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UK Interior Minister Priti Patel, a staunch supporter of Brexit, has said that the talks are in a tunnel and parliament may be reconvened if talks conclude with a deal. The senior minister added that the government is ready for a no-deal outcome. The EU term "tunnel" means intense negotiations. GBP/USD has extended its gains above 1.3580, extending its gains and hitting the highest since 2018. The...

Von der Leyen: there is a path to an agreement; GBP/USD nears 1.3479/83. Brexit to knock around 5% off UK GDP in the long run – ABN Amro. GBP/USD nears the September and current December highs which were made at 1.3483 and 1.3540. A drop below the 2020 uptrend line at 1.3142 would negate upside pressure and target 1.2855 November low as well as the 200-day moving average at 1.2759. EUR/USD consoli...

The GBP/USD pair held on to its modest gains near session tops, just below mid-1.3300s and had a rather muted reaction to the UK macro release. COVID-19 vaccine, expectations for more US stimulus undermined the USD and remained supportive. Mixed UK employment detail did little to influence or provide any meaningful impetus to the major. EUR/USD looks set to test 1.2200, fresh multi-year tops. A pe...

GBP/USD has surged above 1.33 after bouncing from the 55-day ma at 1.3137. Nevertheless, the pair still looks at the five-month uptrend at 1.3056 which remains key to sustain the upside pressure. GBP/USD sold off on Friday following the failure at tough resistance at the 1.3500/1.3540 recent high and December 2019 high. It has bounced from the 55-day moving average at 1.3137, but this has not been...

GBP/USD is again backing away from tough resistance at the 1.3500/1.3540 recent high and December 2019 high. We are alert to a set back from here near-term. Nearby support is offered by the 55-day moving average at 1.3129 and also by 1.3050, the five-month uptrend and for now, while above here the market remains bid. EUR/USD came under fresh selling pressure on the renewed virus concerns and ECB p...

GBP/USD is on the back foot after the Brussels' Brexit dinner failed to yield a breakthrough. Ongoing talks, now set to extend through Sunday, overshadow US fiscal stimulus and virus developments. Failing to reach a deal three weeks before the transition expires is an adverse development for the pound. Contingency plans for a no-deal exit are likely to grab the headlines, further weighing on senti...

The GBP/USD pair maintained its bid tone through the early European session and was last seen hovering just below daily tops, around the 1.3380 region. The pair managed to regain some positive traction during the first half of the trading action on Wednesday and for now, has snapped three consecutive days of the losing streak. The uptick was supported by the emergence of some fresh selling around...

A modest pickup in the USD demand prompted some fresh selling around GBP/USD on Tuesday. Concerns about the ever-increasing COVID-19 cases drove haven flows towards the greenback. Investors might refrain from placing aggressive bets, rather prefer to wait for fresh Brexit updates. Euro area GDP grew at a strong pace in third quarter. EUR/USD pair trades with modest gains above 1.2100. The dollar i...

GBP/USD witnessed some follow-through selling for the second consecutive session on Monday. Not so optimistic Brexit-related headlines took its toll on the sterling and exerted some pressure. Softer risk tone benefitted the safe-haven USD and contributed to the pair’s intraday selling bias. With less than four weeks left before the Brexit transition period ends on December 31, the not so optimisti...

GBP/USD bulls turn cautious amid the incoming Brexit-related headlines. Hopes for a last-minute Brexit deal, weaker USD helped limit the downside. Investors await Brexit updates, NFP report for a fresh directional impetus. GBP/USD seesaws in a nearly 25-pip trading range above 1.3445, currently teasing the intraday low of 1.3444 while heading into Friday’s London open. Although US dollar weakness...

The continuation of the upside momentum in Cable is predicted to meet a tough barrier in the 1.3500/15 area, noted Commerzbank. “GBP/USD has eroded its long term downtrend and is approaching the 1.3500/1.3515 December 2019 high. This is a long term pivot and both levels represent major resistance, we would allow for them to hold the initial test.” “Nearby support is offered by the 55 day moving av...

GBP/USD was trading above 1.3400 going into European trading, having hit three-month highs at 1.3440 amid broad-based US dollar weakness. However, the pair dropped back to 1.3350 after the Medicines and Healthcare Products Regulatory Agency (MHRA), the UK’s medical regulator, gave a green signal to the coronavirus vaccine co-developed by BioNTech SE and Pfizer Inc on Wednesday, concluding it’s bot...

GBP/USD eases from the intraday high of 1.3366 while trading near 1.3360 during the pre-London open session on Tuesday. The Cable prints 0.25% intraday gains by press time as the bulls prefer following US dollar (USD) declines over Brexit headlines ahead of the UK Manufacturing PMI for November. US dollar index (DXY) fades bounce off the lowest since April 2018, marked the previous day, as US offi...

