GBP/USD witnessed heavy selling on Friday amid a strong rally in USD demand. Uncertainty over the magnitude of the Fed rate hike prompted some short-covering of the dollar. The gloomy economic outlook from the Bank of England undermines the GBP and contributes to the decline. The pair GBP/USD comes under renewed selling pressure on Friday […]
Tag: GBPUSD
GBP/USD: Break below 1.2110, opens doors at 1.20 – BBH
The British pound is retreating on Friday in the market, even despite better than expected data from the UK. GBP/USD trades in the 1.2120 zone, according to analysts at Brown Brothers Harriman, the break of 1.2110 could enable a drop towards 1.20. Key Statements: “A break below 1.2110 would test 5th Aug low near 1.20“. […]
GBP/USD accelerates the fall towards 1.2100, the pound the worst in the G10
The pound among the worst performers among the G10 group on Friday. The dollar improves the tone at the end of the week. GBP/USD erases most of weekly gains. GBP/USD accelerated the downside and fell to 1.2117, posting a new two-day low. Hours ago the pair was trading above 1.2200. The pound weakened on all […]
GBP/USD remains centered around 1.2300 – UOB
GBP/USD needs to break above the 1.2300 level to allow for sustained gains on the short-term horizon, UOB Group currency strategists Lee Sue Ann and Quek Ser Leang suggest. Featured Comments 24 hour view: “Yesterday we highlighted that “GBP/USD was unlikely to advance further” and we expected GBP/USD to “trade between 1.2160 and 1.2260″. Subsequently, […]
Breaking News!: UK Preliminary GDP Contracts 0.1% QoQ in Q2 vs. -0.2% Expected
UK quarterly GDP contracted 0.1% in the second quarter, versus -0.2% expected. UK GDP came in at -0.6%m/m in June vs. -1.3% expected. The British economy contracted 0.1% quarter-on-quarter in the three months to June.compared to the growth of 0.8% registered in the first quarter and the -0.2% expected. In annual terms, UK GDP grew […]
GBP/USD pulls back from weekly highs and approaches 1.2200
GBP/USD falls almost 0.05% amid risk aversion momentum as US dollar weakens. Prices paid by producers in the US eased, while jobless claims rose for the second week in a row. GBP/USD Price Analysis: Pulled back from a descending channel trendline, with an eye on a break below 1.2200. The GBP/USD is off weekly highs […]
GBP/USD rises to 1.2230 area amid renewed USD selling bias
GBP/USD attracts buying at the 1.2180 area amid fresh selling around the USD on Thursday. Diminishing odds of a further Fed rate hike in September and risk appetite weigh on the USD. The bulls might wait for some continuation buying before positioning themselves for a further move higher. The pair GBP/USD recovers almost 50 pips […]
GBP/USD: More gains likely above 1.2300 – UOB
A close above 1.2300 should allow GBP/USD to extend the uptrend in the coming weeks, according to UOB Group currency strategists Lee Sue Ann and Quek Ser Leang. Featured Comments 24 hour view: “We did not expect the big advance in GBP/USD as it rose as high as 1.2277 before pulling back to close at […]
GBP/USD breaks through 1.2200 barrier amid US inflation data.
GBP/USD adds to its intraday gains and hits a one-and-a-half-week high amid a brutal drop in the dollar. A weaker US CPI report pushed back expectations of a further Fed rate hike and weighed on the dollar. The strong rally in US equity futures puts additional downward pressure on the safe-haven dollar. The pair GBP/USD […]
GBP/USD lacks continuation above 1.2100 ahead of US CPI.
GBP/USD gains some positive traction on Wednesday amid dovish USD action. Recession fears and the gloomy outlook for the Bank of England could act as a headwind and limit the pair’s rise. Also, investors might prefer to stay on the sidelines ahead of the US CPI report. The pair GBP/USD moves higher during the first […]