British Pound: USD/GBP (GBP=X) falls below key support level

British Pound: USD/GBP (GBP=X) falls below key support level

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

British Pound: USD/GBP (GBP=X) turning lower after failed attempt to break resistance

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) tumbles after Brexit deadlock holds

British Pound: USD/GBP (GBP=X) tumbles after Brexit deadlock holds

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

British Pound: USD/GBP (GBP=X) lifted by Brexit hopes

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) pulling back after recent ascent

British Pound: USD/GBP (GBP=X) pulling back after recent ascent

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

British Pound: USD/GBP (GBP=X) still on the up despite weakness

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

British Pound: USD/GBP (GBP=X) rallies through key resistance

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) still on a lower trajectory

British Pound: USD/GBP (GBP=X) still on a lower trajectory

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

British Pound: USD/GBP (GBP=X) on a downward path

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) turning higher after recent decline

British Pound: USD/GBP (GBP=X) turning higher after recent decline

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

British Pound: USD/GBP (GBP=X) uptrend and reached solid support

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) continues to gain ground within likely retracement

British Pound: USD/GBP (GBP=X) continues to gain ground within likely retracement

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

British Pound: USD/GBP (GBP=X) remains in an uptrend

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

British Pound: USD/GBP (GBP=X) instigates fight back after recent decline

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

British Pound: USD/GBP (GBP=X) reverses lower after break through key resistance

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

British Pound: USD/GBP (GBP=X) turning higher after yesterday’s volatility

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

British Pound: USD/GBP (GBP=X) faces key resistance

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

British Pound: USD/GBP (GBP=X) sails higher

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

British Pound: USD/GBP (GBP=X) continues to push upwards

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) continues to grind higher

British Pound: USD/GBP (GBP=X) continues to grind higher

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

British Pound: USD/GBP (GBP=X) seeks to maintain bullish phase

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

British Pound: USD/GBP (GBP=X) pushed higher by Brexit optimism

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

British Pound: USD/GBP (GBP=X) headed lower once more

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

British Pound: USD/GBP (GBP=X) remains intact on balance despite recent weakness

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

British Pound: USD/GBP (GBP=X) rises on Brexit optimism

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

British Pound: USD/GBP (GBP=X) turning towards key support level once more

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

British Pound: USD/GBP (GBP=X) creates new lower high

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

British Pound: USD/GBP (GBP=X) falls into trendline support

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

British Pound: USD/GBP (GBP=X) Labour Productivity and July Trade Figures due Wednesday

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

British Pound: USD/GBP (GBP=X) breaks through resistance after Brexit breakthrough

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

British Pound: USD/GBP (GBP=X) turns lower from trendline resistance

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

British Pound: USD/GBP (GBP=X) has moved into a consolidation phase

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

British Pound: USD/GBP (GBP=X) Remains Under Pressure

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

British Pound: USD/GBP (GBP=X) runs into problems around $1.29

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

British Pound: USD/GBP (GBP=X) rebound likely to provide selling opportunity

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

British Pound: USD/GBP (GBP=X) rises as Donald Trump criticises Fed

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

British Pound: USD/GBP (GBP=X) run into some element of support

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

British Pound: USD/GBP (GBP=X) eyes Bank of England, USD Fed and China trade talks

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

British Pound: USD/GBP (GBP=X) starting to drift as the demand for dollars returns

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) to rally as the risk of ‘no deal’ fades

British Pound: USD/GBP (GBP=X) to rally as the risk of ‘no deal’ fades

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) fall still not over

British Pound: USD/GBP (GBP=X) fall still not over

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) headed back towards 2018 lows/key Fib support level

British Pound: USD/GBP (GBP=X) headed back towards 2018 lows/key Fib support level

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) Prices are Stalling

British Pound: USD/GBP (GBP=X) Prices are Stalling

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

British Pound: USD/GBP (GBP=X) Inflation and growth forecasts raised

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

British Pound: USD/GBP (GBP=X) static after UK manufacturing sector slowdown

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

British Pound: USD/GBP (GBP=X) consumer confidence remains weak

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

British Pound: USD/GBP (GBP=X) higher as consumer credit levels rise

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

British Pound: USD/GBP (GBP=X) Bank of England is to deliver its interest rate decision on Thursday

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

British Pound: USD/GBP (GBP=X) remains under pressure

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) longer-term bearish trend might be ready for continuation

British Pound: USD/GBP (GBP=X) longer-term bearish trend might be ready for continuation

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

British Pound: USD/GBP (GBP=X) Focus on the Brexit

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

British Pound: USD/GBP (GBP=X) Struggling with Weak Data

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

British Pound: USD/GBP (GBP=X) Expect the Pound to be Volatile

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) Benefits From Increasing Worries Over Impact of US-China Trade War

British Pound: USD/GBP (GBP=X) Benefits From Increasing Worries Over Impact of US-China Trade War

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

British Pound: USD/GBP (GBP=X) In Focus Ahead of Keynote Speech by Carney

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

British Pound: USD/GBP (GBP=X) Stagnates Over Brexit Woes

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

British Pound: USD/GBP (GBP=X) recovers above mid-1.32s as confidence vote fears ease

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) UK data keeps underpinning Pound

USD/GBP (GBP=X) UK data keeps underpinning Pound

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) retracing to 1.3100 resistance after bouncing from new 2018 low

USD/GBP (GBP=X) retracing to 1.3100 resistance after bouncing from new 2018 low

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

USD/GBP (GBP=X) heads for biggest drop in two weeks as dollar rebounds

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

USD/GBP (GBP=X) falls after incoming BoE rate-setter’s comments

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

USD/GBP (GBP=X) PM May says UK to set out new Brexit details after June EU meeting

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) Dollar in Control, Carney and Powell in Focus

USD/GBP (GBP=X) Dollar in Control, Carney and Powell in Focus

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

USD/GBP (GBP=X) stays under pressure below 1.33 as greenback preserves its strength

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

USD/GBP (GBP=X) heading for a test of the 200-hr SMA ahead of the FOMC

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

USD/GBP (GBP=X) Continues to Trade in a Choppy Manner

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) Forecast to 1.3200

USD/GBP (GBP=X) Forecast to 1.3200

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 […]