Posts Tagged ‘GBP/USD’

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Strong Inflation Data Fail to Boost Sterling’s Rise

It is not a good day for bulls who trade the GBP/USD pair. The British currency loses ground against its American counterpart despite the strong inflation report from the United Kingdom. The UK's inflation rate hit the highset level in 5 and half years in September in annual terms. The consumer prices grew by 3% as expected. This is an obvious sign that it is the right time for the British central bank to take […]

Will USD Buyers Return to Market?

Traders keep closing USD buy deals profitably. As a result, the US dollar index resumed its downward movement and returned to the levels near 93.00 hit at the end of the previous month. The demand for the greenback decreased as it seems the US President will hardly fulfill his pre-election promise of the tax cut reform. Heated argument between Donald Trump and one of the most influential senators, Bob Corker, concerned investors. Confrontation with Congress […]

Theresa May Triggers GBP Rally

The European traders rushed to buy the euro and the pound sterling. The GBP/USD pair is steadily approaching weekly highs, trading next to 1.32. The pound sterling regained strength in light of a speech by Theresa May on Monday. Yesterday, she stated that private talks are more efficient in Brexit negotiations than the official ones. Apart from that, she indicated that the UK would retain access to the single European market. On the other hand, […]

EUR/USD and GBP/USD Forecast — October 5th 2017

In this video, the Trader Guy looks at the currency pairs EUR/USD and GBP/USD for the October 5th session. EUR/USD — As you can see, we did rally slightly during the day here on Wednesday, as we continue to show a little bit of resiliency, but I think eventually we will probably go looking towards the 1.20 level. A break above 1.21 should continue to send this market even higher. A breakdown from here […]

EUR and GBP Inching Lower Despite USD Correction

Despite correction in the US dollar, traders are cautious during the European session. The EUR/USD pair is trading at 1.1773, coming off the 1.1740 level. Mixed macroeconomic statistics revealed in the eurozone prevents the single currency from rallying to 1.18. The business activity in the region increased. The PMI Composite increased to 56.7 in line with expectations. The services sector showed a sharp advance with the corresponding index climbing to 55.8. The data pointed to the strength of the eurozone's […]

European Traders Neglect Euro

Today, European traders prefer to buy the US dollar rather than the euro. Market participants are uneasy about the Catalonian referendum on independence that was banned by the Spanish government. Police officers interfered with the election and over 800 people were injured as a result. Prime Minister of Spain Mariano Rajoy supported actions of the police saying that there was no referndum at all. Meanwhile, 90% of Catalans voted for separating from […]

GBP/USD Holding at Lows

The British currency lost its momentum against the US dollar on the back of weak macroeconomic statisitics from the UK. According to the final data, the UK GDP grew by 1.5%. A fast increase of 1.7% had been estimated. On a quarterly basis, the country's economy advanced by 0.3%, in line with the forecasts of the experts. At the same time, the trade deficit in the UK turned out to be bigger than expected. The trade shortfall totaled 23 billion 182 million […]

GBP/USD Remains Under Pressure — Forecast — September 27th 2017

In this video, the Trading Central looks at the currency pair GBP/USD for the September 27th session. GBP/USD — Looking at the intraday 30-min chart, the pair remains under pressure and capped by the declining 50-period Moving Average. The intraday RSI is capped by the declining trendline, in place since last Friday. Further weakness is also expected below the strong horizontal resistance at 1.3490 with first target set at yesterday's bottom at 1.3405 and the next target […]

EUR/USD and GBP/USD Forecast — September 26th 2017

In this video, the Trader Guy looks at the currency pairs EUR/USD and GBP/USD for the September 26th session. EUR/USD — As you can see that we have gapped lower and then turned around to rally and fill that gap, and only to fall again. So, it looks to me that we are going to continue to find selling pressure, which is a negative sign. We are sitting right on support though. If […]

Why Sterling Loses Ground?

The US dollar is trading broadly higher. The British pound, alongside other rival currencies, fails to recover its losses against the greenback. The GBP/USD pair is trading at 1.3480 level. On Monday, the sterling lost over 50 pips, previously gained after the Bank of England meeting results, to the greenback. On September 14th, two officials of the British central bank voted for an interest rate hike. The reasons they name for the rate increase influenced […]