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Tag: GBPUSD

GBP/USD collapses to new 4-week lows at 1.2059 after robust US economic data

The Pound Sterling opposes no resistance to upbeat economic data in the United States. US jobs data and services activity showed that the US economy remains solid despite the US Federal Reserve tightening cycle. For the next week, GBP/USD traders are eyeing the UK GDP and US Fed speakers. GBP/USD nosedives and extended its losses […]

GBPUSD: Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023

2023.02.03 2023.02.03 GBPUSD: Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ Main scenario: consider long positions above the level of 1.1847 with a target of 1.2674 – 1.3000 after correction. Alternative scenario: breakout and consolidation below the level of 1.1847 will allow the pair to continue declining to the levels of 1.1405 […]

GBP/USD collapses to new 4-week lows at 1.2059

GBP/USD nosedives and extended its losses past the 50 and 200-day Exponential Moving Average (EMA) on Friday after a surprisingly strong jobs report from the United States (US) that increased speculations that the Federal Reserve (Fed) could raise rates back above Wednesday’s 25 basis points mark (bps). At the time of writing, the GBP/USD is […]

Poor UK fundamentals to be a drag on the Pound – Rabobank

Strategists at Rabobank point out that the change in the Bank of England’s language favours the doves, they see scope for further rate rises. They continue to expect poor United Kingdom fundamentals to be a drag on the British Pound.   Key quotes: “The USD has found further traction on the back of the January […]

GBPUSD Potential for bearish drop towards overlap support |

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Bears eye a run to 1.2170, but watch out for the trap

GBP/USD bulls face the task of getting back over the line ahead of the NFP. Bears are taking on a key layer of support with eyes to 1.2170. GBP/USD is on the defensive following a recent break of daily structure that led to a colossal sell-off in the London and New York equities opening hours. […]

Downside risks dominate in Sterling – Commerzbank

Everything is pointing towards tough times in the UK. Therefore, economists at Commerzbank expect Sterling to remain under pressure. Not much upside for Sterling “Little has changed about Sterling’s fundamental environment. The economic situation remains dire, inflation risks high and the BoE intent on navigating these troubled waters.” “We consider the likelihood of the BoE […]