GBP/USD breached key resistance at 1.4000 & continues to rally hitting near 3 month high.
Friday’s dismal US NFP data has weakened the Dollar seeing the Pound surge over 200 pips into this mornings trading session.
The SNP has failed to win a majority in Scotland, now with less political uncertainty the bulls will look to extend their gains.
PM Johnson is...
GBP/USD under pressure with the current correction limited to support at 1.3890.
A breach of support would see the bulls lose momentum & change the positive outlook.
Rising US yields are increasing the demand on the safe haven Dollar as investors switch to risk off.
UK political uncertainty also a worry for potential buyers & may cap the further gains.
GBP/USD has rallied 200 pips reaching a 7 week high.
We have been awaiting this breakout since the bullish wedge formation formed earlier in the month.
This mornings UK jobs figures beat forecast providing further support for the pound.
Price is currently trading just below critical resistance at 1.4000 well above 50.100 & 200 MA as bulls remain in...
GBP/USD eases from highs as investors take profit, the pullback should be limited with no fundamental data to suggest otherwise. Price is now in a period of consolidation awaiting it’s next move.
In yesterdays trading session price met resistance at 1.3862 which coincided with the 1 month ascending trendline seeing a 50 pip pullback towards support at...
GBP/USD broke resistance exiting the two week range in yesterdays trading session now trading at 34 month high as bulls eye further gains.
The risk on sentiment has improved as the US ramp up their vaccination campaign seeing US stocks soar.
Global risk on sentiment is weakening the safe haven Dollar & the main contributing factor to the current rally.
Numerous news outlets seems to be creating a smear campaign against the retail trader/investor!
Big Wall St players have been controlling the markets for years with retail traders at the mercy of ‘BIG MONEY’ volatility.
Now for the first time the retail traders have come together to create the volume to move the markets, something a retail trader could only...
GBP/USD finally broke strong resistance at 1.3700, now trading at 32 month high.
Price is currently trading on new resistance at 1.3737 as bulls look to capture 1.3800.
Optimism around the US stimulus package has seen broad Dollar weakness.
The positive sentiment remains, even with the high Covid-19 death rate in the UK, as the vaccine rollout continues.
GBP/USD continued to be pressured in yesterdays trading session as the continued outbreak of Covid-19 has dampened sentiment helping the safe-haven Dollar.
This morning price bounced 70 pips but met resistance at 1.3185, the lack of follow through may see bears push price back towards support at 1.3091.
Brexit talks continue as we await a breakthrough, any...
EUR/USD under pressure as Covid-19 Cases continue to rise in both the US & Europe with further lockdowns to be announced. Hospitals struggling to cope with the increase of numbers & the death toll continues to rise.
Price has fallen below 1.8000 & momentum on the 4hr has turned negative as price has fallen out of the uptrend.
Price is now trading just below 50 &...
GBP/USD has fallen off this morning highs as many investors take profit, bulls remain in control above 1.3080 as the Dollar remains under pressure.
Price is currently very volatile with short spikes & troughs offering many scalping opportunities.
A strong breach of either support & resistance level would see more clarity on the medium term direction of the...
GBP/USD has fallen sharply off highs amid uncertainty around the US elections as it comes down to the last few states.
Votes are in, currently being counted as we await the final numbers which could take days.
In yesterday’s trading session price rose to 1.3140 an area of supply & immediately was rejected falling over 200 pips this morning.
Price has since...
EUR/USD broke it’s 2 week loosing streak & rallied this morning with the change in market sentiment ahead of the US elections.
Stocks are rallying & the Dollar is pressured as Biden looks to be the front runner to be elected as the new President.
Price broke the 1 week descending trendline & now trading on resistance at 1.1705.
Bulls look to target...
GBP/USD has rallied this morning as market sentiment changes ahead of the elections.
Put simply, a Biden win will create a risk on mood & hurt the safe haven Dollar whereas a Trump win will create further uncertainty & help the Dollar.
Price broke the two week descending trendline & now trading above 50 & 200 SMA changing the outlook.
Price currently trying...
GBP/USD continues suffering from downside momentum losing 500 pips in last weeks trading session amid fears of a no deal Brexit.
The UK government acknowledged it could break international law by ignoring some parts of its leave treaty.
MP’s will debate the controversial deal that violates the Brexit agreement & will try find a resolution.
There’s no doubt a...
GBP/USD sell-off continues amid no deal Brexit fears & rising cases of Covid-19 in the UK as further restrictions come into place.
AstraZeneca pauses Covid-19 vaccine trials after a participant’s ‘unexplained illness’, Further developments about the connection to the Drug are awaited.
Broad Dollar strength continues adding further pressure on the Pound now...
GBP/USD like most majors has took advantage of week Dollar this morning gaining over 100 pips, reaching 2020 high.
Price is currently levelling off & I don’t expect to much movement until this afternoons data releases.
Strong resistance at 1.3300 could cap gains with price bordering on over bought conditions.
Chancellor of Germany Angela Merkel has scrapped...
GBP/USD continues to range with neither the Bulls or Bears able to take the lead.
Bank of England chief Economist Andy Haldane predicts rapid recovery from the coronavirus crisis as consumer spending has helped UK claw back as much as half of losses.
Brexit talks will restart on Tuesday as UK vows not to agree to alignment on EU rules as negotiating team gears...
GBP/USD continues to trade in a narrow range between 1.3008 & 1.3123.
UK GDP figures beat forecast but has had little effect on the market.
UK Finance Minister Rishi Sunak admits ‘the furlough scheme is unsustainable. Also stating the coronavirus crisis will see 'many more lose jobs & hard times ahead’. These comments have dampened sentiment the Pound is on the...