Bulls eye a 38.2% Fibo in the 1.2120s
Share: GBP/USD is making tracks higher and bulls eye the 38.2% Fibonacci target of around the 1.2120s. On the 15-minute chart, GBP/USD is breaking the structure after putting in a higher low for the New York session. A break of 1.2092 is now what the bulls need to solidify the prospects of a push […]
Surfing the Waves with Gregor Horvat: EURUSD, AUDUSD, GBPUSD, XAUUSD, DAX, CADJPY & More!
Surfing the Waves with Gregor Horvat: EURUSD, AUDUSD, GBPUSD, XAUUSD, DAX, CADJPY & More! – Orbex Forex Trading Blog Home Technical Analysis Surfing the Waves with Gregor Horvat: EURUSD, AUDUSD, GBPUSD, XAUUSD, DAX, CADJPY & More! […]
Bulls moving in on the bear’s break of 1.2090 structure
Share: GBP/USD is setting the foundations for a bullish setup with the 1.2180s eyed in a 50% mean reversion target. A 38.2% Fibonacci retracement is located at 1.2195. Nevertheless, bears will be lurking considering the break of structure at 1.2090. GBP/USD bulls moved in on Tuesday and are setting the foundations for a […]
GBP/USD breaks to the upside, eyes 1.2050s
Share: GBP/USD rallies in the New York session ahead of Fed Powell. GBP/USD is the back side of the trendline resistance which is now expected to act as a counter-trendline with a focus on the upside. There are prospects of a move towards the 1.2050s with the 1.1990s eyed as support. GBP/USD is […]
GBP/USD Yields to US Dollar Strength, Where to Next?
GBP/USD – Prices, Charts, and Analysis The US dollar pushes higher but is starting to look overbought. UK Q4 GDP on Friday is the next focus for Sterling traders. Recommended by Nick Cawley How to Trade GBP/USD The US dollar is pushing further ahead in early European turnover, buoyed by Friday’s blowout NFP report and […]
GBP/USD bulls move in from the lows of a significant daily drop
Share: A busy week ahead for GBP/USD with domestic growth and central bank speakers. GBP/USD bulls are attempting to correct the US Dollar’s strength. On the daily chart, the 38.2% Fibonacci is around the psychological 1.2150 area. GBP/USD is flat on the day at 1.2025 so far as we enter the Tokyo session […]
Ready to do more on inflation if needed
Share: “British central bank was prepared to do more to get inflation back to target,” said Bank of England (BoE) Chief Economist Huw Pill on Monday per Reuters. The news also states that the BoE suggested last week that interest rates were approaching their peak. Key comments I do have a high degree […]
Why the 2023 stock market rally may depend on further U.S. dollar weakness
The U.S. dollar may be losing its appeal as one of the few reliable safe-haven assets in times of economic and geopolitical uncertainty after an 18 month rally, but a further fall by the currency could fuel a 2023 stock-market rally, market analysts said.The ICE U.S. Dollar Index DXY, +1.22% fell to a nine-month low […]
GBP/USD tumbles to the 1.2100 zone as Dollar jumps on upbeat NFP
US jobs numbers surpass expectations in January, not earnings. US Dollar and Treasury bond yields soar after NFP. GBP/USD extends weekly losses as USD jumps on data. The GBP/USD tumbled from 1.2250 to 1.2100, reaching the lowest level in three weeks after the NFP. During the last hour, it rebounded modestly rising toward 1.2150. The […]
Correction weaker before a trend stronger – MUFG
GBP gained further in January, mainly versus USD. Economists at MUFG Bank believe that the Pound could struggle in the near term before a sustained appreciation trend emerges. Global risk a key support for GBP “The sharp decline in natural gas prices and the continued reopening of China have helped lift global growth expectations and […]