GBP/USD posts solid gains for the week of 1.19%. BoE Governor Bailey said a 50 basis point rate hike is on the table at the next meeting. GBP/USD Price Analysis: Bullish pressure if buyers retake 50 DMA, followed by 1.2400; otherwise, downside risks remain. The GBP/USD rose during the American session, extending its rise to […]
Tag: GBPUSD
GBP/USD Price Analysis: Bulls look to take control, waiting to break above the 50% Fibonacci level
GBP/USD rose for the third day in a row and hit a one-week high. Retracement of bets on a more aggressive rate hike by the Federal Reserve continued to weigh on the USD. Gloomy expectations from the Bank of England overshadowed mixed UK employment data and continued to act as support. The pair GBP/USD it […]
UK: ILO Unemployment Rate Stabilizes at 3.8% in May, Meeting Estimates
The UK unemployment rate stabilized at 3.8% in May. The UK jobless claimant count fell by -20,000 in June. UK wages excluding bonuses rose 4.3% year-on-year in May, versus 4.3% expected. The Office for National Statistics (ONS) has shown on Tuesday that UK official jobless rate stood at 3.8% in May, vs. 3.8% previously and […]
GBP/USD breaks above 1.2000 as the dollar continues to fall
Risk-off sentiment favors the pound on Monday. Busy week in the UK between politics and key data. The pound is facing the next resistance levels at 1.2050 and 1.2065. The GBP/USD it has broken above 1.1990 during the American session and jumped to 1.2033, reaching the highest level since July 8th. He is hovering around […]
GBP/USD: Chances of a short-term rebound before a drop to 1.15/1.1409 – Credit Suisse
GBP/USD is experiencing a new bounce. The pair is expected to consolidate in the short term, before a possible drop to Credit Suisse’s main technical target at 1.15/1.1409. Resistance at 1.1968 will cap the upside before a possible drop to 1.15/1.1409. “Key short-term resistance is seen at the recent reaction high and the 13-day exponential […]
GBP/USD rises above 1.1950 amid widespread USD weakness
GBP/USD gains ground for the second day in a row amid continued profit-taking around the dollar. Expectations for a more aggressive rate hike by the Fed and risk appetite weigh on the dollar. Brexit concerns could act as a headwind for the British pound and limit the pair’s gains. The pair GBP/USD extends last week’s […]
GBP/USD: Downside pressure eases above 1.1940 – UOB
A move above 1.1940 could cause the selling bias in GBP/USD to diminish in the coming weeks, suggest UOB Group currency strategists Lee Sue Ann and Quek Ser Leang. Featured Comments 24 hour view: “Last Friday, we expected GBP/USD to “trade between 1.1750 and 1.1885″. Subsequently, GBP/USD traded within a tighter range than expected (1.1805/1.1872). […]
GBP/USD clings to modest gains below 1.1800, moves little after US retail sales.
GBP/USD gained some positive traction on Friday amid muted USD price action. Dollar bulls were unimpressed by the monthly US retail sales data. Weakening US bond yields and a positive risk tone undermined the dollar as a safe haven. The pair GBP/USD it maintained its modest intraday gains below the 1.1850 area during the early […]
GBP/USD remains above 1.1800 ahead of US data.
GBP/USD is unable to sustain its modest intraday gains despite subdued USD price action. Less aggressive comments from Fed officials the day before keep dollar bulls on the defensive. Fears of a recession act benefit the USD and limit the rise of the pair. Investors are now waiting for US macroeconomic releases to take advantage […]
GBP/USD: A drop to 1.1700 remains off the table – UOB
Prospects for further weakness remain for GBP/USD, although a visit to the 1.1700 region seems out of the question for now, UOB Group currency strategists Lee Sue Ann and Quek Ser Leang suggest. Featured Comments 24 hour view: “Although we expected GBP/USD to weaken yesterday, we are of the opinion that ‘a break of major […]
