GBP/USD: Navigating Swings and Shifting Fortunes Amidst Labor Market Focus GBP/USD embarked on a journey of bullish momentum, reaching heights of 1.2730 during the European session on Thursday. However, the narrative took an intriguing turn in the latter half of the day, with the pair closing virtually unchanged below the psychological threshold of 1.2700. As of...
GBP/USD at Crossroads: Navigating Dollar Strength and Technical Signals Under the weight of a resurgent US Dollar (USD), GBP/USD faced downward pressure, descending to its lowest level since mid-December around 1.2610 on Tuesday. While a recovery towards 1.2650 unfolded early Wednesday, the technical landscape hints at the persistence of a bearish bias. ...
GBP/USD Eyes 1.2800 Amid Dollar Weakness and UK Retail Sales Surpass Expectations In the European morning on Friday, GBP/USD is on a positive trajectory, setting its sights on the 1.2800 level. The US Dollar (USD) is consolidating its recent losses as the year comes to a close, with divergent Fed-BoE policy outlooks playing a pivotal role. As thin trading...
GBP/USD Extends Recovery on Upbeat UK Retail Sales, Targets Set for Further Bullish Momentum The GBP/USD pair continues its recovery on Friday, propelled by the positive impact of robust UK Retail Sales data for November. The Office for National Statistics (ONS) reported surprising resilience in households' retail spending, defying expectations of a sharp...
GBP/USD Eyes Bullish Momentum on BoE's Hawkish Stance The GBP/USD pair maintains its positive momentum during the early European session on Monday, propelled by the Bank of England's (BoE) hawkish stance. The central bank's commitment to a prolonged restrictive policy to bring inflation down is supporting the uptick in the pair. Currently trading near 1.26650,...
GBP/USD Soars as Powell's Dovish Tone Sparks Bullish Momentum In a surprising turn of events, the GBP/USD experienced a robust bullish rally on Thursday, surging above the 1.2600 level and reaching 1.2660. This surge followed the Federal Reserve's (Fed) decision to keep interest rates unchanged, coupled with Chairman Jerome Powell's unexpectedly dovish...
GBP/USD: Inflation Data Triggers Volatility Amidst BoE and Fed Meetings As anticipated in our previous analysis, GBP/USD experienced a shift in momentum following Tuesday's CPI report, climbing to around 1.2600 before reversing course and dipping below 1.2515. The upcoming US inflation data for November is poised to be the catalyst for the next significant...
GBP/USD Dynamics: Navigating Economic Indicators and Central Bank Uncertainties The GBP/USD pair has found modest support for the second consecutive day, buoyed by a softer USD and a positive risk sentiment in the markets. Despite the initial boost, the pair remains below the overnight swing high, with spot prices holding steady in the 1.2580-1.2585 region at...
It was a big leg down from July - Sept - so some attempt at selling a retracement makes sense - probably in the pocket between the 50% and 61.8% Fib levels. Trade: Sell a bounce into 1.27 down towards 1.24, cut losses above the 61.8% Fib
GBP/USD Faces Downside Pressure Amid Dollar Demand In the early European session on Wednesday, GBP/USD finds itself trading under pressure below the 1.2560 level. The renewed demand for the US Dollar is a significant factor contributing to the pair's weakness. Market sentiment remains cautious as traders await key US economic data and the UK Autumn...
GBPJPY nicely respected a wide horizontal daily resistance. The price broke a support line of an expanding wedge pattern on an hourly time frame and formed a cup & handle formation. We may anticipate a bearish continuation to 184.79 / 184.52 ❤️Please, support my work with like, thank you!❤️
Here is my latest structure analysis for GBPUSD. Horizontal Key Levels Support 1: 1.201 - 1.205 area Support 2: 1.180 - 1.182 area Resistance 1: 1.231 - 1.237 area Resistance 2: 1.243 - 1.246 area Resistance 3: 1.251 - 1.258 area Vertical Structures Vertical Resistance 1: Falling trend line Consider these structures for pullback/breakout trading. ...
GBP/USD Continues to Soar: Can the Bullish Run Persist? The GBP/USD pair is on an impressive streak, notching its sixth consecutive day of gains and reaching a nearly three-week high during the Asian trading session. With the spot prices hovering just below the key 1.2300 round-figure mark, it's evident that the US Dollar (USD) is feeling the heat, facing a...
GBP/USD Faces Pressure Amid Israel-Hamas Conflict and Economic Challenges The Pound Sterling (GBP) experienced a downturn, dropping below 1.22 against the US Dollar (USD) as geopolitical tensions escalated due to the Israel-Hamas conflict. This development has contributed to a risk-averse market sentiment, impacting the GBP's performance. Additionally, the UK...
GBP/USD Consolidates Gains Ahead of Key US NFP Report The GBP/USD pair is currently treading water in the Asian session, consolidating its recent robust recovery from the 1.2035 area, which marked its lowest level since March 16 earlier this week. With traders on the sidelines, the focus is firmly on the impending release of the US Nonfarm Payrolls (NFP) report,...
OANDA:GBPUSD Dxy is dropping for a retracement, while foreign currencies are going higher for a retracement as well. 15/5m; Price dropped into a discount level, followed by bullish shift in market structure. RR: 5.8
GBP/USD Rebounds Slightly Amid Weaker Dollar, But Challenges Loom The GBP/USD currency pair has shown modest gains, trading above the mid-1.2100s during the Asian session on Thursday. However, the pair's upward momentum remains relatively limited, as it grapples with a series of challenges and uncertainties. In this article, we'll explore the factors influencing...
GBP/USD Consolidates Near Multi-Month Low Amid Divergent Central Bank Policies The GBP/USD currency pair finds itself trapped in a tight trading range, hovering near multi-month lows reached just recently. While the extremely oversold Relative Strength Index (RSI) on the daily chart may deter bearish traders from piling on, a fundamental tug of war between the...