Introduction GBP/USD encountered selling pressure following the European market open, as the currency pair faced increasing momentum for a deeper pullback. The 1.2700 level has proven to be a formidable barrier for Cable bulls, leading to the possibility of a retest of the 50-day moving average. Additionally, analyzing the currency.
The GBP/USD currency pair has exhibited a general upward bias within an ascending channel that commenced on March 20, 2023. This channel’s formation is an extension of the pair’s upward movement since September of the previous year. While the exchange rate briefly breached the upper boundary of the channel in.
The GBP/USD currency pair is experiencing a period of uncertainty as Sterling trades on either side of 1.2700 against the US dollar, confined within a small trading range. The British Pound has been finding support from higher bond yields, but fears of an impending recession are capping any potential upside.
As the GBP/USD currency pair continues to navigate through the foreign exchange market, it nears a crucial short-term support level at 1.2667. Traders and investors are keeping a close eye on this critical juncture, as a breach or rebound could have significant implications for the pair’s direction. This article delves.
The GBP/USD currency pair demonstrated a remarkable rally during Asian trading hours, reaching a high of approximately 1.2745. This surge can be attributed, at least in part, to the weakening US Dollar. As the European markets prepared to open, market participants keenly observed the pair’s performance, with hopes of surpassing.
In the near term, the GBP/USD currency pair is displaying a soft bias, indicating a potential downward trend. However, the pair is finding support from crucial levels, specifically a converged cushion ranging from 1.2625 to 1.2675. This support zone holds considerable significance as it aligns with an uptrend line from.
In the world of forex trading, monitoring the sentiment of retail traders can provide valuable insights into market dynamics. A recent analysis of retail trader data reveals that 36.68% of traders are net-long on GBP/USD, with a short-to-long ratio of 1.73 to 1. Taking a contrarian view, this suggests that.
The GBP/USD pair experienced a drop of around 0.30% in the late New York session, settling around the 1.2700 level. The decline was driven by growing concerns of a potential recession in the UK, as recent data indicated a deceleration in business activity. Adding to the bearish sentiment was the.
Introduction: In the dynamic world of currency trading, the GBP/USD pair has caught the attention of market participants. The forecasts and analyses provided by UOB Group’s esteemed Economist Lee Sue Ann and Markets Strategist Quek Ser Leang shed light on the expected path of this influential currency pair. As per.
Introduction As the British pound (GBP) continues to showcase resilience and strength, economists at ING provide their insights into the GBP’s outlook, particularly against the US dollar (USD) and the euro (EUR), in anticipation of the upcoming Bank of England (BoE) meeting. With a focus on both short-term and long-term.
The GBP/USD pair has experienced a second consecutive day of downward movement, with the British pound drifting lower against the US Dollar. Despite the decline, the downside appears limited at the moment. The US Dollar’s strength is a key factor driving the downward pressure on GBP/USD, with rising bond yields.
Introduction: GBP/USD experienced a notable 1.95% gain last week, but the currency pair has recently paused as traders await crucial economic events and central bank decisions. In this article, economists at Société Générale provide an in-depth analysis of the GBP outlook, examining the factors that could influence its future performance..