According to analysts at RabobankHowever, if the Bank of England (BoE) does not keep pace with the hawkish guidance from the Federal Reserve (Fed), there is a risk that the pound could weaken further. They see the risk that the pair GBP/USD drop to 1.18 three months ahead. Featured Statements “In recent sessions, the market […]
Tag: GBPUSD
GBP/USD Price Analysis: Down to 2-week lows, looks vulnerable to further declines
GBP/USD witnessed some aggressive selling on Friday and dipped to a two-week low. Technical selling below 1.2100 aggravated intraday bearish pressure. The breakout of the downtrend channel supports the prospects for a further short-term decline. The pair GBP/USD added to its heavy intraday losses and fell above a two-week low around the 1.2030 area in […]
GBP/USD continues to slide and hits a two-week low below 1.2050
The pound falls sharply against the dollar and the euro. The cautious climate in the markets keeps the dollar firm, despite the drop in Treasury bond yields. GBP/USD eyeing 1.2000 again. After Thursday’s bounce, GBP/USD resumed the downside and broke firmly below 1.2100. The pair is trading just below 1.2050, at two-week lows. GBP/USD is […]
GBP/USD: Bearish momentum could be running out of steam – UOB
A deeper pullback in GBP/USD appears to be running out of steamUOB Group currency strategists Lee Sue Ann and Quek Ser Leang suggest. Featured Comments 24 hour view: “Yesterday we highlighted that ‘although GBP/USD could weaken further, conditions remain oversold and the next support at 1.2040 is probably out of reach for now’. GBP/USD subsequently […]
GBP/USD bounces away from its weekly lows and rises towards 1.2170 on a weak dollar
The dollar makes a 180 degree turn and begins to weaken, the pound recovers. Fear of stagflation drives investor flows to haven assets except the US dollar. GBP/USD Price Forecast: Range bound but break above 1.2212 could open the door for further upside; otherwise, a retest of the lows for the year is expected. The […]
GBP/USD: Downside pressure improves – UOB
GBP/USD could drop and revisit the 1.2040 zone in the coming weeks, suggest UOB Group currency strategists Lee Sue Ann and Quek Ser Leang. Featured Comments 24 hour view: “Yesterday we highlighted that ‘the rapid decline in GBP/USD appears to have room to break major support at 1.2165’. We added that ‘oversold conditions suggest the […]
Forex Today – Asian Session: US Dollar Spikes to 105 on Risk Aversion Flows
Here’s what you need to know for today, Thursday, June 30: The forex space was buoyed by comments from Federal Reserve Chairman Jerome Powell. He explained that there is a risk that interest rate hikes by the US central bank will slow down the economy too much. However, he added that the biggest risk is […]
The EU cannot accept that the Netherlands protocol is illegally scrapped — Maros Sefcovic
Sefcović from the EU he said the EU cannot accept the Northern Ireland protocol being illegally scrapped. He has explained that zero controls on trade between Great Britain and Northern Ireland “are not an option.” The Northern Ireland Protocol Bill passed its first reading with 295 votes in favor and 221 against, despite harsh criticism […]
GBP/USD flirts with 1.2100, the lowest level in almost two weeks after intervention by Powell and Bailey
GBP/USD witnesses a strong continuation of selling and falls to an almost two-week low. Bullish-tongued remarks from Fed Chairman Jerome Powell buoyed the dollar and put downward pressure on the pair. Bank of England Governor Andrew Bailey’s comments did not impress bulls or lend support to the pair. The pair GBP/USD extends the previous day’s […]
BoE: British Pound Weakness Not Tending To Boost UK Exports – Swati Dhingra
In his appearance before the Treasury Committee on Wednesday, Swati Dhingra, who will become head of policy at the Bank of England in Augustsaid sterling weakness not tending to boost UK exportsas reported by Reuters. Featured Statements “UK trade openness seems to have slowed more than its peers, it’s hard to be entirely sure it’s […]
