British Pound: USD/GBP (GBP=X) $1.27 may be another selling opportunity Last night’s win by UK Prime Minister Theresa May was already priced in, GBP/USD having moved smartly off the lows during the day. But having broken sharply lower earlier in the week the pair has now created a lower low and a lower high. Any rally that […]
British Pound: USD/GBP (GBP=X) rebound unlikely to last Overall, the bias in prices is: Downwards By the way, prices are vulnerable to a correction towards 1.29. The projected upper bound is: 1.29. The projected lower bound is: 1.24. The projected closing price is: 1.26. Candlesticks A big white candle occurred. This is generally considered bullish, […]
British Pound: USD/GBP (GBP=X) in retracement mode after recent declines GBP/USD has been in a steep decline in the early part of the week, with the price falling into a 19-month low. This bearish trend is likely to persist despite the current rebound, with these gains instead looking likely to provide a good shorting opportunity. With […]
British Pound: USD/GBP (GBP=X) lifted on Article 50 news Cable has seen strong gains as a European judge weighs in on Article 50 but rallies here over the past few weeks have merely been the cue for fresh selling. The GBP/USD pair created a new lower high and lower low in the intraday charts yesterday, so any […]
British Pound: USD/GBP (GBP=X) rally proving short-lived GBP/USD has been moving sharply higher this morning, yet just like EUR/USD, we are seeing the 76.4% Fibonacci resistance level respected. The trend over the past week has been one of consolidation, with a failure to break below the crucial $1.2661-$1.2696 support zone meaning we still await the next […]
British Pound: USD/GBP (GBP=X) downside may be limited Fundamental Forecast for EUR/USD: Neutral – Both Italian politicians and European policymakers in Brussels remain entrenched in their respective negotiating positions, and now the European Commission is ready to punish Italy. – EUR/USD downside may be somewhat limited, particularly after the US Dollar’s fundamental backdrop eroded last […]
British Pound: USD/GBP (GBP=X) rallies on Powell speech While cable bounced following the Federal Reserve (Fed) chair Jerome Powell speech, it has failed to create a new higher high for GBP/USD, stuck at $1.285. We may see fresh selling pressure emerge. A move above $1.29 is needed to put a more bullish view on the pair. […]
British Pound: USD/GBP (GBP=X) consolidating at key support level GBP/USD has managed to remain above the $1.2823 support level this morning, following a fall into the crucial $1.2723 support level. The bearish trend looks likely to sustain given the rising likeliness of a harder form of Brexit, with UK Prime Minister Theresa May’s proposal failing to […]
British Pound: USD/GBP (GBP=X) slumps as Brexit worries weigh Expectations of a frosty reception in Parliament for the UK’s Withdrawal Agreement have driven more downside in GBP/USD, and the price is now heading towards the lows of late October at $1.2680, and then the August low at $1.2661. Rallies of late have run into heavy selling […]
British Pound: USD/GBP (GBP=X) turning higher after recent decline GBP/USD sold off sharply on Friday, as the pair continues to exhibit strong retracements within its recent recovery. There are still questions over whether we are currently seeing a retracement of the $1.3072-$1.2724 sell-off. However, for now it looks likely we will overcome the $1.2927 peak from […]
British Pound: USD/GBP (GBP=X) remains stuck in a range The Pound-to-Dollar exchange rate is set to open the new week at 1.2822 ensuring it remains set in a sideways range between roughly 1.2650 and 1.3300. Last week it moved in an even narrower range within that range, closing at 1.2818 only a tenth of a […]
British Pound: USD/GBP (GBP=X) hovers above support The price of GBP/USD has been pushed back to support at $1.2773 but is holding for now. Further declines would target $1.2720, the low from last Thursday, while a bounce would have to clear $1.2870 and then break trendline resistance from the November high at $1.3160 to suggest the buyers […]
British Pound: USD/GBP (GBP=X) drop could point towards the next leg lower GBP/USD fell below the $1.2794 support level yesterday, raising the chances of further downside for the pair. The recent rebound always looked like a retracement, yet the size of that rebound is always going to be difficult to anticipate. However, with the failure […]
