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GBP/USD meets fresh supply as US dollar recovers further ground, knock-off  further towards the 1.3650 level. European vaccine row and Wall Street meme frenzy spook investors. EUR/USD showed a little reaction to the encouraging German growth numbers, as the sentiment remains tepid amid the recent Wall Street frenzy. The major was last seen trading at 1.2117, modestly flat on the day. Focus sh...

GBP/USD is consolidating the downside below 1.3700 following the FOMC decision-led decline to near the 1.3650 region. EUR/GBP gained some traction on Thursday and recovered further from multi-month lows. The imposition of fresh COVID restrictions in the UK continued weighing on the British pound. ECB jawboning on the euro strength might keep a lid on any meaningful gains for the cross. EUR/USD cam...

GBP/USD seesaws around 1.3730 after refreshing the 32-month high during early Wednesday. The quote initially cheered the market’s optimism surrounding the coronavirus (COVID-19) vaccine and the US dollar weakness before allowing the bulls to catch a breather amid virus woes in the UK and wait for the key Federal Reserve meeting. GBP/USD's immediate technical bias remains bullish, as the higher low...

The GBP/USD pair remained depressed below mid-1.3600s, or near multi-day lows and had a rather muted reaction to upbeat UK employment details. The number of people claiming jobless benefits rose by 7K in December, against expectations +35K and 38.1K seen previously. The downbeat market mood benefitted the safe-haven USD and exerted pressure on GBP/USD. EUR/USD sees a V-shaped reversal just above t...

GBP/USD surrenders intraday gains, flirts with session lows near 1.3670 area. GBP/USD struggled to preserve early gains and retreated around 50 pips from tops. Concerns about the economic impact of COVID-19 held bulls from placing fresh bets. A modest pickup in the USD demand exerted some additional pressure on the major. The recent close above 1.3712 on a daily chart closing basis pushes the 1.38...

UK Manufacturing PMI misses estimates with 52.9 in Jan. Services PMI in  the UK contracts to 38.8 in Jan, a big miss. GBP/USD sees fresh supply  and hits daily lows near 1.3660. Eurozone Manufacturing PMI arrives at  54.7 in Jan vs. 54.6 expected. Bloc’s Services PMI stands at 45.0 in Jan  vs. 45.0 expected. The shared currency extends gains fuelled by the  German PMI read...

GBP/USD caught aggressive fresh bids for the third consecutive session  on Thursday. The upbeat market mood undermined the safe-haven USD and  remained supportive. Sustained move beyond the 1.3700-1.3710 area has  set the stage for additional gains. EUR/USD regains upside traction  above the 1.2100 mark. Risk appetite continues to favour the single  currency. ECB’s interes...

The sentiment around the pound remains buoyed by the upbeat UK CPI  figures, with GBP/USD holding the higher ground near 1.3670 levels. The  major adds 0.28% on a daily basis. The UK Consumer Prices Index (CPI)  12-month rate came in at +0.6% in December when compared to +0.3% booked  in November while beating expectations of a +0.5% print. EUR/USD has  been advancing afte...

GBP/USD stays mildly positive while picking up bids above 1.3600,  remaining poised for additional gains amid favourable technicals.  200-HMA and bullish crossover keep the buyers hopeful. 100-HMA at 1.3625  is on sight amid bullish RSI. Brexit deal reaches the House of Commons  for revoting, UK-China tussle intensify. UK NHS Chairwoman fears the  pandemic will throw unpre...

GBP/USD is below 1.36. While bears push sterling to oversold conditions,  Britain's rapid vaccination campaign and optimism about the Biden era  may prompt a bounce. Support below 1.35 awaits at 1.3455, the 2020  trough, followed by 1.33, a stepping stone on the way up in late  December. Some resistance is at 1.3545, which was a cushion early in the  year. It is followed b...

GBP/USD has been hovering below 1.37 as markets digest Biden and  Powell's speeches. The UK's vaccination campaign and weak US data may  push cable above the strong 1.37 resistance. Critical resistance is at  around 1.37-1.3705, which is now a triple-top after halting the pair's  ascent in once again. Beyond 1.37, the next levels to watch are 1.3730,  1.3810, and 1.40 – al...

The GBP/USD pair has been torn between optimism about the UK vaccine  rollout and US stimulus hopes. Economists at Credit Suisse anticipate  the Bank of England will increase its assets purchases by a further  GBP150 B at its 4 February meeting, continuing a policy of fully  financing gilt issuance. But critically, and contrary to market pricing,  they do not expect the Bo...

