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) oversold marginally likely to continue The Pound-to-Dollar exchange rate is trading at 1.2714 at the start of the new trading week after collapsing over 2.2% in the week before. The decline came as a result of the collapse of cross-party Brexit talks which had promised to deliver a possible softer ‘customs-union’ […]
British Pound: USD/GBP (GBP=X) Influencing Events The Sterling investors wait for the BOE’s Jonathan Haskel comments over the UK’s economic conditions. Haskel’s statements might find some impact on the pair laterwards as this is the only event for GBP today. The USD-specific events have occupied mainly the primary space in the event calendar than the […]
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) investors will be watching employment, inflation and retail sales this week GBP/USD showed little movement last week. It’s a busy week in the U.K, with employment, inflation and retail sales reports. Here is an outlook for the highlights of this week and an updated technical analysis for GBP/USD. Britain and the EU agreed […]
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) is awaiting a breakthrough in the Brexit deadlock GBP/USD has been consolidating between the top end of the 1.29 handle and the lower end of the 1.33 handle, for the most part, with a brief test of the 50% Fibo of the mid-April highs to flash crash lows at the start […]
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) continues to be very difficult to follow The British pound rallied significantly during the trading session on Monday, testing the highs from the Friday candle rather early during the day as we continue to see a lot of consolidation in a market that of course has been very noisy. After all, we […]
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) Ticks Higher Ahead of Brexit Indicative Votes and US House Data Despite persistent concerns that a no-deal Brexit is possible if no Brexit solution is reached in the coming weeks, the British Pound to US Dollar exchange rate edged higher today. Hopes for a solution to be reached kept Sterling buoyed […]
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) Risks To Downside The Pound US Dollar (GBP/USD) exchange rate clinched a second week of appreciation, spurred higher by a wave of Brexit-based optimism. Against the US Dollar, the £ cross gained 1.15% and was seen edging higher into Monday’s session, trading at $1.32416 at the time of writing. It’s a […]
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) pushes lower The GBP/USD price has created a new lower low in its current downtrend, as the dollar strength hurt sterling hard yesterday and has been in evidence already this morning. Rallies should continue to be sold until we see a higher high and, for the moment, that requires a move back above […]
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) still on the back foot If GBP/USD has turned a corner longer term, it needs to start thinking about creating a higher low, preferably above $1.26. For now, the downtrend from last April seems to have turned into a consolidation phase over the past few months, with rallies towards $1.32 followed by retracements […]
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) BoE cuts growth forecasts but Sterling re-traces the sell-off A tough week for trying to value Sterling looking forward with a mildly dovish Bank of England Report having only a short-term negative effect on GBP, while the Irish backstop problem becomes seemingly even more entrenched. We do not like changing forecasts on […]
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) upcoming week’s key events are the BoE rate announcement and inflation report After a string of weekly gains, cable headed lower last week. Parliament revisited the withdrawal agreement, but the confusion over a post-Brexit remains. Lawmakers indicated that they oppose a no-deal and sent Theresa May back to Brussels to renegotiate […]
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) breaks through notable resistance level GBP/USD managed to rally through the key $1.3175 resistance level on Friday, with the pair breaking out of a long-term downtrend ahead of today’s parliamentary vote. Technically speaking, expect this uptrend to continue as long as we do not break below the $1.3012 level. Thus, further upside […]
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) eyes up $1.30 Employment figures yesterday bolstered GBP/USD, reviving the uptrend. A fresh push above $1.30 will mark a bullish breakout, targeting $1.304 and then $1.32. A firm move below $1.28 is needed to suggest that the sequence of higher lows has been broken. Overall, the bias in prices is: Upwards. By […]
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) continues to decline from 76.4% resistance GBP/USD has been weakening consistently since hitting the 76.4% resistance level of $1.30. Whether this is simply another short-term retracement or the beginning of a wider bearish shift for the pair remains to be seen. However, with a minimal rebound this morning being sold into straight […]
British Pound: USD/GBP (GBP=X) could soar against USD David Bloom, global head of FX research at HSBC Holdings Plc, said Britain’s biggest bank had “become more upbeat” on their view for Sterling, after months of volatility for the pound off the back of Brexit uncertainty. The pound has remained sensitive to Brexit movement and has […]
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: […]
British Pound: USD/GBP (GBP=X) recent rejections suggest we might see a bearish continuation The GBP/USD has been ranging but recent rejections suggest we might see a bearish continuation on a 4h / D1 close below Weekly PP. Technically the price has just closed below Weekly pivot and trend line confluence while still being capped below W […]
British Pound: USD/GBP (GBP=X) short-term “Rising-Wedge” With the short-term “Rising-Wedge” directing GBPUSD moves, the pair has to slid beneath the 1.2640 support in order to justify the bearish formation and aim for 1.2530. Should prices weaken under 1.2530, the 1.2475, the 1.2400 and the 61.8% FE level of 1.2365 can become Bears’ favorites. Meanwhile, pair’s sustained […]
British Pound: USD/GBP (GBP=X) looks to break higher Having been knocked back yesterday, GBP/USD is breaking higher and testing the descending trendline from the November highs. Above $1.27, the price will head to $1.28 and then on to $1.29. Dips towards $1.26 may prove to be fresh buying opportunities. Overall, the bias in prices is: Downwards. By […]
British Pound: USD/GBP (GBP=X) rally takes us back above 61.8% resistance Once again, GBP/USD rose into the 61.8% level, with the pair looking to have made an ABC three-legged retracement of the decline from $1.2912. A rally through that swing high would point towards a likely period of upside. Until then, there is a good chance that […]
British Pound: USD/GBP (GBP=X) on the up for now GBP/USD continues to rebound from the lower low created last week, but it now needs to clear trendline resistance from the November highs, which would suggest a push to $1.27. A failure to maintain these gains would be another selling opportunity. Above $1.27 the $1.2773 area comes […]
British Pound: USD/GBP (GBP=X) regaining ground after head and shoulders breakdown GBP/USD spent the end of last week falling after completing a head and shoulders formation. We are seeing the pair regain ground this morning, bringing about a possibility of a wider 76.4% retracement beyond the 61.8% retracement seen last week. However, there is also a […]
British Pound: USD/GBP (GBP=X) Brexit saga remains on the minds of nervous investors GBP/USD suffered its worst week since October, falling over 1 percent. The Brexit saga remains on the minds of nervous investors. There are key numbers on both sides of the pond in the upcoming week. The U.K releases CPI and retail sales this week, […]
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 […]