Pound versus Dollar drew a considerable amount of offers from market traders and dipped around 1.3316 in the midst of Russian attacks on Ukraine, which is the largest nuclear power station in Europe. The news brought a wide base in the risk-observed asset as investors think about further increases in the war between Ukraine and […]
In matching the wide controlled beginning to the week in the world’s forex market as traders anticipate important US consumers value inflation data which can affect Federal reserve tightening anticipations tomorrow, GBP/USD remains confined around 1.3550. Truly,.two days ago the presence of 50 percent Fibonacci retracing backward for 2022 height which was at 1.3750 to […]
The GBP/USD pair bounced off the 1.3500 support yesterday, after a three-day bearish tone. A stronger US Treasury yield extended some support to the US dollar, which exerted bearish pressure on the cable. Also, the escalating Brexit worries ahead of talks between UK Foreign Secretary Liz Truss and European Commission Vice President Maros Sefcovic this […]
Key Resistance Levels: 1.4200, 1.4400, 1.4600Key Support Levels: 1.3400, 1.3200, 1.3000 GBP/USD Price Long-term Trend: BullishGBP/USD is in a sideways move but struggles below level 1.3615. On February 3, the currency price breaks above the moving averages. The pound retraced below the 21-day SMA. The implication is that the currency price will be fluctuating between […]
Sterling touched the 1.3628 high against the greenback in the mid-London session on Thursday, following the interest rate decision from the BoE. According to forecasts, the Bank of England raised its prime rates by 25 basis points (bps) to 0.50% to tackle the growing inflation risk in the region. With the US dollar remaining under […]
Key Resistance Levels: 1.4200, 1.4400, 1.4600Key Support Levels: 1.3400, 1.3200, 1.3000 GBP/USD Price Long-term Trend: BullishGBP/USD is in a bullish momentum but may resume uptrend after retracement. The currency price broke above the 50-day SMA but it is below the 21-day SMA. If the currency price has broken above the 50-day SMA and the 21-day […]
Key Resistance Levels: 1.4200, 1.4400, 1.4600Key Support Levels: 1.3400, 1.3200, 1.3000 GBP/USD Price Long-term Trend: BullishGBP/USD is trading below the moving averages but hovers above level 1.3440. Meanwhile, on September 27, downtrend, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement suggests that the Pound will fall to level 1.618 Fibonacci extension […]
The GBP/USD pair started the new week with GBP bulls struggling to hold above 1.3550 as we head into the London open on Monday. That said, the current trading sentiment highlights the renewed dollar strength ahead of some key preliminary PMI data releases for January in both the UK and US. Meanwhile, the uncertainty trailing […]
As the US dollar took a break on Wednesday after Tuesday’s profits, GBP/USD has bounced back to over 1.3600. The pound stayed undisturbed by diplomatic incertitude, however did get some assistance from boiling inflation numbers that increased BoE calls. The Causes and Effects Despite increasing diplomatic incertitude as momentum grows in the direction of […]