British Pound: USD/GBP (GBP=X) stalls at $1.29 While GBP/USD has rallied off the lows from last week, gains above $1.29 have not been forthcoming. A close above this level would open the way to $1.30, the peak from the first half of November, while a fresh drop targets $1.2773 and then $1.269. Overall, the bias in prices […]
British Pound: USD/GBP (GBP=X) continues to climb after recent sell-off GBP/USD is continuing its ascent following the sharp deterioration through last week. This looks likely to be a retracement, yet given the size of the initial downturn, it is likely that we will see further upside in the near term as the pair forms a deeper […]
British Pound: USD/GBP (GBP=X) focus on Brexit The rally of GBP/USD earlier in the week has faltered, and the price finds itself back below $1.305. Further declines will head towards $1.28, the lows from earlier in the week, while a rally above $1.305 would open the way to $1.32. With headlines appearing throughout the day, the pair […]
British Pound: USD/GBP (GBP=X) rocked by Brexit headlines The rally of GBP/USD earlier in the week has faltered, and the price finds itself back below $1.305. Further declines will head towards $1.28, the lows from earlier in the week, while a rally above $1.305 would open the way to $1.32. With headlines appearing throughout the day, the […]
British Pound: USD/GBP (GBP=X) falters at 61.8% retracement GBP/USD has been gaining ground as markets digest the potential culmination of Brexit talks which have produced a proposal for parliament and EU member states to consider. There is undoubtedly a chance that this could be the beginning of a wider recovery if the agreement was voted through. However, it […]
British Pound: USD/GBP (GBP=X) still under pressure GBP/USD created a new lower high last week, and further declines will target $1.2773. A bounce from intraday oversold conditions needs to clear $1.295 to suggest more near-term upside. A failure to push above here would bring out more selling pressure, and below $1.2827, Monday’s low. The price heads […]
British Pound: USD/GBP (GBP=X) moved into a consolidation phase Despite the strong surge in GBP early this month, we have held the same view since last Wednesday (07 Nov, spot at 1.3100) wherein “it would be surprising if the rebound in GBP could break 1.3190” (GBP subsequently traded to a high of 1.3176). However, the […]
British Pound: USD/GBP (GBP=X) UK gross domestic product proved positive The Pound Sterling to US Dollar (GBP/USD) exchange rate failed to hold onto gains made in the wake of the US midterm elections on Friday. Although the headline third quarter UK gross domestic product proved positive this was not enough to shore up Pound Sterling. […]
British Pound: USD/GBP (GBP=X) finds further strength Brexit optimism and a weaker dollar continues to support the GBP/USD. An early dip to $1.31 found buyers, and further gains target yesterday’s highs around $1.3175. So far dips have been bought, so a move back below $1.305 is needed to reverse the broadly bullish outlook. Overall, the bias […]
British Pound: USD/GBP (GBP=X) pushes past Fibonacci resistance GBP/USD has managed to regain a significant amount of ground, with the combination of a more hawkish Bank of England (BoE) outlook coupled with a post-midterm election decline in the dollar helping push the pair past the 76.4% retracement. That raises the chance of a wider bullish breakout above […]
British Pound: USD/GBP (GBP=X) solidifies hold above $1.3050 Cable has managed to move GBP/USD above the $1.3050 area that provided resistance at the end of last week. Further gains would head towards possible resistance at $1.32 and then $1.33. A bearish view would prevail with a move back below $1.2950. Overall, the bias in prices is: Sideways. […]
British Pound: USD/GBP (GBP=X) weakening from confluent resistance GBP/USD managed to push sharply higher towards the end of last week, with the price rallying into Fibonacci and moving average resistance. That confluence of the 61.8% retracement, alongside the 200-day simple moving average (SMA), provides a potential turning point for the market. That being said, there is […]
British Pound: USD/GBP (GBP=X) Benefit from Improved UK Services PMI or GDP The GBP/USD exchange rate could return to an uptrend on Monday, however, if the UK services PMI for October proves encouraging. As the service sector remains the growth engine of the UK economy an uptick here could give investors fresh incentive to pile […]
