barnier told journalists that he rejects Theresa May’s proposal for the UK to stay […]
USD/GBP (GBP=X) Forecast to 1.3040 GBP/USD correction to the level of 1.3615 is expected to continue by 65% of analysts. The next resistance is at the height of 1.3700, however, only 45% of experts vote for such growth. Graphical analysis on D1 also believes that the correction will be completed in the zone 1.3615, after […]
USD/GBP (GBP=X) Forecast to 1.3200 From a technical perspective, the pair remains close to its immediate strong hurdle near mid-1.3400s, which if cleared decisively would suggest a bullish breakout and accelerate the recovery move. Above the mentioned barrier, the pair is likely to surpass the key 1.3500 psychological mark and head towards an important congestion […]
USD/GBP (GBP=X) Buy at 1.3200 The GBP/USD is trading up 0.2% at around 1.3440, the highest level since May 23 against the US Dollar ahead of the Bank of England Deputy Governor Sir David Ramsden speaking later on Thursday on Barclays inflation conference. GBP/USD was well supported earlier this week after the UK services PMI […]
USD/GBP (GBP=X) Target 1.3650 Overall, the bias in prices is: Downwards. By the way, prices are vulnerable to a correction towards 1.36. The projected upper bound is: 1.36. The projected lower bound is: 1.32. The projected closing price is: 1.34. Candlesticks A white body occurred (because prices closed higher than they opened). During the past […]