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UK GDP arrived at +2.1% MoM in August vs. +4.6% expected. GBP/USD holds on to modest gains near 1.2950 post-data. EUR/USD looks north as the dollar takes a beating against most currencies. China’s Caixin Services Purchasing Managers Index rose to 54.8 in September, against August’s reading of 54, remaining in positive territory for a fifth consecutive month, suggesting the second largest economy i...

GBP/USD keeps previous day’s recovery moves from 1.2844. Pubs and restaurants in Northern England go off from next Monday with UK’s 14,162 new daily cases of COVID-19. EU keeps hardstand on fisheries, Tories threaten to leave talks on October 15. BOE’s Bailey will speak in an online panel discussion at the Single Resolution Board's annual conference. Cable’s prospect remains mixed and is now forec...

The GBP/USD pair has failed on its initial test of the mid-September high at 1.3008. The market charted an outside day to the downside and although we are unable to rule out a slightly deeper move to 1.3070, this seems less likely, according to Commerzbank. "Should the market fail in the 1.3000/70 zone as expected, we should see further losses to 1.2445 and then 1.2250/00". EUR/USD is now seen nav...

GBP/USD trades modestly flat around 1.2985, stuck in a range around 1.2980-1.3000. EUR/USD now looks to 1.1830. Dollar Index was down 0.1% at 93.500, while USD/JPY fell 0.1% to 105.69. Helping the ‘risk-on’ mood was renewed confidence that U.S. lawmakers may be close to a compromise over a new coronavirus relief package after House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin spoke b...

The GBP/USD pair lifted above 1.2900 on headlines that the UK and EU will persist with Brexit negotiations, given the lack of material progress, we still see the 1.2950-1.3000 range as a cap for now. The optimism over US President Donald Trump’s potential discharge from the medical centre boosts the appetite for the risk assets at the expense of the safe-haven greenback. EUR/USD bulls await fresh...

The GBP/USD pair rallied over 100 pips from daily swing lows and jumped to the 1.2940 region during the early European session, albeit quickly retreated few pips thereafter. EUR/USD extends the erratic performance in the last sessions, although it manages well to keep business above 1.17 the figure for the time being. The dollar pushed higher in early European trade Friday, along with the Japanese...

GBP/USD juggles with the recovery moves from 1.2913 between 1.2930 and 1.2940 while heading into the London open. The pair rises for the fourth consecutive day by crossing the 50-day EMA amid bullish MACD. A new test of EUR/GBP 0.9400 (2020 high) seems very possible in the coming weeks, at which point it would finally make sense to buy GBP looking for an eventual deal. EUR/USD has been advancing o...

GBP/USD navigates within the 1.2750-1.3000 range despite UK final GDP revised up to-19.8% QoQ in Q2. EUR/USD now looks to 1.1800 and above. Dollar Index was up 0.1% at 94.017 while USD/JPY was down 0.1% at 105.55. DAX futures contract in Germany traded 1% lower, CAC 40 futures in France dropped 0.9% and the FTSE 100 futures contract in the U.K. fell 0.7%. Chinese data released earlier Wednesday sh...

GBP/USD keeps bounces off 1.2836 to print a two-day winning streak. Cable is now forecasted to navigate within the 1.2750-1.3000 range in the next weeks. EU steps back from threats to drop trade and security talks, shows readiness to prepare a joint legal agreement. UK’s Gove refrains from entertaining the bloc’s demand over IMB, BOE’s Ramsden rules out negative rates. Brexit talks in Brussels wil...

GBP/USD probes the upper end of 1.2830/50 trading range. The Cable benefits from the weekend headlines suggesting brighter odds of success for the key Brexit talks.  EUR/USD plummeted to 1.1615, its lowest level since late July. The pair has posted an interim top at 1.2011 and heads lower, with 1.1500 at sight, as the greenback’s positive momentum will likely extend heading into the next Nonf...

Cable is seen attempting a consolidation move ahead of a potential drop to the. Mid-1.2600s. The pair GBP/USD has remained side-lined near 1.2750 ahead of the London open. EUR/USD pair is currently trading at 1.1675, representing a 1.4% decline on a week-to-date basis. The US dollar index trades modestly flat at 94.37, having partially recovered from the NY lows to 94.20 reached amid mixed US data...

GBP dropped to a low of 1.2676 yesterday before rebounding to close little changed at 1.2726 (-0.06%).  UK Finance Minister Rishi Sunak is set to unveil a new wage support scheme later this Thursday. GBP/USD caught a fresh bid wave on the above announcement, having spiked to 1.2737 session highs before reversing to near 1.2715. EUR/USD is currently trading near 1.1660, representing a 2.3% dec...

GBP/USD is currently trading just below the 1.27 hurdle whilst further GBP weakness is not ruled out but in view of the oversold conditions, according to FX analysts, the next support at 1.2650 is likely out of reach for now. GBP/EUR is trading at 1.0860 this morning, next support is at 1.0760 that we saw beginning of September which is the lowest since March. The conditions are also worsening in...