British Pound: USD/GBP (GBP=X) surges on Brexit news News of a deal between the EU and the UK over financial services has bolstered GBP/USD, with the pair recovering ground lost over the past week. We may have a change of short-term trend here, although it will be important to watch how the price behaves around intraday […]
British Pound: USD/GBP (GBP=X) rallies into trendline resistance GBP/USD has turned higher in early trade, with the pair hitting trendline resistance. There is a strong chance that this is simply another short-term rebound before we see another bearish reversal for the pair. As such, it makes sense to remain bearish unless we break through the $1.2853 […]
British Pound: USD/GBP (GBP=X) back to the lows GBP/USD has fallen to a new two-month low this morning, and a close below the $1.2770 lows of last week would suggest that a move to the August lows at $1.2661 is in play. A recovery above $1.2860 would suggest that some bullish strength is developing. Overall, the […]
British Pound: USD/GBP (GBP=X) turns lower despite stochastic breakout GBP/USD is turning lower yet again, following on from a rebound off the $1.2785 support level on Friday. That rebound from the September low coincided with the stochastic breaking higher from a wedge/triangle formation, thus pointing towards a potential period of upside to come. However, until we […]
British Pound: USD/GBP (GBP=X) bears remain in control The Pound-to-Dollar rate fell to fresh lows of 1.2777 on Friday after solid growth data lifted the greenback while Sterling remained on its back foot due to unfavourable Brexit news-flow. There is an old Wall Street saying that the “trend is your friend until the bend at […]
British Pound: USD/GBP (GBP=X) focus on is at 1.2790 We first highlighted the possibility of a move to 1.2920/25 last Friday (19 Oct, spot at 1.3020) wherein we indicated a “break of 1.3000 would shift the focus to 1.2920/25”. The price action since then is line with our expectation even though the ease of which […]
British Pound: USD/GBP (GBP=X) falling back towards crucial support level GBP/USD is falling once more, with the pair moving closer to the crucial $1.2922 support level. The falling wedge seen throughout the past week is pointing towards a potential bullish break at some point. However, the ability to break below $1.2922 is the real signal for […]
British Pound: USD/GBP (GBP=X) bounces for now After yesterday’s losses, GBP/USD is rebounding for the time being, although it remains firmly in a downtrend from the highs of mid-October. Rallies to $1.31 may find fresh selling, but a close above this level would at least generate a new higher high. The October low at $1.2922 could be […]
British Pound: USD/GBP (GBP=X) attempting to rebound from trendline support GBP/USD is regaining ground this morning, following on from a pullback into trendline support last week. The ability to break through the $1.3131 resistance would bring greater confidence for a push into the descending trendline resistance, which forms the top of a symmetrical triangle. As such, […]
British Pound: USD/GBP (GBP=X) tests key moving average While the price is holding above the 50-day simple moving average (SMA) at $1.3005, the overall picture for GBP/USD seems bearish given the declines seen over the past week. It would require a close above $1.32 to reverse this view. Further declines target $1.2926, and then down to $1.2773. […]
British Pound: USD/GBP (GBP=X) falls below key support level GBP/USD has managed to break below the $1.3098 support level, bringing about expectation of further downside from here. Given the failure to create a new high above $1.3299, there is a distinct possibility that we are going to see a further breakdown. However, a break below the […]
British Pound: USD/GBP (GBP=X) turning lower after failed attempt to break resistance GBP/USD has failed to rally through the $1.3258 swing high, raising doubts about the longevity of this rebound. The direction for this pair will be determined by a break through $1.3258 or $1.3098. A drop below that $1.3098 low points towards a potential wider […]
British Pound: USD/GBP (GBP=X) still on the up Despite the mixed signals on Brexit, GBP/USD has rallied once again. Fresh gains target $1.3250, and then on to the September high at $1.33. The bullish view remains unless we see a close below $1.31. Overall, the bias in prices is: Sideways. By the way, prices are vulnerable to […]
British Pound: USD/GBP (GBP=X) tumbles after Brexit deadlock holds GBP/USD has started the week in bearish fashion, with the inability for the UK and EU to find a positive conclusion to negotiations highlighting the potential for further downside in the near term. The path for the pound will be determined by the outlook for negotiations and […]
