Forex News GBP/USD
- Thread starter HotForexsignal
- Start date
HotForexsignal
Active Member
GBP/USD pair recovery accelerates on the far side 1.2400
Sterling’s recovery from 1.2266 low on Thursday has gathered pace with the GBP/USD jumping past the 1.2400 level. The currency pair is return lost ground on Friday, reaching intra-day highs at 1.2450 space favored by a risk-on market mood and possibly by squaring United States dollar long positions earlier than the united kingdom market closing.
The pound picks informed lockdown restriction hopes
The pound is bouncing informed Friday once having lost nearly earlier in the week, on the rear of the negative outlook of the united kingdom, hit laborious by the COVID-19 pandemic and Brexit uncertainty.
The market, however, is welcoming with optimism the easing of lockdown restrictions, on hopes that world economic recovery from the coronavirus closing can be quicker than expected. moreover, April’s the United States Non-Farm Payrolls report, which has shown a less than expected job destruction, has contributed to the positive market mood.
GBP/USD trapped among a variety between 1.2235 and 1.2645
From a longer-term perspective, the currency pair remains forex trading sideways between 1.2235 and 1.2645 and, in line with the FX Strategists at UOB cluster it's probably to stay in this area for ensuing weeks; ‘The break of the ‘strong support’ level at 1.2370 on Wed (06 May) suggests that last week’s 1.2644 high may be a short-term high. That said, downward momentum is lackluster and it's too early to expect a sustained decline. From here, GBP is additional probably to consolidate and trade between 1.2280 and 1.2500 for an amount.”
- GBP/USD's rebound from 1.2266 lows accelerates on the far side 1.2400
- The pound extends recovery supported by a risk-on market mood and hits session highs at 1.2465.
- Longer-term, the currency pair remains trapped between 1.2235 and 1.2645.
Sterling’s recovery from 1.2266 low on Thursday has gathered pace with the GBP/USD jumping past the 1.2400 level. The currency pair is return lost ground on Friday, reaching intra-day highs at 1.2450 space favored by a risk-on market mood and possibly by squaring United States dollar long positions earlier than the united kingdom market closing.
The pound picks informed lockdown restriction hopes
The pound is bouncing informed Friday once having lost nearly earlier in the week, on the rear of the negative outlook of the united kingdom, hit laborious by the COVID-19 pandemic and Brexit uncertainty.
The market, however, is welcoming with optimism the easing of lockdown restrictions, on hopes that world economic recovery from the coronavirus closing can be quicker than expected. moreover, April’s the United States Non-Farm Payrolls report, which has shown a less than expected job destruction, has contributed to the positive market mood.
GBP/USD trapped among a variety between 1.2235 and 1.2645
From a longer-term perspective, the currency pair remains forex trading sideways between 1.2235 and 1.2645 and, in line with the FX Strategists at UOB cluster it's probably to stay in this area for ensuing weeks; ‘The break of the ‘strong support’ level at 1.2370 on Wed (06 May) suggests that last week’s 1.2644 high may be a short-term high. That said, downward momentum is lackluster and it's too early to expect a sustained decline. From here, GBP is additional probably to consolidate and trade between 1.2280 and 1.2500 for an amount.”
HotForexsignal
Active Member
GBP/USD currency pair struggles close to multi-week lows, simply higher than mid-1.2100s post-US retail sales
The market sentiment remained fragile within the wake of growing fears regarding the second wave of coronavirus infections and weakening hopes for a fast world economic recovery. The already weaker sentiment deteriorated any amid worsening US-China trade relations, particularly when the United States Commerce Department declared to bar Huawei from exploiting semiconductors and chipsets created using US software system and technology.
The subsequent tweet by Hu Xijin, editor-in-chief of the global Times, sent a transparent message that China wants to reply. This, in turn, crumpled investors' craving for riskier, which was evident from a recent leg down within the equity markets and provided a goodish raise to the greenback's perceived safe-haven standing. Resurgent USD demand was seen mutually of the key factors behind the pair's sharp collapse the past hour close to.
The USD control steady following the discharge people monthly Retail Sales report for Apr, which showed a worse-than-expected, 6.4% the headline figures. Adding to the current, sales excluding autos plunged 17.2% throughout the according month closely watched Retail Sales management group also recorded a steep decline of 15.3%.
Given that the market was already anticipating calamitous numbers on the rear of nationwide lockdowns, the information did very little to influence the USD value dynamics and supply any significant impetus to the GBP/USD pair major. It will currently be fascinating to envision if the pair is ready to search out any support at lower levels or continues with its current pessimistic flight. Its value mentioning that the pair has already confirmed a bearish break through the double-top neck support close to the 1.2300 marks and thence remains liable to slide any.