The pound is feeling the pull of the gravity on the downbeat Brexit comments, with GBP/USD trading flat at 1.3316, as of writing. The spot erased all the gains and hit a daily low of 1.3306. If there is no agreement on fisheries, the whole (Brexit) thing could fall on the back of it,” Irish Foreign Minister Simon Coveney warned on Monday. “Fisheries is a more difficult issue than level playing fie...

GBP/USD’s path of least resistance appears to the upside. The spot charted a bull pennant on the 15-minutes chart. Bullish crossover and RSI add credence to the advance. EUR/USD is edging higher as the pair is currently hovering around 1.1930, up 0.15% on the day. Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, maintains a bullish outlook while the EUR/USD pair trades above the 1.18 le...

GBP/USD rallied as high as the mid-1.3390s on Wednesday, but has since eased off back to close to 1.3380. The pair is eyeing a test of highs set on Monday at 1.3398, ahead of a test of the psychologically important 1.3400 level. The UK Finance Minister Rishi Sunak’s effort to tame the biggest budget deficit since world war two couldn’t disappoint the Cable buyers the previous day as the US dollar...

GBP/USD remains choppy inside a narrow trading range, currently around 1.3377, while heading into Wednesday’s London open. The pair traders mark indecisiveness amid a lack of major data/events as well as mixed clues for Brexit. Also challenging the pair’s move could be the cautious mood ahead of the UK’s Autumn Forecast Statement and US GDP, not to forget FOMC minutes. According to the UOB group,...

GBP/USD prints mild gains above 1.3300, currently up 0.10% around 1.3300, while heading into Tuesday’s London open. GBP/USD is approaching a 13-year downtrend at 1.3422 where the cable is expected to fail and reverse back with support seen at 1.3004, per Commerzbank. Although key issues like fisheries, governance and competition remain unsolved, the Telegraph came out with the news, also conveyed...

GBP/USD rose 0.4% to 1.3329, helped by the AstraZeneca vaccine news. Addiitionally, U.K. Chancellor of the Exchequer Rishi Sunak said Sunday that he is optimistic that a Brexit trade agreement with the European Union will be reached soon. Still, even if the UK-EU trade deal is reached, “the lack of risk premia priced into GBP suggests only a limited upside,” said analysts at ING, in a research not...

The UK retail sales came in at 1.2% over the month in October vs. 0% expected and 1.5% previous. The core retail sales, stripping the auto motor fuel sales, stood at 1.3% MoM vs. 0.1% expected and 1.6% previous. On an annualized basis, the UK retail sales jumped by 5.8% in October versus 4.2% expected and 4.7% prior while the core retail sales increased by 7.8% in the reported month versus 5.9% ex...

GBP/USD fell sharply from above 1.3300 and was last seen trading around 1.3230, down -0.3% on the day. Initial support awaits at 1.2995 as Commerzbank expects the cable to fail in the 1.3310- 1.3422 band. Bloc members to push the European Commission for no-deal Brexit preparations, UK policymakers were hopeful earlier. Ascending triangle breakdown confirmed on the 4H chart. Bullish RSI points nort...

GBP/USD remained well supported by the latest Brexit optimism. Slightly better UK consumer inflation figures remained supportive. GBP/USD keeps gains around 1.3265 on the data release. The UK Consumer Prices Index (CPI) 12-month rate came in at +0.7% in October when compared to +0.5% booked in September while beating expectations of a +0.6% print, the UK Office for National Statistics (ONS) report...

GBP/USD prints three-day winning streak despite easing off-late, trading at 1.3220. The pound could fall as much as 5% against the US dollar if the UK and European Union (EU) fail to reach a Brexit trade deal, the latest Bloomberg survey of nine strategists revealed on Tuesday. A two-week-old support line, currently near 1.3160, restricts the short-term downside of GBP/USD ahead of 1.3080/75 rest-...

GBP/USD at four-day tops, extending its bullish momentum above 1.3200, as US dollar loses further ground. Risk-on mood overshadows discouraging Brexit developments. Focus remains on the covid stats amid light economic docket.  EUR/USD prints gains as risk-on weighs over the safe-haven greenback, in the 1.1850 neighborhood. The rising coronavirus cases across the Eurozone could cap upside in t...

Cable is likely to trade between 1.3000 and 1.3250 in the next weeks, noted FX Strategists at UOB Group. GBP/USD awaits fresh clues while taking rounds to the weekly low, off intraday bottom recently. Coronavirus cases in the UK, the US refresh record high, British economy losses more momentum in September. Brexit signals keep being mixed, UK’s finance ministry can extend tax break to manufacturer...