GBP/USD is trading above Thursday’s new cycle low near 1.2165. The BBH economists they expect the pair to test the May 2020 low around 1.2075. Bank of England tightening expectations have cooled “We look for a test of the May 2020 low near 1.2075. After that, we have to start talking about the March 2020 […]
Tag: BOE
EUR/GBP hangs on to intraday gains, flirts with daily high at 0.8525 zone
EUR/GBP attracted some buying on the dips on Friday and reversed some of the sharp pullback overnight. The euro drew support from comments from ECB policymakers hinting at an interest rate hike in July. Concerns about the economic fallout from the Ukraine crisis prevented the bulls from making further bets. The crossing EUR/GBP it maintained […]
GBP/JPY hangs on to recovery gains around 157.30 area, lacks bullish conviction
GBP/JPY regained positive traction on Friday and recovered some of the overnight decline. The risk appetite drive undermined the safe haven JPY and extended support to the pair. A gloomy outlook for the UK economy could act as a headwind and limit any further upside. The crossing GBP/JPY it maintained its offered tone during the […]
EUR/GBP will trade higher over the course of the year – Commerzbank
The Bank of England (BoE) is ready to undertake a gradual tightening of monetary policy, which will put the pound under depreciation pressure, report economists at Commerzbank. Furthermore, the EUR should benefit from the ECB’s interest rate hikes starting in the summer. Therefore, the EUR/GBP is set to go even higher until the end of […]
GBP/USD Price Analysis: Ascending triangle breakout targets 1.2158
GBP/USD remains near two-year lows due to risk aversion and UK growth woes. GBP/USD confirmed a breakout of the ascending triangle on the 4-hour chart on Wednesday. Bears brace for further decline towards pattern target of 1.2158. The GBP/USD trades back below 1.2200 after a temporary pullback to near the 1.2230 area as disappointing UK […]
GBP/USD falls to new two-year low below 1.2200 after weaker UK GDP
GBP/USD weakens as UK data confirms politicians’ economic fears. Preliminary GDP declines to 0.8% in the UK in Q1 vs. 1.0% expected, March monthly figure turns negative. The strength of the dollar due to risk aversion also puts downward pressure on the pair. The US PPI will focus investors’ attention to confirm the strong CPI […]
GBP/USD moderate at 1.2350 zone ahead of US CPI.
GBP/USD is moderate at 1.2350 in the run up to the release of US CPI data. The British pound has been resilient to increased negative Brexit newsflow and forecasts of a UK recession in the second half of 2022. Some say there is already a lot of bad news for the price, but political risk […]
GBP/USD consolidates below 1.2350
GBP/USD is currently trading sideways below 1.2350 as traders monitor the Fed’s speech and Brexit news. For now, dollar consolidation keeps the pair above 1.2300, but fears that the UK may scrap the Northern Ireland protocol are weighing on us. Amid a widely mixed and indecisive feeling about risk appetite, the GBP/USD it is moving […]
BoE: 1.0% Interest Rates Below Neutral – Michael Saunders
The external member of the Monetary Policy Committee of the Bank of England, Michael Saunderssaid on Monday that you are not comfortable with the current situation of inflation expectations. He further added that interest rates below 1.0% are clearly below the neutral rate in the UKas reported by Reuters. “UK interest rates may need to […]
GBP/USD bounces quickly from yearly lows, retakes 1.2400 amid modest USD pullback
GBP/USD staged a strong intraday recovery from a new yearly low hit earlier this Monday. The USD’s modest pullback from a two-decade high prompted some short covering around the pair. The divergent policy views of the Fed and the BoE warrant caution before making aggressive bullish bets. The pair GBP/USD witnessed a dramatic intraday turnaround […]