- An unexpected pickup within the USD demand prompted some recent selling around GBP/USD pair on Friday.
- Escalating US-China tensions crumpled the already weaker sentiment and underpinned the USD.
- Worse-than-expected US monthly Retail Sales information did very little to produce any significant impetus.
The market sentiment remained fragile within the wake of growing fears regarding the second wave of coronavirus infections and weakening hopes for a fast world economic recovery. The already weaker sentiment deteriorated any amid worsening US-China trade relations, particularly when the United States Commerce Department declared to bar Huawei from exploiting semiconductors and chipsets created using US software system and technology.
The subsequent tweet by Hu Xijin, editor-in-chief of the global Times, sent a transparent message that China wants to reply. This, in turn, crumpled investors' craving for riskier, which was evident from a recent leg down within the equity markets and provided a goodish raise to the greenback's perceived safe-haven standing. Resurgent USD demand was seen mutually of the key factors behind the pair's sharp collapse the past hour close to.
The USD control steady following the discharge people monthly Retail Sales report for Apr, which showed a worse-than-expected, 6.4% the headline figures. Adding to the current, sales excluding autos plunged 17.2% throughout the according month closely watched Retail Sales management group also recorded a steep decline of 15.3%.
Given that the market was already anticipating calamitous numbers on the rear of nationwide lockdowns, the information did very little to influence the USD value dynamics and supply any significant impetus to the GBP/USD pair major. It will currently be fascinating to envision if the pair is ready to search out any support at lower levels or continues with its current pessimistic flight. Its value mentioning that the pair has already confirmed a bearish break through the double-top neck support close to the 1.2300 marks and thence remains liable to slide any.
HotForexsignal
Active Member
GBP/USD currency pair value Analysis: Recovery stalls close to 200-hour SMA/descending trend-line confluence barrier
The GBP/USD currency pair designed on the previous day's sturdy intraday recovery from multi-week lows and gained some follow-through traction for the second consecutive session on Tuesday. The currency pair shot to a four-day high level of 1.2267, albeit struggled to increase the momentum and failing close to a declivitous trend-line resistance extending from late-April swing highs.
The mentioned hurdle currently coincides with 200-hour SMA and may act as a key important purpose for traders because the focus now shifts to the Fed Chair Jerome Powell's congressional testimony.
Meanwhile, technical indicators on hourly charts are gaining positive traction and support prospects for an extension of the pair's current recovery from sub-1.2100 levels. However, oscillators on the daily chart are however to catch up with the momentum and maintained their bearish bias, warranting some caution before putting any aggressive bullish bets.
Hence, it'll be prudent to attend for a sustained strength on the far side of the mentioned confluence hurdle before positioning for any more near-term appreciating move for the most important. The currency pair may then head towards reclaiming the 1.2300 round-figure marks before bulls eventually aim to check the following major hurdle close to the 1.2330-40 horizontal level.
On the flip facet, weakness back below the 1.2200 marks can reinforce the stiff resistance and may prompt some recent selling, dragging the currency pair any towards the 1.2175 support. Some follow-through selling currently appears to show the currency pair at risk of accelerates the autumn back towards the 1.2100 marks with some intermediate support close to the 1.2130 area.
- GBP/USD currency pair added to the previous day’s sturdy recovery move from multi-week lows.
- Mixed oscillators on hourly/daily charts warrant some caution for aggressive forex traders.
The GBP/USD currency pair designed on the previous day's sturdy intraday recovery from multi-week lows and gained some follow-through traction for the second consecutive session on Tuesday. The currency pair shot to a four-day high level of 1.2267, albeit struggled to increase the momentum and failing close to a declivitous trend-line resistance extending from late-April swing highs.
The mentioned hurdle currently coincides with 200-hour SMA and may act as a key important purpose for traders because the focus now shifts to the Fed Chair Jerome Powell's congressional testimony.
Meanwhile, technical indicators on hourly charts are gaining positive traction and support prospects for an extension of the pair's current recovery from sub-1.2100 levels. However, oscillators on the daily chart are however to catch up with the momentum and maintained their bearish bias, warranting some caution before putting any aggressive bullish bets.
Hence, it'll be prudent to attend for a sustained strength on the far side of the mentioned confluence hurdle before positioning for any more near-term appreciating move for the most important. The currency pair may then head towards reclaiming the 1.2300 round-figure marks before bulls eventually aim to check the following major hurdle close to the 1.2330-40 horizontal level.
On the flip facet, weakness back below the 1.2200 marks can reinforce the stiff resistance and may prompt some recent selling, dragging the currency pair any towards the 1.2175 support. Some follow-through selling currently appears to show the currency pair at risk of accelerates the autumn back towards the 1.2100 marks with some intermediate support close to the 1.2130 area.
