GBP/JPY attracted some buying on Tuesday and turned positive for the third day in a row. A combination of factors undermined the JPY and continued to support the intraday rally. Modest USD weakness, upbeat UK PMI benefited the GBP and provided an additional boost. The crossing GBP/JPY It maintained its modest intraday gains during the […]
Tag: BOE
GBP/USD breaks below 1.3100, heads towards key support amid buoyant dollar
GBP/USD trades with a downward bias as the Euro underperforms and the 21-day DMA continues to act as a ceiling. A break down to test last week’s lows of 1.3050 is on the cards, with bears eyeing yearly lows of 1.3000 as well. Following the Fed’s aggressive line comments over the weekend and possibly more […]
EUR/GBP falls below 0.8400, trades at multi-day lows
EUR/GBP witnessed some follow-through selling for the third day in a row on Monday. Uncertainty over Ukraine was seen as a key factor behind the euro’s underperformance. Aggressive ECB expectations, and BoE opinion on future rate hikes should help limit further losses. The crossing EUR/GBP fell to a four-day low during the first half of […]
EUR/GBP remains close to 0.8420
EUR/GBP stabilized at the 0.8420 area on Friday as Eurozone inflation failed to support the Euro. While the pair is 1.0% below previous weekly highs above 0.8500, it is still on track to finish the week up 1.1%. Evidence of a growing policy divergence between the ECB and the BoE could support a recovery in […]
GBP/USD falls to around 1.3100, again unable to hold above the 21-DMA
Strong US data saw US yields rise as markets increased their Fed tightening bets, weighing on GBP/USD. The 21 DMA continues to act as resistance, pushing the pair lower to around 1.3100, with the BoE dovish hampering the British pound’s cause. The GBP/USD fell during US trade on Friday as the US dollar strengthened against […]
GBP/USD bounces back above 1.3150, 21 DMA still offers stiff resistance
GBP/USD has recovered above 1.3150 on Wednesday as geopolitical optimism weighs on the dollar. But the pair is struggling to emulate the EUR/USD and break above its 21 DMA, a possible bearish sign. The BoE’s recent dovish move and subsequent unfavorable moves in yield spreads have diminished sterling’s appeal and continue to weigh. Rather than […]
Looks vulnerable near the 1.3100 level, bearish pennant breakout
-637840658275859952.png "Looks vulnerable near the 1.3100 level, bearish pennant breakout")
GBP/USD witnessed selling for the fourth day in a row and fell to a one-week low on Monday. Expectations of a hawkish Fed continued to underpin the USD and acted as a headwind for the major. Dovish comments from the BoE’s Bailey weighed on sterling and contributed to the ongoing slide. The pair GBP/USD it […]
On the May rate decision, the situation is very volatile
“We have been very cautious in forward-looking language because things are so uncertain.Bank of England Governor Andrew Bailey said on Monday, Reuters reports. When asked about the May rate decision, Bailey noted that the situation was very volatile.. Additional comments “It will take time before we really get to a proper assessment how the joint […]
We cannot take market resilience for granted
The Governor of the Bank of England (BOE), Andrew Bailey, explained on Monday that the change in its language on the rate outlook last week was caused by the level of uncertainty and heightened risksas reported by Reuters. Additional comments “The core of the financial system is defending well the shock caused by the invasion […]
Starting to see evidence of slowing growth
The Governor of the Bank of England (BOE), Andrew Bailey, has indicated on Monday that are starting to see evidence of a slowdown in UK economic growthas reported by Reuters. Additional comments “In the UK and elsewhere, we face a very big shock to add income and expenses“. “Unfortunately, there is more to come in […]
