Further bearish momentum could drag GBP/USD to a test of 1.1800 in the coming weeks, say UOB Group currency strategists Lee Sue Ann and Quek Ser Leang. Featured Comments 24 hour view: “Yesterday, GBP/USD dipped below last week’s low of 1.1877 (low 1.1868) before bouncing back. The bearish momentum has improved, though not by much. […]
Tag: GBPUSD
GBP/USD Price Analysis: Bears have the upper hand near 1.1900
GBP/USD witnessed a reversal from the top end of a two week long descending channel. The dollar rose to a new two-decade high and was seen as a key pressure factor. A sustained break below the low of a year ago would set the stage for a drop towards 1.1800. The pair GBP/USD stalled on […]
GBP/USD falls to fresh daily low, looks vulnerable near 1.1950
GBP/USD finds fresh selling on Monday amid broad-based USD strength. Expectations for an aggressive rate hike from the Fed push the dollar back toward two-decade highs. Domestic issues continue to weigh on the GBP and added to the selling bias in the pair. The pair GBP/USD struggled to capitalize on last week’s modest recovery move, […]
GBP/USD remains bearish below 1.2000
GBP/USD fell during the early American session in reaction to the US NFP report, which was upbeat. The US economy added 372,000 new jobs in June (268,000 expected) and the unemployment rate remained at 3.6%. The data reaffirmed bets on aggressive Fed rate hikes and continued to lend support to the dollar. The pair GBP/USD […]
GBP/USD falls near 1.1900 as USD hits fresh two-decade high before NFP
GBP/USD sees fresh selling on Friday and gives back a significant portion of the previous day’s gains. Domestic issues continue to weigh on the British pound and act as a headwind for the pair. Expectations for an aggressive rate hike from the Fed lift the dollar to a new 20-year high and contribute to the […]
GBP/USD recovers the 1.2000 level after the resignation of British PM Johnson, and risk appetite
UK Prime Minister Boris Johnson has resigned from his post and will remain until a new prime minister is elected. USD is trading lower amid rising risk appetite. The BoE’s Pill and Mann support a faster pace of rate hikes. The Fed’s Waller backs a 75 basis point hike, adding that the US economy is […]
GBP/USD Surpasses 1.2000, Pound Strengthens on Johnson Exit
The prime minister is expected to announce the resignation on Thursday. The pound gains ground in the market after the news. GBP/USD rises to two-day highs. The GBP/USD returned above 1.2000 and climbed to 1.2022, the highest level in two days after learning that the Prime Minister of the United Kingdom, Boris Johnson will resign […]
UK: Downing Street Spokesman Says Prime Minister Johnson Will Make ‘Statement to the Country Today’
Following the news that UK Prime Minister Boris Johnson will announce his resignation, a Downing Street spokesman has said the Conservative Party leader will “make a statement to the country” on Thursday. Rumors surrounding his resignation intensified after the abandonment of more than 50 Conservative ministers and legislatorswho withdrew their support after Johnson’s involvement in […]
GBP/USD could drop to 1.17, even 1.15 – ING
GBP/USD advances to 1.1960 despite political moves on Downing Street. However, ING economists point out that the pair could fall to 1.15. Political chaos leaves GBP highly volatile “Seems Prime Minister Boris Johnson unlikely to keep the keys to Number 10 Downing Street next week. This will cause a leadership vote in the Conservative Party […]
GBP/USD faces next support at 1.1850 – UOB
Downward pressure could force the GBP/USD to revisit the 1.1850 area in the short term, according to forex strategists at UOB Group, Lee Sue Ann, and Quek Ser Leang. 24 hour outlook: “Yesterday, we thought GBP weakness could extend to 1.1880 before stabilization is likely. Pound subsequently fell to 1.1877 before bouncing. Rebound amid oversold […]