British Pound: USD/GBP (GBP=X) lifted by Brexit hopes GBP/USD continues to see gains, with intraday weakness still finding buyers. The next stop is the $1.33 area, while dips below $1.317 would potentially suggest that indecision is setting in ahead of the weekend. Overall, the bias in prices is: Sideways. By the way, prices are vulnerable to […]
British Pound: USD/GBP (GBP=X) buoyed by Brexit hopes GBP/USD has climbed steadily since the low last week, and since then each intraday sell-off has been met by buying. With the price back above $1.32 a run towards $1.33 is now on the cards, and a close above this level in the longer term opens the way […]
British Pound: USD/GBP (GBP=X) pulling back after recent ascent GBP/USD has been an outperformer of late, with yesterday proving no different. The pair managed to rally into an October high to continue the short-term bullish trend. While we are looking likely to retrace some of the gains seen yesterday, a bullish short-term outlook remains unless we […]
British Pound: USD/GBP (GBP=X) still on the up despite weakness While the price has dropped back from yesterday’s highs, the powerful rebound from $1.304 suggests the move higher will resume soon for GBP/USD. Above $1.314, the price will head towards $1.32 and then the highs of September above $1.33. A close below $1.304 is needed to […]
British Pound: USD/GBP (GBP=X) rallies through key resistance Hopes of a Brexit breakthrough have helped push GBP/USD through the crucial $1.3118 level. This brings about a greater chance that the pair will move into a more bullish phase, with the previous price action taking on a bullish falling wedge formation. Much of this will be […]
British Pound: USD/GBP (GBP=X) Uptrend Might be Resuming It is a testament to the turnaround in market perceptions of the Pound that it outperformed the U.S. Dollar last week, despite the fact that the Dollar has been one of the strongest currencies in the G10 of late. GBP/USD rose mainly on easing Brexit concerns after […]
British Pound: USD/GBP (GBP=X) still on a lower trajectory Rallies have been sold into over the past two weeks, so any move that fails to recover $1.3030 would still be another selling opportunity for GBP/USD. Below $1.2923, the price will target $1.2773 and then $1.2635. Overall, the bias in prices is: Sideways. The projected upper bound […]
British Pound: USD/GBP (GBP=X) on a downward path GBP/USD lost the rising trendline that had held since mid-August, continuing its decline from $1.33. Further losses will target $1.2940, the low from Tuesday, and then below this, $1.2773. A recovery above $1.3121 would be needed to suggest that the buyers are back in charge. Overall, the bias […]
British Pound: USD/GBP (GBP=X) continues downturn GBP/USD has dropped into a near three-week low, with the pair looking set for further downside from here. The downtrend seen since the $1.3298 peak is likely to persist, even if we are looking at a retracement. We would need to see a break through $1.3117 to pave the way […]
British Pound: USD/GBP (GBP=X) turning higher after recent decline GBP/USD has seen a sharp decline below $1.3055 over the past week, with the price creating a new lower low after the recent 61.8% upside retracement. Despite the broader uptrend over the past month, there is a possibility we could see this move as a wider retracement […]
British Pound: USD/GBP (GBP=X) uptrend and reached solid support The Pound-to-Dollar exchange rate took a modest hit last week after the U.S. Dollar strengthened following a positive endorsement of the economy by Jerome Powell, the chairman of the Federal Reserve which suggests the path for U.S. interest rates will remain higher for a good while longer. GBP/USD fell […]
British Pound: USD/GBP (GBP=X) lower due to the rally in the US dollar GBP/USD is also lower due to the rally in the US dollar. It was a quiet day in terms of economic indicators from the UK, so today’s move was dollar driven. The lack of clarity in relation to Brexit will continue to hang […]
British Pound: USD/GBP (GBP=X) continues to gain ground within likely retracement GBP/USD has been regaining ground following on from the deterioration through the $1.3098 swing low. That break points towards a strong possibility of another shift lower before long, thus highlighting the importance of the Fibonacci resistance up ahead. With this in mind, there is a […]