GBP/USD Price Analysis: Pound approaching the May’s lows, trading sub-1.2200 figure
GBP/USD is trading below its main SMAs on the daily chart suggesting a bearish bias as the market is on track to a three-day losing streak.
GBP/USD is trading below the main SMAs on the four-hour chart suggesting a bearish bias in the medium-term. As the market is printing lower lows and lower highs the bears should remain in control with a potential break below the 1.2150 support en route towards the 1.2100 and 1.1950 levels. On the other hand, occasional bullish attempts should find resistance near the 1.2300 and 1.2400 levels initially.
GBP/USD is trading below its main SMAs on the daily chart suggesting a bearish bias as the market is on track to a three-day losing streak.
GBP/USD is trading below the main SMAs on the four-hour chart suggesting a bearish bias in the medium-term. As the market is printing lower lows and lower highs the bears should remain in control with a potential break below the 1.2150 support en route towards the 1.2100 and 1.1950 levels. On the other hand, occasional bullish attempts should find resistance near the 1.2300 and 1.2400 levels initially.
HotForexsignal
Active Member
Forex Market Analysis - NZD/USD currency pair remains confined during a range below 0.6200 marks, 100-DMA
The currency pair stalled the nightlong pullback from 2-1/2 month tops close to mid-0.6100s and managed to regain some positive traction on Thursday. The uptick was supported by the upbeat market mood and a few revived US greenback selling pressure.
The global risk sentiment remained well supported by optimism over a possible COVID-19 and hopes of a pointy formed recovery for the world economy. This, in turn, damaged the greenback’s relative safe-haven standing and benefitted perceived riskier currencies, just like the kiwi.
Meanwhile, investors stay involved a few more increase in diplomatic tensions between the U.S. and China, which ought to hold back bullish traders from putting recent bets and keep a lid on any sturdy gains for the NZD/USD currency pair.
Even from a technical perspective, the currency pair has been troubled to search out acceptance/build on its momentum on the far side 100-day SMA close to the 0.6200 marks.
Moving ahead, market participants currently expect to a slew of necessary U.S. country macro information for a few recent impetuses later throughout the first North American session. Thursday’s US economic docket highlights the discharge of the second estimate of Q1 GDP, consumer goods Orders for April, Initial Weekly unemployed Claims, and unfinished Home Sales.
- NZD/USD currency pair gained some traction amid the emergence of some recent USD selling.
- The upbeat market mood weighed on the safe-haven USD and benefitted the kiwi.
- Concerns regarding worsening US-China relations may keep a lid on any sturdy gains.
- A sustained move on the far side 0.6200 marks required to verify a near-term bullish bias.
The currency pair stalled the nightlong pullback from 2-1/2 month tops close to mid-0.6100s and managed to regain some positive traction on Thursday. The uptick was supported by the upbeat market mood and a few revived US greenback selling pressure.
The global risk sentiment remained well supported by optimism over a possible COVID-19 and hopes of a pointy formed recovery for the world economy. This, in turn, damaged the greenback’s relative safe-haven standing and benefitted perceived riskier currencies, just like the kiwi.
Meanwhile, investors stay involved a few more increase in diplomatic tensions between the U.S. and China, which ought to hold back bullish traders from putting recent bets and keep a lid on any sturdy gains for the NZD/USD currency pair.
Even from a technical perspective, the currency pair has been troubled to search out acceptance/build on its momentum on the far side 100-day SMA close to the 0.6200 marks.
Moving ahead, market participants currently expect to a slew of necessary U.S. country macro information for a few recent impetuses later throughout the first North American session. Thursday’s US economic docket highlights the discharge of the second estimate of Q1 GDP, consumer goods Orders for April, Initial Weekly unemployed Claims, and unfinished Home Sales.
Create an account or login to comment
You must be a member in order to leave a comment
Create account
Create an account on our community. It's easy!
Log in
Already have an account? Log in here.
Members Online
- Rubin1968
- GenysisFX
- makll
- sathish mohan
- imran777
- mercyakeju
- PhanJeho23
- Raseasala
- Hariz
- airawanp
- cruznuno
- saintRiot
- ramilkak
- Jordi Candelich
- Trader500
- Tyga
- manan03
- mrgfx
- kuru
- forextraderaz
- fgamarrac
- verywelloo
- Moyeni247
- goliveira
- bsk1970
- mireazizi
- Adefila
- rambus
- albertojzm
- jreformado
- ashraf9040
- mooseuk
- forexcitarum
- Al3jmi222
- makromeo
- Nabilra
- benimbenim
- Amin Bouarori
- Kwazii
- geshintees
- chenems44
- Heat
- mikasa
- enzothea
- Tiroyaone Major Diane
- Jankie
- Piet kamogelo
- Dyantyi
- anadenanthera
- PMendes