The GBP/USD pair has been advancing amid bond-related dollar weakness  and BoE hawkishness but the initial surge above 1.37 may prove  short-lived despite good reasons to rise. GBP/USD continues trading in  an upwards channel and is nearing the 2021 peak of 1.3705 – also the  highest since 2018. While momentum on the 4-hour chart is positive, the  Relative Strength Index i...

The GBP/USD pair refreshed daily tops, around the 1.3565-70 region. Bank  of England (BOE) Governor Andrew Bailey said that it appears less  severe than that in spring last year. Negative rates are a controversial  issue. There are a lot of issues with negative rates. No country has  used negative rates in 'retail' end of the financial market. There are  good reasons to th...

GBP/USD lost critical support at 1.3545 as the cable tumbled down due to  Fed-related dollar strength and the UK's dire COVID situation. 1.3445  now turns from support to resistance. It is followed by 1.3640, a swing  high last week, followed by the recent peak of 1.3705. EUR/USD loses  further traction and drops below the 1.22 level. The recovery in the  greenback keeps t...

MHRA has approved Moderna's COVID-19 vaccine for use, as reported by  Reuters. The GBP/USD pair was up 0.25% near 1.3600. GBP/USD eyes 1.36 as  the US dollar remains firmer on the session. Cracks key averages on the  hourly chart, RSI stays bullish. Fresh Brexit also remains a cause for  concern ahead of NFP. The national lockdown announced on January 4 will  ensure a doub...

Markets have been shrugging off the storming of the Capitol by  supporters of President Donald Trump. Investors focus on Democrats' win  of the Senate after the elections in Georgia, pushing stocks higher. The  dollar is torn by a move away from the safe-haven currency and higher  yields. Coronavirus and vaccine statistics and jobless claims are eyed.   Britain is str...

The USD witnessed some fresh selling during the early European session  and pushed the GBP/USD pair to two-day tops, around mid-1.3600s. The  pair quickly reversed an intraday dip to sub-1.3600 level and moved into  the positive territory for the second consecutive session on Wednesday.  The uptick also marks the fifth day of a positive move in the previous  six and was ex...

GBP/USD trims the previous day’s losses with eyes on April 2018 peak at  1.37 level. US dollar drops amid cautious optimism backed by virus  vaccine, Georgian runoff hopes. UK announced third lockdown, fears of  South African variant of COVID also loom. US ISM Manufacturing PMI, UK  virus updates and American politics will be the key. EUR/USD is holding  above 1.2250 but C...

GBP/USD trims early Asian gains that refreshed multi-month top to  1.3698, before currently declining to 1.3680, up 0.10% intraday, while  heading into the London open on Monday. A one-month-old ascending trend  line near 1.3745 lures GBP/USD buyers unless the quote drops below  September 2020 high near 1.3480. The new year has begun with the dollar  on the back foot and a...

The official announcement on a likely Brexit deal could be delayed by a minimum of a couple of hours, as the talks on the key issue of fisheries continue, several media houses reported. GBP/USD holds the higher ground, as the bulls aim to conquer the 1.36 barrier amid optimism over a potential Brexit deal. EUR/USD clings to 1.2200 as Brexit optimism downs the USD. The dollar was down on Thursday m...

The GBP/USD pair refreshed daily tops, around the 1.3415 region in the last, albeit quickly retreated few pips thereafter. The pair was last seen trading near the 1.3440-45 region, up around 0.50% for the day. The pair built on the overnight late rebound from the vicinity of the 1.3300 mark and gained some strong follow-through traction through the first half of the trading action on Wednesday. De...

A modest pickup in the USD demand prompted some fresh selling around  GBP/USD on Tuesday. The discovery of a new COVID-19 strain continued  driving some haven flows towards the USD. Hopes for a last-minute Brexit  deal extended some support to the GBP and helped limit losses. EUR/USD  failed to capitalise on the overnight bounce and witnessed some fresh  selling on Tuesday...

GBP/USD added to its steep intraday decline and plunged to over one-week  lows. New coronavirus strains led to fresh lockdown in the UK and  weighed on the GBP. Weaker risk tone benefitted the safe-haven USD and  contributed to the selling bias. The pair opened with a bearish gap on  the first day of a new trading week in reaction to the imposition of  tighter restrictions...

GPB/USD struggles near session lows, around 1.3500 mark on no-deal Brexit talks. Fading hopes for a last-minute Brexit deal prompted some aggressive selling around GBP/USD. A modest USD short-covering bounce contributed to the ongoing pullback from multi-year tops. The intraday selling around the British pound picked paced in the last hour and dragged the GBP/USD pair back below the key 1.3500 psy...