The price of gold advances due to the fall in US Treasury yields and the weakness of the dollar. US equities rise despite cooling manufacturing data, illustrating that the Fed’s actions are making themselves felt. Fed policymakers oppose a “moderate” tilt, based on market reaction. Gold Price Forecast (XAUUSD): If Buyers Regain $1,800, Bias Changes […]
Tag: GBPUSD
GBP/USD rises to a fresh daily high above 1.2200
GBP/USD regains positive traction on Monday amid a selling bias around the USD. Diminishing odds of a more aggressive Fed rate hike continue to weigh on the dollar. Softer risk sentiment and a rebound in US bond yields limit USD losses and limit the pair’s upside. The pair GBP/USD breaks back above the 1.2200 level […]
GBP/USD still faces a tough upside barrier at 1.2245 – UOB
UOB Group strategists Lee Sue Ann and Quek Ser Leang point out that GBP/USD continues to rise with strong resistance at 1.2245. Featured Comments 24 hour view: “Last Friday we highlighted that GBP/USD ‘could break above 1.2200’. We added that ‘major resistance at 1.2240 is unlikely to come into the picture’. However, GBP/USD shot up […]
GBP/USD sinks to 1.2100 after upbeat US data.
GBP/USD pulls back sharply from one-month highs amid the appearance of some dollar buying. Upbeat US PCE report could have reignited Fed rate hike bets and favor USD bulls. The bears could still wait for a sustained break below 1.2100 before making further bets. The pair GBP/USD has made a sharp turn from 1.2250, the […]
GBP/USD finds support near 1.2100, paring intraday losses on weak US GDP.
GBP/USD defends the 1.2100 level and stops its intraday pullback from a one-month low. A technical pullback in the US forces the dollar to cut some of its gains and offers some support. UK political uncertainty regarding Brexit warrants some caution before making aggressive bullish bets. The pair GBP/USD It finds some support near 1.2100 […]
GBP/USD is now heading for 1.2240 – UOB
The strategists of UOB Group, Lee Sue Ann, and Quek Ser Leang, suggest that the GBP/USD could continue to advance to the 1.2240 area in the short term. 24 hour outlook: “Pound jumped to a high of 1.2187 before closing at 1.2158 (+1.06%). The rapid rally has room to extend, but in view of overbought […]
GBP/USD surges above 1.2150 after Fed decision and Powell press conference
GBP/USD rises after the Fed’s “moderate” rate hike of 75 basis points. Fed Chairman Powell opened the door for “another exceptional” rate hike at subsequent meetings. GBP/USD rose over 160 pips and reached a daily high of 1.2185 before falling back to current levels. The GBP extended its gains on Wednesday, after the Federal Reserve […]
GBP/USD remains above 1.2050 after US data, attention remains on FOMC
GBP/USD has gotten fresh offers on Wednesday amid the appearance of some dollar selling. The boost in risk appetite is proving to be a key factor undermining the safe-haven dollar. US Durable Goods Orders, which are positive, could not provide a significant boost. The focus remains on the FOMC policy decision, which will be released […]
GBP/USD returns below 1.2000 after hitting three-week highs
The dollar rises in the market due to a cautious climate in the markets. The two-day FOMC meeting begins. GBP/USD falls after hitting three-week highs. The GBP/USD is falling on Tuesday, snapping a three-day gain streak in a row. Hours ago, the pair had reached as high as 1.2091, the highest level in three weeks, […]
GBP/USD strengthens beyond 1.2050, on fresh multi-week highs
GBP/USD hit a new multi-week high amid the onset of fresh dollar selling. An intraday positive shift in risk sentiment weighed on the greenback as a haven. Brexit woes could cap sterling’s gains ahead of the crucial FOMC decision. The pair GBP/USD attracted some buying on the dips near the 1.1960 area on Monday and […]
