Pound Sterling: On Monday and Tuesday, all the ideas were sideways and short; the pound was short above and below 1.2730 yesterday, falling around 1.2670, with a profit of 70 basis points, and a profit of 7 US dollars, which is not bad; Today's market: 1: In the daily K, it is also the support of the middle track for the time being, and it is difficult to...
GBP/USD maintains its position below the lower boundary of the ascending regression channel, with the Relative Strength Index (RSI) exhibiting a sideways movement above the 50 level, indicating a potential uptrend in the near future. The level at 1.2780 (static level) is considered a temporary resistance before 1.2830 (the endpoint of the latest uptrend, highest...
GBP/USD has rebounded and climbed above the 1.2750 level after dipping to 1.2700 earlier in the day. The US Dollar struggled to find demand in the US trading session as the latest data showed a slight slowdown in the year-on-year PPI in December. GBP/USD remains above the lower limit of the ascending regression channel, with the Relative Strength Index (RSI)...
GBP/USD - The British pound weakened significantly against the greenback, dropping to 1.2625 from its previous level of 1.2735. Immediate support is anticipated at 1.2600 for the pound, followed by 1.2570 and 1.2540. Immediate resistance sits at 1.2660 (overnight high), 1.2700, and 1.2740. Expect increased volatility in Sterling within the range of 1.2600-1.2700....
In a recent note, the global FX head at Goldman Sachs has indicated that GBP/USD is poised to extend its upward momentum to reach 1.3500 in the coming year. Citing correlations with stocks and alleviated concerns about global recession, GBP exhibits a "positive and reliable relationship with higher stock prices." The recent strength of the British pound is...
In a recent update, the global FX head at Goldman Sachs has predicted that GBP/USD is poised to extend its upward momentum to reach 1.3500 next year. Citing correlations with stocks and easing concerns about global recession, Goldman Sachs notes that GBP has a "reliable positive relationship with higher stock prices." The recent surge in the British pound is...
GBP/USD saw a slight uptick above 1.2800 in early European trading on Thursday, supported by the prolonged weakness of the US Dollar due to bets on the Fed's dovish stance. US unemployment benefit claims data was released in a relatively quiet market. The currency pair, currently trading just above 1.2700, may find technical buyer interest if it confirms this...
Forecasting GBP/USD, the British Pound against the US Dollar, based on performance on the daily chart below, indicates that it is still moving within an upward channel. Recent developments have been a response to signals from global central banks in their final meetings of 2023. However, the economic weakness in the UK continues to hinder a strong upward move of...
GBP/USD surged in the US trading session, reaching its highest level since last Wednesday, surpassing the 1.2170 mark. The pair was bolstered by a weaker US Dollar on Monday, as market participants await US employment data along with Fed and BoE meetings. The Relative Strength Index (RSI) on the 4-hour chart remains below 50, and GBP/USD closed the last 4-hour...
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 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 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 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)...
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%...