The USD weakens as appetite for higher perceived risk assets like the British pound improves. Markets await Fed Chairman Jerome Powell’s speech after pessimistic FOMC minutes. Covid vaccination progress in the UK is holding the pound sterling. The GBP / USD is trading above 1.3750, extending the previous day’s recovery from near the 1.3725 region, […]
Tag: GBPUSD
GBP / USD targets a test of last week’s lows just above 1.3700
GBP / USD has fallen to 1.3725 and is considering a test of last week’s lows just above 1.3700. A broader rally in the US dollar in recent trade is weighing on the pair. The GBP/USD it has fallen back to fresh lows for the day in recent trading at 1.3725, weighed down amid a […]
GBP / USD falls to 1.3750 amid renewed USD strength
GBP / USD came under bearish pressure in the first US session. The US dollar index turned positive on the day above 92.30. The yield on 10-year US Treasuries has risen 1% on the day. After fluctuating around 1.3800, the pair GBP/USD it lost its traction early in the US session and hit a fresh […]
GBP / USD recovers intraday losses, lateralized above 1.3800 ahead of FOMC Minutes
GBP / USD witnessed some intraday selling for the second consecutive session on Wednesday. The decline was sponsored by a cross weakness derived from the EUR / GBP. Falling US bond yields undercut the dollar and helped limit losses before the FOMV Minutes. The pair GBP/USD it rallied around 40-50 pips from weekly lows, although […]
Bears challenge two-week trendline support near 1.3770
GBP / USD extends the losses of the previous day and loses some additional ground on Wednesday. The intraday decline, for now, has found some support near a short-term uptrend line. The setup favors the bears and supports the prospects for a decline to the 1.3700 level. The GBP / USD pair has extended the […]
Dollar pulls back on growth optimism ahead of Biden and FOMC minutes
This is what you need to know to trade today Wednesday, April 7: Market sentiment remains upbeat amid better growth expectations. Falling US yields are dragging the dollar lower. President Biden is ready to provide an update on his spending plans and investors turn to the Fed’s minutes to see if there is a trend […]
Tuesday’s close below key support at 1.3850 keeps bears hopeful
GBP / USD confirmed the breaking of a descending wedge on the daily chart last Friday. Strong resistance at 1.3850 challenges bullish engagement. The RSI turned bearish on Easter Monday, what awaits us? GBP / USD is licking its wounds after falling towards the 1.3800 region amid repositioning trades. GBP / USD managed to defend […]
GBP / USD falls back near 1.3850 amid profit taking and position adjustments
GBP / USD has fallen from around 1.3900 to below 1.3850, with the British pound among the worst performing G10 currencies on the day. Technical weakness in the EUR / GBP and GBP / JPY crosses appears to be the main driver of the GBP / USD losses. The GBP/USD has receded from the levels […]
GBP / USD flirts with session lows around 1.3825-20 amid notable USD demand
A good recovery in USD demand sparked further selling around GBP / USD on Tuesday. The optimistic US economic outlook and a softer risk tone boosted some safe-haven flows to the USD. The decline in US bond yields did little to constrain the dollar amid expectations of a rate hike from the Fed. The pair […]
GBP / USD retraces from two-week highs and falls below 1.3850 on renewed USD strength
GBP / USD is witnessing an intraday trend reversal from the two-week highs amid a modest rally in the USD. The optimistic US economic outlook and a softer risk tone boost some cash flows into the safe-haven USD. Rising expectations of an earlier-than-expected Fed rate hike support prospects for further gains in the USD. The […]