GBP/USD is trading at 1.2517 in Europe, almost unchanged. In the UK, GDP declined by 0.3% in March m/m, below the 0.1% estimate and the February reading of 0.0%. Still, the economy managed to gain 0.1% in the first quarter, unchanged from Q4 2022 and matching the estimate. There was no surprise as the Bank of England raised rates by 25 basis points, bringing the...
• Despite hawkish message delivered by the BOE today, recent USD strength is putting pressure on the pound and all the majors • We have a couple of Dojis in the recent past sessions which showed a slowing bullish momentum followed by a big bearish candlestick today • Bears are testing the 20 SMA which has been supporting the prices for a while • While there is a...
So far this year, Cable has made significant progress. However, the fifth wave’s potential for further growth appears limited due to its final leg within a higher degree impulse, as evident on the daily chart. Interestingly, there have been instances of sluggish price movement and overlaps around the 1.23 area. This prompts us to question whether this could be the...
Hi Traders! We are trading near May 23rd 2022's high of around 1.26632, hence why we have been struggling to get any momentum. The market is currently undecided as to where to go from here. Due to the market being at the highest point for almost 12 months, there is bound to be some resistance at this level. We also had an inverse head & shoulders pattern...
GBPJPY possible bull run ahead of BOE interest rates announcement. Lets manage risk and see if it works or not either way we win. Price broke previous descending channel which was the overall correction and now we are in a bullish impulse lets wait for lows to be created so we can ride along ahead of the BOE intrest rates
The UK employment report for March was a mixed bag. The number of unemployed persons jumped by 28,200, after a decline of 18,000 in February and higher than the estimate of -11,800. The unemployment rate nudged higher from 3.7% to 3.8%. These numbers, which point to a slight weakening in the labour market, were overshadowed by a jump in wage growth. Average...
The British pound is trading quietly on Monday. In the European session, GBP/USD is trading at 122.49, up 0.15%. The pound has looked sharp of late, and last it touched a high of 1.2343, its highest level since late January. In the UK, there are no tier-1 releases this week, but that doesn't mean it will be a quiet week for the pound. Investors will be listening...
The British pound is down considerably on Friday and the US dollar has posted gains against the major currencies. In the European session, GBP/USD is trading at 122.13, down 0.60%. UK releases are a mixed bag on Friday. Business activity and manufacturing weakened in March. The Services PMI eased to 52.8, down from 53.5 in February and shy of the estimate of 53.0...
The GBP/USD pair advanced for a second day in a row on Thursday, following the Bank of England's (BoE) decision to raise its main interest rate by 25 basis points to 4.25%. The BoE didn't rule out further hikes, which helped underpin the pound.However, the deterioration in the market sentiment during the New York session lifted the greenback and weighed on the...
The British pound is in positive territory on Tuesday. In the European session, GBP/USD is trading at 1.2277, up 0.50%. For Bank of England policy makers, the "how not to start the day" manual likely included inflation climbing higher. That was the bad news earlier today, as UK headline CPI rose to 10.4% in February, reversing the deceleration trend in recent...
22nd March DXY trade lower, break 103 to 102.60 NZDUSD: no trade, middle of s/r AUDUSD: break 0.67 buy to 0.6730 SL 10 TP 20 USDJPY: buy above 133 SL 90 TP 180 GBPUSD: buy 1.2315 SL 30 TP 80 EURUSD: upside and downside potential, watch the video USDCHF: sell below 0.92 SL 35 TP 90 USDCAD: sell below 1.3550 SL 30 TP 70 GBPJPY: buy above 163 SL 30 TP...
Yesterday, the GBPUSD traded up to approach the 1.23 price area, a high last reached on 15th February. However, as the move was quickly reversed as the GBPUSD retraced to retest the 1.22 price level again. As the price failed to break below the support level and maintains above the upward trendline, the GBPUSD is likely to continue with its upward momentum. UK...
The GBPUSD has been trading steadily higher from the 1.20 support area to find the key resistance level of 1.22 With further weakness anticipated for the DXY, the GBPUSD is likely to continue trading higher, especially if the price breaks out beyond the resistance level. Another reason that could see the GBPUSD trade higher is the market anticipation that the...
GBP - Weekly/Daily close will be key! GBPUSD - At a very key resistance, we have NFP today that will shift the market. We did have GDP m/m Bullish 0.3 Higher than expected. I think when it comes to GBP there are very bearish views when it comes to there fundamentals and there rate hikes but I don't think the situation as bad as it's considered. What does this...
GBPUSD - Now we wait... GBPUSD within the ranges Highs: 1.22480 Lows: 1.18530 Keep in mind: we had BOE'S BAILEY: CAUTION AGAINST SAYING WE'RE DONE ON RATES & Let's not forget we aren't done with 'Brexit' as that tension tightens as per usual we saw EURGBP escalate higher whilst GBP we are within these ranges until prices give us clear direction. Technical...
The British pound has posted sharp gains on Monday, after falling below the symbolic 1.20 level on Friday. In the European session, GBP/USD is trading at 1.2026, up 0.72%. In the UK, the economic calendar is unusually quiet this week, with no tier-1 releases. There will be a host of BoE members speaking, including BoE member Broadbent today and Governor Bailey...
GBPUSD We do have BOE..We are currently stuck within range of H: 1.24435 L: 1.22610. It's a break to either direction if we break the lows then I do expect 1.21440 areas. A break above the highs of range I expect 1.26350. It's a wait and see with GBP but I feel most of the time these are the best set ups a break out checking if its a clean close etc. Based on...
The BoE may have one more hike in them, but its 25bp at best with the market pricing terminal BoE rates at 4.27% by June – let’s see the next UK CPI print on 23 March and that could possibly seal the deal on a pause in the hiking cycle - the language from gov Bailey suggests a higher conviction of this playing out. UK gilts have found big buyers (10yr was -30bp,...