GBP/USD bounced on Monday from a key support zone at the top of 1.2450 to the mid 1.2550 level. The British pound is outperforming despite the impending no-confidence motion against the UK Prime Minister, which could unseat him from office. Otherwise, the week will be quiet until Friday’s US CPI data is released. Despite British […]
Tag: GBPUSD
GBP/USD clings to mixed outlook – UOB
GBP/USD is expected to trade between 1.2470 and 1.2670 for now, according to UOB Group currency strategists Quek Ser Leang and Peter Chia. Key comments 24 hour view: “Last Friday we highlighted that ‘the rapid advance appears to be running ahead of itself and GBP/USD is unlikely to strengthen much further’ and we expected GBP/USD […]
GBP/USD declines and approaches 1.2500 after mixed US economic data.
GBP/USD is set to end the week down almost 1%. Risk markets mood and US jobs report weigh on GBP/USD. GBP/USD Price Forecast: A daily close below 1.2500 would open the door for further losses. The GBP/USD flounders at 1.2600 and drops sharply below the 1.2500 figure after positive US economic data boosted the USD, […]
GBP/USD extends bounce to 1.2550 ahead of US data.
The dollar retreats across the market ahead of economic data. GBP/USD faces key resistance level at 1.2555. The pound also rises against the euro. The GBP/USD is trading at daily highs around 1.2550, recovering after falling as low as 1.2456 on Wednesday, the lowest since May 20. The gains are being driven by a general […]
GBP/USD at risk of a drop to 1.2405 – UOB
In the view of UOB Group FX strategists Lee Sue Ann and Quek Ser Leang, a further drop in the pound could revisit the 1.2400 region in the coming weeks. 24 hour outlook: “The pound’s sharp drop to a low of 1.2459 came as a surprise (we had expected it to consolidate). Although the rapid […]
GBP/USD seems to remain range bound in the short term – UOB
According to UOB Group currency strategists Quek Ser Leang and Peter Chia, GBP/USD will move between 1.2530 and 1.2640 In the next weeks. Key comments 24 hour view: “We expected GBP/USD to ‘move sideways between 1.2585 and 1.2660’ yesterday. GBP/USD subsequently fell as low as 1.2561 before bouncing back. The move appears to be part […]
GBP/USD extends corrective decline from multi-month highs, weakens further below 1.2600
GBP/USD found fresh supply on Tuesday and broke the streak of four consecutive days of gains. Rebounding US bond yields and risk aversion buoyed the safe-haven dollar and put pressure on it. The gloomy outlook for the UK economy favors the prospect of further losses amid Brexit woes. The pair GBP/USD saw some selling on […]
GBP faces ‘existential crisis’ amid ‘increasingly challenging’ BoE communication – BofA
Kamal Sharma, Currency Strategist at London-based Bank of America (BofA), offers a bearish outlook on sterlingpredicting further declines this year. Key comments “Sterling’s fall from grace has been epic given the euphoria of the past year and in many ways has caught the investment community by surprise.” “Threadneedle Street faces ‘unique’ challenges, including Brexit, that […]
GBP/USD: Risks remain tilted to the upside – UOB
According to UOB Group currency strategists Lee Sue Ann and Quek Ser Leang, GBP/USD could extend the uptrend and revisit the 1.2700 zone. Key comments 24 hour view: “Yesterday we highlighted ‘barely any improvement in upside momentum’ and expected GBP/USD to “trade sideways within a range of 1.2580/1.2665″. Subsequently, GBP/USD moved within a narrower range […]
GBP/USD consolidates near 1-month highs at 1.2650
GBP/USD is consolidating in fairly quiet trade near 1-month highs at 1.2650. Volumes this week will be reduced due to public holidays in the US (Monday) and UK (Thursday and Friday). However, the flurry of US data to be released soon means that the outlook for volatility remains high. Trading conditions are calm on Monday […]