British Pound: USD/GBP (GBP=X) remains in an uptrend GBP/USD recovered from Friday’s slump, creating a higher low as it held above $1.3040 support. Further gains target $1.3204 and then $1.33. A drop below $1.3040 would suggest a move back towards rising support, around $1.2990. An ongoing failure to break $1.33 raises the prospect of a continuation […]
British Pound: USD/GBP (GBP=X) instigates fight back after recent decline GBP/USD dropped out of its recent uptrend, with the break below $1.3097 pointing towards further losses to come. The fall below the descending trendline support on the stochastic adds to that notion that we are now in a more bearish phase, with the fears over Brexit […]
British Pound: USD/GBP (GBP=X) reverses lower after break through key resistance GBP/USD managed to rally through the $1.3212 level yesterday, with the sellers coming in overnight to bring us back to that same level. The uptrend seen through recent weeks points towards a strong possibility of further upside to come, with a break below $1.3097 required […]
British Pound: USD/GBP (GBP=X) turning higher after yesterday’s volatility GBP/USD is also gaining ground in early trade, with the pair attempting to push higher after falling below trendline support. That break could provide the first signal of an impending downturn. However, with the price not having broken below the $1.3056 swing low, we have not yet […]
British Pound: USD/GBP (GBP=X) faces key resistance The uptrend continues for GBP/USD, but so far this week gains above $1.3170 have proved fleeting. A breakout above this level targets $1.32, and then on to $1.3302. A move below $1.2940 would be needed to end the current bullish trend from the August lows. Overall, the bias in […]
British Pound: USD/GBP (GBP=X) sails higher Gains continue for GBP/USD, with the price heading on towards $1.32. The bullish view remains in place until we see a drop back below $1.2950. Further upside targets lie at $1.3204, and then $1.3358. Overall, the bias in prices is: Sideways. The projected upper bound is: 1.33. The projected lower […]
British Pound: USD/GBP (GBP=X) continues to push upwards GBP/USD has also retraced, with the pair moving back into trendline support. The recent uptrend points towards another potential shift higher from here, with a break below $1.2979 required to negate this recent rally. The price is trading within a bearish rising wedge formation, yet it’s worthwhile noting […]
British Pound: USD/GBP (GBP=X) remains in a short-term uptrend The Pound-to-US Dollar exchange rate crossed the 1.30 Rubicon last week when it rose from an open price of 1.2927 to a close, on Friday, of 1.3066 after Brexit risks subsided on the back of hopes of a deal being brokered. From a technical standpoint there […]
British Pound: USD/GBP (GBP=X) continues to grind higher GBP/USD has been pushing higher over the past fortnight, with the pair hitting the highest level in a month on Tuesday. However, despite attempting to break through that peak, we have seen the pair fail to overcome this week’s high of $1.3088. This may not necessarily be a […]
British Pound: USD/GBP (GBP=X) seeks to maintain bullish phase GBP/USD has been regaining ground over the past week, fueled for the most part by shifts in perception over Brexit talks. We have seen the pair drift lower since yesterday’s peak. However, with this weakness comes expectations of another push higher before long. So far, we have […]
British Pound: USD/GBP (GBP=X) pushed higher by Brexit optimism GBP/USD has finally managed to break above the downtrend line from the May highs. If the price succeeds in closing above $1.3040 then the breakout will target the $1.3205 area. A move back below $1.30 reignites the bearish move and suggests a move back to $1.2773. Overall, […]
British Pound: USD/GBP (GBP=X) headed lower once more Another Brexit-related spike on Friday was swiftly defeated, and the GBP/USD price has headed back to $1.29. Below this, $1.2773 and then $1.2635 come into play. A close above $1.3040 is needed to create a more bullish impression. Overall, the bias in prices is: Sideways. The projected upper bound […]
British Pound: USD/GBP (GBP=X) remains intact on balance despite recent weakness It is a busy week for UK data with several key data releases, and the Bank of England (BOE) meeting scheduled to finish on Thursday at 12.00 B.S.T. The BOE raised interest rates by 0.25% at their August meeting but they are not expected […]
