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GBP/USD hangs near weekly lows, just above mid-1.3800s. GBP/USD witnessed some follow-through selling on Friday amid a broad-based USD strength. The downside seems limited as the focus shifts to the release of the US monthly jobs report. EUR/USD looks weaker and clinches 2021 lows near 1.1920. EUR/USD loses further ground and drop to the 1.1920 area. German Factory Orders expanded 1.4% MoM in Janu...

GBP/USD trades with modest losses below mid-1.3900s. Sustained USD buying prompted some selling around GBP/USD on Thursday. The downside seems limited ahead of the Fed Chair Jerome Powell’s speech. The lack of any meaningful buying interest and repeated failed attempts to move back above the key 1.4000 psychological mark suggests that the positive news is fully priced in. Hence, any attempted move...

UK Finance Minister Rishi Sunak will be in the global stoplight as he will deliver his second annual budget for the British economy. While the Chancellor of the Exchequer has already signalled readiness to do “whatever it takes”, traders would seek clues as to how the present freebies will be curtailed in the future to determine immediate GBP/USD moves. GBP could edge below last week’s low at 1.38...

GBP/USD remains depressed below 1.3900 mark, hangs near 1-1/2-week lows. The USD buying interest picked up pace during the early European session and dragged the GBP/USD pair to one-and-half-week lows, around the 1.3865 region in the last hour. A sustained break below the 1.3900 mark might have shifted the bias in favour of bearish traders. EUR/USD sheds ground for the third session in a row and b...

GBP/USD faced rejection near the 1.4000 mark and trimmed a part of its intraday gains. An optimistic UK economic outlook extended some support and helped limit the downside. An upward revision of the UK Manufacturing PMI for February, which was finalized at 55.1 as against 54.9 estimated, extended some support to the GBP/USD pair. EUR/USD continues its march south after being rejected from recent...

GBP/USD remained under some selling pressure for the second straight session on Friday. The intraday downtrend managed to find some support near the 1.3900 confluence level. Mixed technical indicators warrant some caution before placing aggressive directional bets. EUR/USD comes under pressure and returns to 1.2130.The dollar bounces off lows on the back of higher yields. US PCE takes centre stage...

GBP/USD has bounced off the lows as Powell's dovish message weighs on the dollar. An attack on 1.42 looks imminent, Markets seemed to have been waiting for a further reassuring from Jerome Powell, Chairman of the Federal Reserve, before making another convincing move higher. The upbeat mood is adverse for the dollar, despite higher bond yields. The British pound remained well supported by the impr...

GBP/USD consolidates the spike to 1.4234. However, the cautious tone seen around the major could be mainly attributed to the overbought conditions on the Relative Strength Index (RSI), given the daily timeframe. The bulls are now contemplating the next move, with the 1.4300 level still on sight. Although a correction could be in the offing before the cable takes a flight once again northwards. To...

Having tested the 1.4100 level in the last hour, GBP/USD is consolidating the latest leg higher around 1.4080, up 0.11% on the day. EUR/USD is gaining 0.09% at 1.2164 and a breakout of 1.2179 (weekly high Feb.23) would target 1.2189 (weekly high Jan.22) en route to 1.2349 (2021 high Jan.6). On the downside, the next support at 1.2023 (weekly low Feb.17) followed by 1.2004 (100-day SMA) and finally...

GBP/USD is back on the bids in the European session, once again approaching the 1.4050 level to retest the 35-month highs. Boris Johnson’s office announced that the four conditions to ease the covid-induced lockdown are met and therefore, the government can proceed with the first step of reopening the economy from March 8. Meanwhile, PM Johnson said that “we will be setting out a roadmap to bring...

UK Manufacturing PMI beats estimates with 54.9 in Feb. Services PMI in the UK jumps to 49.7 in Feb, a big beat. GBP/USD sees fresh demand and renews multi-month tops above 1.40. EUR/USD clinches fresh tops in the 1.2140 region. Flash German, EMU Manufacturing PMI surprised to the upside. Flash PMIs, housing data, Fed speak next on tap in the NA session. The Dollar Index was down 0.1% at 90.483, af...

GBP/USD caught some aggressive bids during the early European session. The momentum pushed the pair back above the 1.3900 round-figure mark. President Joe Biden may struggle to pass his proposed $1.9 trillion covid relief program and that means less debt issuance. In turn, Treasury yields may drop off their highs, and make the dollar less attractive. The Federal Reserve's sanguine approach to infl...

