In the opinion of the FX strategists of the UOB Group, the cable is likely to operate with a slight downward bias and with resistance starting at 1.300. 24 hour view: “The sudden increase in volatility was a surprise, as the GBP reached a maximum of 1.3024 before falling rapidly at the end of the […]
Tag: GBPUSD
BoE to expand QE next month, 40% chance of no-deal Brexit – Reuters poll
According to the latest Reuters poll of 78 economists, The Bank of England (BoE) is likely to push its quantitative easing next month to support the economy, which is struggling with the resurgence of the coronavirus and fears of a hard Brexit. Key Comments: “While the October 13-19 survey predicted growth of 16.7% last quarter, […]
Dollar Pulls Back on New Stimulus Hopes, Brexit and Coronavirus News Focusing Attention
This is what you need to know to trade today Tuesday, October 20: After a day down on Monday, stocks have stabilized and the safe-haven dollar recedes on reports that US officials are moving toward a tax deal. On Brexit, the UK still demands concessions from the EU. US housing numbers and political headlines ahead […]
GBP / USD reversal from 1.3025 extends to 1.2960 zone
GBP / USD rally from 1.2880 has been capped at 1.3025. The pound moves back and forth with the news of Brexit. UOB currency analysts note significant resistance at 1.3050. The rebound of the British pound from Friday’s lows at 1.2880 has been capped at 1.3025 and the pair has lost momentum during Monday’s US […]
Gove says they are getting better prepared for an Australian-style outing
Michael Gove, a senior UK minister, has said that the country is increasingly prepared for an Australian-style exit from the EU, which means there is no deal. Gove’s official title is Chancellor of the Duchy of Lancaster, and he is one of the top Brexit ministers. Gove is speaking in parliament after EU chief negotiator […]
Strong intraday positive movement stops below a downtrend line
GBP / USD catches some aggressive buying on Monday and surpasses the 1.3000 psychological level. The technical setup favors the bulls, although it warrants some caution before opening new positions. A sustained move above a one-week downtrend line is needed to confirm any further gains. The GBP / USD pair has extended its strong gains […]
GBP / USD rallies back toward 1.3000, focus remains on Brexit headlines
GBP / USD witnessed an aggressive short-hedging move on Monday amid renewed Brexit optimism. Risk appetite undermined the safe-haven dollar and continued to support the strong bullish move. The key focus on Monday will be on the Barnier-Frost meeting and Fed Chairman Jerome Powell’s speech. The pair GBP/USD it continued to rise during the first […]
Bulls target 1.3000 amid bullish technical setup
GBP / USD bulls are hopeful amid a technical breakout and a bullish RSI. A sustained move over 1.2960 is needed to target 1.3000. Brexit negotiations will focus investors’ attention on Monday. GBP / USD is building on Friday’s strong recovery from levels below 1.2900 as the bulls hold out hope for some positive developments […]
UK Government Scientific Adviser believes a three-week shutdown is necessary to stem the COVID-19 spiral
Amid a relentless rise in coronavirus cases in Britain, the government’s scientific adviser, Jeremy Farrar, said a three-week period of national lockdown restrictions needs to be immediately imposed to contain the spread of COVID-19. Featured Statements The current tiered restrictions will not sufficiently reduce transmission rates or prevent the virus from spreading further. A three-week […]
15,650 New COVID-19 Cases Confirmed Friday
There were 15,650 new confirmed coronavirus infections in the UK through Friday morning, data from the UK government showed UK, according to Reuters. This reading followed Thursday’s increase of 18,980. More details from the report revealed that there were 136 deaths within 28 days of testing positive, compared with 138 on Thursday. Meanwhile, British Prime […]
