The GBP/USD pair struggled for significant upward momentum on Thursday, trading below the key level of 1.2100 in the Asian session. The immediate trading range stayed narrow, with GBP/USD last seen around 1.2190-1.2200, near the Fibonacci 23.6% retracement level and the 50-day and 100-day Simple Moving Averages (SMA) on the 4-hour chart. Technical buyers might act...
The GBP/USD pair traded below 1.2200 as traders awaited crucial inflation and employment data from the United Kingdom. The British Pound (GBP) declined by 0.26% on Friday as the US Dollar strengthened amid safe-haven demand. GBP/USD has been steadily declining since July due to the narrowing interest rate differential between the UK and the US. Recent...
GBP/USD remains stuck near the 1.2200 level as traders wait for additional catalysts. Interestingly, rising Treasury yields did not put pressure on GBP/USD. If GBP/USD settles above 1.2200, it will move towards the next resistance, which is located in the 1.2370 – 1.2410 range.
GBP/USD faced consecutive losses, trading around 1.2160 in Asian markets on Wednesday. Positive US economic data applied pressure. The pair retreated after reaching 1.2200, the 23.6% Fibonacci retracement level, the 50 and 100-day Simple Moving Averages (SMAs) confirming significant resistance. The 4-hour chart's Relative Strength Index (RSI) dropped to 40,...
A break above the summer uptrend line could bring the USD back to normalcy in recent months. Meanwhile, the US Dollar Index (DXY) this Monday is below last Friday's closing price, which could cause some selling and cause DXY to fall and seek support. There could still be a rally above the daily trend line from July 18th. The 107.19 level is a very important...
GBP/USD is currently trying to settle above the resistance at 1.2180 – 1.2200 as traders bet that Fed will not raise rates again this year. In case this attempt is successful, GBP/USD will head towards the next significant resistance at 1.2370 – 1.2410, although it may also face resistance near the 1.2300 level.
GBP/USD surged on Monday, reaching 1.2215 as market risk appetite recovered due to Tuesday's UK wage data and US Retail Sales figures. UK average earnings excluding bonuses are expected to remain stable at 7.8% on Tuesday, with the bonus-inclusive figure dropping from 8.5% to 8.3%. The 4-hour chart's Relative Strength Index (RSI) remains below 50, indicating a...
GBP/USD staged a recovery, trading around 1.2150 in Monday's Asian session after recent losses. The pair faces challenges amid shifting discussions on the Federal Reserve's monetary policy trajectory. The Relative Strength Index (RSI) on the 4-hour chart has dropped to 40, indicating a short-term bearish trend. Key for the pair is 1.2200 (psychological level,...
In addition to the financial report, September U.S. retail sales figures released Tuesday will help investors better understand the power of consumer spending, which drives about two-thirds of the economy. Economists had expected retail sales to rise 0.2% last month. The better-than-expected data could raise concerns about a rebound in inflation and strengthen...
In the wake of previous recovery attempts, GBP/USD turned south, slipping below 1.2100 in the latter half of Friday. The negative shift in risk sentiment amid escalating political tensions bolstered the US Dollar against its counterparts, impacting this pair adversely. The Relative Strength Index (RSI) on the 4-hour chart dipped to 40, indicating a short-term...
Content: The Relative Strength Index (RSI) on the 4-hour chart has fallen below 40, indicating a short-term bearish trend. The key level for this pair is considered to be 1.2200 (psychological level, static level, 100-period Simple Moving Average, and 50-period SMA). If 1.2200 is confirmed as support, GBP/USD may extend its recovery towards 1.2250 (20-period SMA)...
GU appears to be bouncing off the downtrend line looking for upside potential. Gu is holding is ground above the previous trend line this is the 3 target prices we are looking at.
GBPUSD was last trading over 0.2% higher at $1.2202. Investors also digested producer and consumer prices data out of China on Friday that showed deflationary pressures were slightly stronger than expected. "What we've got is a fairly weak growth story (from China), and that's weighing on the price numbers," said Rob Carnell, regional head of research in the...
GBP/USD has managed to recover from recent losses, trading slightly above the psychological level of 1.2200. However, the pair faces challenges due to optimistic economic data emerging from the United States. US Economic Data: The US Consumer Price Index (CPI), revealed by the Bureau of Labor Statistics, surpassed expectations in September, with a stable 3.7%...
GBP/USD broke above 1.2300 for the first time since September 22 on Wednesday but struggled to gather more upward momentum. The negative sentiment in risk appetite could limit the pair's gains in the near term. However, the US Dollar (USD) may find it challenging to maintain its strength if policymakers continue with dovish remarks. San Francisco Federal Reserve...
Future contracts of US securities edged higher on Tuesday as investors closely monitored policy comments from Federal Reserve officials and developments unfolding in the Middle East conflict. 1. Future Contracts Show Positive Momentum At 04:53 ET (08:53 GMT), Dow Jones futures added 61 points, or 0.2%, S&P 500 futures rose by 7 points, or 0.2%, and Nasdaq 100...
GBPUSD New forecast The price perfectly fulfills my last idea and price reached to our first target + 80 pip . The British pound against the dollar pair succeeded in touching our expected target at 1.2310, and attempts are being made to penetrate it now, to support the chances of extending the bullish corrective wave and heading towards achieving additional...
The US dollar depreciated on Tuesday as investor confidence wavered amidst changes in the tone of Federal Reserve officials. Expectations regarding US and Treasury rates diminished following a more subdued stance from Reserve officials. In contrast, the yen edged higher due to the Middle East violence, encouraging safe-haven assets, and stabilized at 148.34 per...