Cable witnessed some selling during the first half of the trading action on Wednesday and retreated further 34-month tops, around mid-1.3900s touched in the previous session. The downtick was sponsored by some follow-through US dollar buying interest, which remained well supported by the recent runaway rally in the US Treasury bond yields. The market has been pricing in the prospects for the passa...

GBP/USD is standing out by advancing above 1.39 as the UK reported the lowest number of COVID-19 infections since October and the vaccination campaign continues at a rapid pace. The U.S. dollar was mired at a three-week low on Tuesday as growing optimism about the outlook of the global economy in the coming months sent investors scurrying to purchase riskier currencies including the euro, crown an...

GBP/USD has paused its two-day rally to 34-month highs above 1.3900, as the bulls gather more energy to start afresh northwards. The UK vaccine rollout continues to outperform its peers and along with some positive results in the domestic docket and the likeliness that the BoE will not implement negative rates in the short-term horizon sustained the firm demand for the quid and opened the door for...

GBP/USD near multi-day lows, below 1.3800 mark. Break below the 23.6% Fibonacci. might have paved the way for further weakness. Mixed technical indicators warrant caution before placing fresh bearish bets.  Oscillators on the daily chart – though have been losing positive traction – are yet to confirm the bearish bias. Hence, any subsequent fall is likely to find decent support near the 1.376...

GBP/USD witnessed some profit-taking and edged lower during the early European session. The supportive fundamental backdrop should help limit any meaningful slide for the major. Weakness below the 1.3800 mark might still be seen as an opportunity for bullish traders. GBP/USD maintains its break to a new high for the year to reassert the core uptrend and reinforce the existing long-term base above...

The GBP/USD pair has moved north of 1.3800. The breach of the 1.3800 resistance implies that the GBPU/SD may extend its run all the way to 1.4000, although the immediate next target is at 1.3880. Strong vaccination drive, and being past the peak of the most recent pandemic surge will be supportive of the cable pair. The risk sentiment remains buoyed by the US stimulus hopes, upbeat earnings report...

The GBP/USD pair has been hitting new multi-year highs, driven by dollar weakness. The cable could surge above 1.38 as the UK continue pushing immunization with full force. The pound is well-positioned to take advantage of the dollar's descent, thanks to Britain's vaccination drive. The UK has already jabbed around 18% of its population and is on course to hit the government's goal of reaching aro...

GBP/USD has been retreating amid hopes for a large US stimulus package but Britain's virus advantage may send sterling higher. While the case for robust stimulus remains dollar positive, it is unlikely to pass immediately, allowing for the dollar to take a breather. The UK's vaccination drive is gaining pace, with over 17% of the population already having received one short, nearly double America'...

The GBP/USD pair, which was last seen trading around the 1.3700 mark amid a modest USD pullback, whose upside is likely to remain capped as investors are likely to refrain from placing any aggressive bets heading into the key data risk, due later during the early North American session on Friday. The downtrend in EUR/USD appears to have met some decent contention in the 1.1950 region so far this w...

GBP/USD pair dropped to two-and-half-week lows, further below the 1.3600 mark and was pressured by sustained US dollar buying interest. A surprise rate cut – though seems unlikely – or hints of lowering rates in future could exert some heavy downward pressure on the sterling. Conversely, an upbeat economic assessment – amid the speedy rollout of COVID-19 vaccine in the UK – could provide a modest...

GBP/USD bulls have managed to defend the critical 21-daily moving average (DMA), now at 1.3648, so far this Wednesday. The price breached the latter on Tuesday but recaptured it towards the closing. GBP buyers remain hopeful so long as the price holds above the 21-DMA. The major could likely retest Tuesday’s high at 1.3710. GBP/EUR was still showing strength halfway through the session opening, de...

GBP/USD eases from intraday top while also snapping two-day downtrend. South African virus strain cases without travel history triggered mass testing blitz in Britain, EU tightens rules for foreign visitors. UK PM Johnson stays hopeful for school open, Chancellor Sunak steps back from tax hikes. US President Joe Biden discusses stimulus, market frenzy eases. Renewed USD selling bias assisted GBP/U...

The GBP/USD pair regained positive traction on the first day of a new trading week and retested multi-year tops, around the 1.3755-60 region during the early European session. Diminishing odds for a Bank of England (BoE) rate cut was seen as a key factor that benefitted the GBP while the UK Manufacturing PMI was finalized at 54.1 for January and remained supportive. The single currency starts the...