Dear Traders, I'd like to bring your attention to the current market conditions of GBPUSD. It is currently experiencing a downtrend but is undergoing a correction phase. The price is approaching a significant resistance zone at 1.26100, which coincides with the major trend. This area is worth monitoring closely. In addition, it's crucial to take into account the...
GBPUSD 1:4 Beast Trade 1) Uptrend 2) Breaking Their Resistance 3) Good Fundamentals of GBP because of Positive GDP growth Rate 4) USD can be weak this weak because of CPI coming on Tuesday 5) 200EMI is below the Price Best and Simple trade
FOLLOWING DOLLAR INDEX ( DXY ) MONTHLY ANAYLSIS.. GBPUSD INMINENT SELL OFF PRICE COME BACK FOR FIRST TIME (HIGH PROBABILITY) TO A SUPPLY ZONE GENERATED PREVIOUSLY AFTER TOUCHING ABOVE SUPPLY ZONE. I SUGGEST TO OPEN SELL POSITIONS: - SL 1.26850 - 1.26900 (Above Supply zone) - TP 1: 1.18 (closing internal bearish cycle) - TP 2: 1.07 (closing external...
2023-2024 Exchange Rate Forecasts From MUFG Pound Sterling: BoE Forecasting Errors Increase GBP Risk Profile MUFG has significant reservations surrounding the Pound outlook. As far as inflation is concerned, it sees significant risks over the medium-term implications. It notes; “The sense that the UK has a bigger inflation problem is creating downside risks...
GBP - 1.24 Next?! CME:6B1! FX:GBPUSD GBPUSD - 1.24 Next! We've had a great run, I'd still be buying longer term dips on GBP - However, for now I feel a pull back is due and this is great opportunity for us traders to take opportunities of the bull and bear side! Overall pattern, wedge - We've broken to down side the first area of interest to me is 1.24/...
The US dollar (USD) has staged a comeback against the Pound Sterling (GBP) and Euro (EUR) over the past few weeks, but foreign exchange analysts at MUFG still consider that medium-term depreciation is the most likely outcome. The bank considers that the US Dollar exchange rates are overvalued, especially against the Japanese Yen (JPY) and net capital flows are...
In a fresh look at the outlook for the Pound to Dollar (GBP/USD) exchange rate, Jane Foley, Senior FX Strategist at Rabobank, draws attention to a potential slide for the sterling. "We see scope for cable to drop to 1.22 on a 3-month view," says Foley, Senior FX Strategist at Rabobank. This outlook indicates a drop in the value of the pound against the dollar by...
As a young trader (21 years old), I see my trading style as more of an art than a science. I don't understand patterns, and I don't use technical analysis. I am a macro trader. I take information from various sources (WSJ, Twitter, Investing.com, Trading Economics, ect.), and my instincts kick in. I understand where assets should be moving on data releases. The...
GPB is plagued by down channels. What we will see once these complete however as we did with the first down channel is a rise back into this sideways zone which I have identified with two horizontal lines. Monthly timeframe Bars pattern shows the movement back into the sideways zone.
The previous early bottom was in the 80's Right now we are in 2023 and price is nearly at the same level. I would like to think this is a bullish observation, as price rose following the first bottom. Very long term chart however. Monthly.
Foreign exchange forecasters at ING expect that the US Dollar can maintain a firm tone in the short term. It does, however, expect notable deterioration over the second half of the year which will trigger rate cuts. The bank expects that yield spreads will move against the US Dollar with the Bank of England resisting any rate cuts. The bank expects that the...
Foreign exchange forecasters at ING expect that the US Dollar can maintain a firm tone in the short term. It does, however, expect notable deterioration over the second half of the year which will trigger rate cuts. The bank expects that yield spreads will move against the US Dollar with the Bank of England resisting any rate cuts. The bank expects that the...
The Pound to Dollar (GBP/USD) exchange rate hit 12-month highs at 1.2675 on May 10th before a retreat to 1.2400 amid a dollar rebound. The Pound to Euro (GBP/EUR) exchange rate also hit 2023 highs close to 1.1550 before settling just above 1.1500. Pound Sterling: UK Outlook Half Full or Half Empty The UK fundamentals have improved over the past few months...
The Pound US Dollar (GBP/USD) exchange rate ended the weekly session on a high, quoted at 1.24453 as currency markets closed. EUR/USD had also risen on Friday, bolstered by weakness in the US Dollar, sparked by Fed Chair Powell's US banking sector comments, profit-taking and a correction. The Pound Sterling had been relatively resilient towards the end of the...
Foreign exchange analysts at BNP Paribas suggest the Euro (EUR) is tipped to rise against the Pound Sterling (GBP) in the near-term outlook. They believe that although UK data has been surprisingly strong recently, the underlying data strength remains subdued. "UK data have been surprisingly strong recently, but surprises tend to mean revert and underlying data...
Pound Sterling Forecast: Extended Range Trading for EUR/GBP Danske expects that the Bank of England will increase interest rates for a final time in June. It notes that at least one further rate hike is priced in by markets which will limit scope for Pound buying. It does, however, consider that the Pound is slightly undervalued which will underpin the...
Danske expects that the Bank of England will increase interest rates for a final time in June. It notes that at least one further rate hike is priced in by markets which will limit scope for Pound buying. It does, however, consider that the Pound is slightly undervalued which will underpin the currency.
Foreign exchange analysts at ING have updated their latest currency forecasts and predictions for the Pound Sterling Sterling will be influenced by global economic and financial conditions. It notes; “Sterling’s correlation with risk assets has fallen a lot this year – a factor probably helping sterling at the moment.” The Pound will still tend to be vulnerable...