GBP/USD fluctuates throughout the day, with traders waiting for Powell’s comment on the matter. US growth in the second quarter improved but remains below the 0% threshold; a recession is looming in the US Money market futures expect the Bank of England to raise rates by 250 basis points by May 2023. The GBP/USD rose […]
Tag: GBPUSD
GBP/USD trims its intraday gains and pulls back to the 11820-15 area
GBP/USD finds fresh supply at higher levels amid a modest pickup in USD demand. Mostly upbeat US data, high US bond yields and aggressive Federal Reserve expectations support the dollar. The gloomy economic outlook for the UK acts as a headwind for the British pound and favors bearish traders. The pair GBP/USD struggles to take […]
GBP/USD slides towards 1.1800 after mixed US data and approaching Jackson Hole
GBP/USD posts modest losses of 0.23% on Wednesday, paring some of Tuesday’s gains. Market participants are “focused” on the US Fed’s Jerome Powell’s speech on Friday. Pending US home sales show the housing market deteriorating, while durable goods orders held up. GBP erases Tuesday’s gains and falls, towards the 1.1800 level, amid a slightly bullish […]
Forex Today – Asian Session: Profit Taking Halts Dollar Rally
What to watch for on Wednesday, August 24: The USD veered south after extending its rally throughout the first half of the day, ending the day lower against most major rivals. The catalyst was dismal US data, as the US Global Services PMI contracted to 44.1. At the same time, the manufacturing index expanded at […]
GBP/USD rebounds strongly and breaks above 1.1860 after mixed US and UK PMIs
GBP/USD jumps from record lows after US economic data reignites recession fears. US S&P Global PMI data was mixed, although it reignited recession fears. The UK S&P Global Manufacturing PMI slipped into contraction territory. GBP/USD Price Analysis: If it breaks above the 1.1900 level, the 1.1936 level can be tested. The GBP/USD recovered some ground […]
GBP/USD recovers from two-year lows after PMI data, still below 1.1800
GBP/USD no clear direction after mixed UK PMI data. The US dollar loses strength due to stabilization in Treasury bonds and stock markets. Outlook for GBP/USD remains negative and closing below 1.1760 would be critical. GBP/USD is struggling once again to extend the recovery while holding below the 1.1800 level, following the release of a […]
GBP/USD now looks to test 1.1680 – UOB
UOB Group currency strategists Quek Ser Leang and Peter Chia noted that the GBP/USD could return to the 1.1680 zone in the coming weeks. 24 hour outlook: “Yesterday we highlighted that the pound could fall further, but a sustained decline below the July low near 1.1760 seems unlikely for now. GBP subsequently fell as low […]
GBP/USD falls to fresh two-year lows near 1.1740 as dollar strengthens
DXY is up 0.82%, near multi-year highs. US yields rise further, 10-year returns above 3.0%-. GBP/USD falls for fourth day in a row, below July lows. The GBP/USD continued to fall and hit a new two-year low at 1.1736. She is losing pressure amid a stronger US dollar and risk aversion. Yields up, stocks down […]
GBP/USD hits one-month lows below 1.1800 on firmer dollar
GBP/USD continues to lose ground for the fourth day in a row and falls to a new monthly low. Fed expectations and risk aversion state support dollar. The pound continues to be affected by the UK economic outlook. The GBP/USD is falling for the fourth day in a row on Monday. It reached lows in […]
GBP/USD: Strong support expected at 1.1730 – UOB
In the opinion of the currency strategists of UOB Group, Lee Sue Ann and Quek Ser Leang, the continuation of the falls in the GBP/USD should find strong support near 1.1730. 24 hour outlook: “The sharp and rapid fall in the pound last Friday is deeply oversold. Although further weakness is not ruled out, the […]