British Pound: USD/GBP (GBP=X) rises on Brexit optimism Yet more Brexit headlines rocked sterling yesterday, but it was enough to push GBP/USDfurther above $1.28 support. From here, we’ll start to see the $1.3040 level, along with downtrend resistance from the May highs. A drop below $1.2773 brings the $1.26 level into view. Overall, the bias in […]
British Pound: USD/GBP (GBP=X) turning towards key support level once more GBP/USD is breaking lower from trendline resistance this morning, following on from a period of downside since Thursday. There is a strong possibility that we are on the cusp of a bearish breakdown for the pair, and traders need to keep a close eye out […]
British Pound: USD/GBP (GBP=X) creates new lower high Declines continue here, with GBP/USD having created a new lower high at $1.30, faltering at the 50-day simple moving average (SMA). Further losses will bring support at $1.27 and then $1.26 into view. A bounce from above $1.28 would create a new higher low in the current short-term move […]
British Pound: USD/GBP (GBP=X) falls into trendline support GBP/USD has dropped at the start of the week, following negative Brexit rhetoric from the EU. This has brought us back into trendline support, with the question over whether we are set for another rebound coming into play. A break below $1.2845 and $1.2799 would signal another wider […]
British Pound: USD/GBP (GBP=X) Labour Productivity and July Trade Figures due Wednesday For the Pound, stats include 2nd quarter labour productivity and July trade figures on Wednesday, July building permits on Thursday and August employment and PMI numbers due out on Friday. Outside of the stats NAFTA talks and Wednesday’s interest rate decision will be in […]
British Pound: USD/GBP (GBP=X) breaks through resistance after Brexit breakthrough GBP/USD managed to rally through trendline and horizontal resistance ($1.2936) this week, with an apparent breakthrough in Brexit negotiations leading to gains for the pair. With the ascent slowing, there is a chance we could soon see some form of retracement. However, until we break […]
British Pound: USD/GBP (GBP=X) turns lower from trendline resistance GBP/USD sold off from a descending trendline yesterday, bringing the wider downtrend into play. The ability to break below the $1.2799 low will be crucial in determining whether this is the beginning of another leg lower for the pair. Alternatively, watch for a potential break above the $1.2936 […]
British Pound: USD/GBP (GBP=X) has moved into a consolidation phase GBP tested the strong 1.2800 support last Friday (exact low of 1.2800) before rebounding. The recovery has improved the underlying tone somewhat but it is too early to expect the start of a bullish phase. In other words, we continue to expect GBP to consolidate […]
British Pound: USD/GBP (GBP=X) Remains Under Pressure The Technical Confluences Indicator shows that cable faces a dense cluster of resistance levels at around 1.2862. This includes the Bolinger Band 15m-Middle, the Simple Moving Average 10-15m, the SMA 5-1h, the Fibonacci 38.2% one-week, the Fibonacci 23.6% one-day, the BB 15m-Middle, the SMA 100-1h, the BB 4h-Middle, […]
British Pound: USD/GBP (GBP=X) runs into problems around $1.29 Silver markets have grounds sideways for some time, over the last several days. The $14.80 level has been a bit of an anchor for price, but above there I see the $15.00 level as being massive resistance. Short-term rallies will of course offer selling opportunities as […]
British Pound: USD/GBP (GBP=X) rebound likely to provide selling opportunity GBP/USD has similarly been gaining ground over the past week, with the price approaching the 50% Fibonacci retracement overnight. There is a good chance we could see further upside over the near term. However, this looks like a retracement of the $1.3212-$1.2661 decline, and thus it […]
British Pound: USD/GBP (GBP=X) rises as Donald Trump criticises Fed The Dollar fell Tuesday after President Donald Trump lashed out at the Federal Reserve for its recent approach to US monetary policy, prompting fears of a slowdown in the pace at which the central bank raises its interest rate. In a Reuters interview, Trump said […]
British Pound: USD/GBP (GBP=X) run into some element of support The pound isn’t exactly in demand this morning as a survey from the Institute of Directors (IoD) revealed a -16 per cent drop in confidence among UK business leaders. Approximately 44 per cent of leaders attributed their falling confidence to concerns about future trade with […]
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 […]