GBP/USD witnessed some aggressive selling on Thursday amid relentless buying interest in the USD. The formation of a descending channel supports the prospects for a further short-term depreciation move. A slightly oversold RSI on the daily chart suggests that the bears could pause near 1.1700. The pair GBP/USD added to its heavy intraday losses and […]
Tag: GBPUSD
GBP/USD remains under pressure near 1.1800, looks vulnerable
GBP/USD finds fresh sales on Thursday and falls back near yearly low. Expectations of an aggressive Fed rate hike and recession fears are benefiting the USD and putting pressure on the pair. Brexit woes continued to act as a headwind for the British pound and contribute to the selling bias. The pair GBP/USD came under […]
GBP/USD: Expectations rise for a move below 1.1800 – UOB
UOB Group currency strategists Lee Sue Ann and Quek Ser Leang point to the Increasing probability of a break of the 1.1800 level in GBP/USD on the short-term horizon. Featured Comments 24 hour view: “Yesterday we highlighted that GBP/USD is unlikely to ‘weaker further’ and expect GBP/USD to ‘trade between 1.1825 and 1.1925’. GBP/USD subsequently […]
GBP/USD positive and above 1.1900 on US CPI preview.
GBP/USD bounces off 1.1870 and returns to the daily high zone. UK: May growth data beat expectations. The US reports inflation for June at 12:30 GMT. GBP/USD is rising on Wednesday and extends the recovery from the two-year low it reached near 1.1800 on Tuesday. The pair hit as high as 1.1936, a two-day high, […]
GBP/USD: Expectations rise for a break of 1.1800 – UOB
According to UOB Group currency strategists Lee Sue Ann and Quek Ser Leang, A drop below 1.1800 in GBP/USD remains likely short term. Featured Comments 24 hour view: “We were expecting GBP/USD to decline yesterday, but were of the opinion that ‘any weakness could be limited to a test of 1.1850’. We noted that ‘major […]
UK: Manufacturing output up 1.4% mom in May vs. 0.1% expected
The recovery of the British industrial sector gained strength in Mayaccording to the latest UK manufacturing and industrial production data released by the Office for National Statistics (ONS) on Wednesday. Manufacturing output was 1.4%m/m in May vs. 0.1% expected and -0.6% registered in April, while total industrial production was 0.9%, vs. 0% expected and -0.1% […]
Breaking News!: UK GDP beats estimates and rises 0.5% in May
UK GDP came in at 0.5%m/m in May vs. 0% expected. GBP/USD rebounds firmly above 1.1900 after UK GDP breakthrough. The UK’s monthly GDP release has shown that the economy rebounded strongly in May, reaching 0.5% vs. 0% expected and -0.3% prior. For its part, the services index for May stood at 0.1% compared to […]
GBP/USD Price Analysis: Bears take control, but bulls could be on the prowl with 1.1950 in sight
GBP/USD bears have moved as the dollar strengthens. The bulls could be on the verge of a 50% reversal. The GBP/USD has started to give back gains made in the American open, which rallied to break 1.1900 in a strong impulsive move to grab session highs, but fell just below Friday’s low. This leaves 1.1950 […]
GBP/USD finds some support just before 1.1800, but not out of the woods yet
GBP/USD witnessed continued selling for the second day in a row on Tuesday. The decline in US bond yields caused a modest pullback in the dollar and helped limit further losses. Traders now await Wednesday’s release of UK monthly GDP and US CPI. The pair GBP/USD added to the previous day’s heavy losses and witnessed […]
GBP/USD Price Analysis: Falls to 1.1800 region, the lowest level since March 2020
GBP/USD witnesses strong selling for the second day in a row on Tuesday. Sustained buying interest around the USD is seen as a key factor putting pressure on it. The setup supports the prospects of a drop towards descending channel support. The GBP/USD pair extends the previous day’s heavy losses and witnesses some selling for […]