GBP/USD looks to be back under pressure as the market is seeing dollar strength across the board. The pair is trading near to the 1.2780 daily low and a loss of the 1.2690 support is set to trigger a deeper fall to the 1.2250/00 zone, per Commerzbank. EUR/USD risks a further pullback to the 1.1695 level in the next weeks, suggested FX Strategists at UOB Group. Dollar Index was up 0.1% at 93.727, c...

GBP traded sideways between 1.2914 and 1.2999. The underlying tone has weakened and from here, GBP could drift lower to 1.2875 (minor support is at 1.2900). Rishi Sunak, the Chancellor of the Exchequer, has yet to announce what would replace – if at all – the furlough scheme which expires next month. The specter of mass UK layoffs is worrying about the nation and markets. A gradual tapering of the...

GBP/USD has been rising amid fresh Brexit hopes and despite the Bank of England's dovish shift. On Friday, speculation about a new UK lockdown and data on both sides of the pond are eyed, the pair is trying hard to extend the recovery, attacking the psychological 1.30 mark. EUR/USD to surge towards 1.20 on a break above 1.1880. Dollar Index was down 0.2% at 92.823 while USD/JPY was largely flat at...

GBP/USD staged a solid comeback on the 1.2900 level so far this Thursday, although the bulls now appear to lack follow-through ahead of the Bank of England (BOE) monetary policy decision. EUR/USD erodes the four-month uptrend at 1.1826, scope for 1.1495 – Commerzbank; Danske Bank now see the EUR/USD range as shifting from 1.18-1.20 to being 1.17-1.19 but stick to their call of 1.23 in six-months t...

GBP lacks firm directional bias and seesaws between tepid gains/minor losses. GBP/USD holds steady below 1.2900 mark, BOE Readies for Action. EUR/USD keeps the consolidative fashion unchanged. Dollar Down Ahead of Fed Meeting, down 0.03% to 93.085, giving up some earlier gains. The USD/JPY pair was down 0.15% to 105.28. In other markets, DAX in Germany traded 0.1% higher, the CAC 40 in France rose...

The GBP/USD pair is trading near daily highs just below the 1.29 level, up 0.36% on the day. The  downtrend continues – with the latest upswing looking like a necessary correction before the next dive. Despite the supporting factor, the upside is likely to remain limited amid growing fears of a no-deal Brexit. EUR/USD has been extending its gains, buoyed by optimism about a vaccine. Brexit re...

GBP/USD to bounce from 200-DMA at 1.2735 ahead of further losses – Commerzbank. Goldman Sachs says pound levels now attractive. EUR/USD to see further gains as markets are upbeat after a turbulent week, trading around 1.1850. Bulls eye initial resistance at 1.1875. The U.S. Dollar Index edged down 0.16% to 93.192 this morning and rolled over to the December contract on Sunday. In other markets, DA...

The GBP/USD pair held on to its modest gains around the 1.2800 region and had a rather muted reaction to the UK macro data dump, after falling into the 1.2775-70 area last night. The pair managed to gain some positive traction on the last trading day of the week and recovered a part of the previous day's steep decline of over 250 pips. It is worth recalling that the GBP/USD pair on Thursday witnes...

Sterling continues to weaken this week as market participants move quickly to price in more of a Brexit risk premium. The pound has weakened sharply in recent days resulting in EUR/GBP rising back towards the 0.9100-level and GBP/USD towards the 1.3000-level. Ireland's PM Martin said that 'where there is a will there is a way' when questioned about the Brexit deal. EUR/USD rises 0.24% to trade at...

GBP/USD seesaws in a choppy range between 1.2920/40. AstraZeneca, China data news trigger risk reset. EUR/USD has reversed higher from significant support at 1.1757. Euro bulls may have a hard time holding on to gains. Dollar firms, yen up as tech selloff hits FX. In other markets, DAX futures contract in Germany traded 0.2% higher, CAC 40 futures in France fell 0.2%, while the FTSE 100 futures co...

The pound has continued to underperform amidst more risk-averse trading conditions. It has resulted in EUR/GBP rising back towards the 0.9000-level. Cable could gradually return to the 1.3100 region in the next week. EUR/USD is showing some signs of recovery following five consecutive daily pullbacks and looks to regain upside momentum above 1.1800. On the flip side, interim support emerges at 1.1...

GBP/USD faces a mixed outlook, a break of the low at 1.3176 appears unlikely. Resistance is at 1.3290 but the stronger level is at 1.3330. EUR/USD extends its overnight range play below mid-1.1800 into the European session. Analysts are focused on the four-month uptrend at 1.1732 as a loss of this level will introduce scope for a slide towards the 55-day ma at 1.1620. Dollar Index was up 0.3% at 9...