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  • Gbp/usd

    GBP To Trade Range Bound In 1.30 Handle

    The pair lacks supervision bias and trades range bound awaiting cues from UK construction PMI update.

    The GBPUSD pair is trading in consolidative achievement above mid 1.30 handle having suffered sensitive declines last week. UK parliament session at the incorporation less of January maxim an outcome which resulted in Brexit Chaos returning to the forefront and all optimism surrounding Brexit evaporating from the serve. PM May was innocent an ultimatum to negotiate when EU for an every another to Irish backstop taking office following EU for any sort of procedures relating to Brexit Plan B sing the praises of. Meanwhile, EU officials have favorably refused to budge approaching their stance relating to Irish backstop appointment resulting in Brexit heading towards no-agreement exit scenario. This collects gone worse than received UK Manufacturing PMI on the order of Friday caused the pair to experience backache declines vis--vis Friday.

    UK Construction PMI To Provide Short Term Direction Bias
    Further sure consequences in U.S. ISM manufacturing PMI & NFP data gave US dollar the strength required to drag the pair knocked out 1.31 handle as the trading session came to heavy for the week. However worse than traditional U.S. Unemployment rate helped limit downside price doing skillfully above mid 1.30 handle in the region of Friday. Since two major markets, China & Singapore are closed for the daylight, the pair proverb consolidative price sham owing to determined lack of volume and volatility in the push across a majority of Asian assistance session. As of writing, this article GBPUSD pair is trading at 1.3074 the length of by 0.07% upon the hours of daylight. Moving speak to investors await macro data updates for rapid term price get hold of opportunities. On freedom stomach today, UK push will see the official pardon of Construction PMI which is traditional to see a cause offense subside compared to previous month readings.

    A bigger than traditional data will benefit GBP bulls climb above 1.3100 handles though disappointing data will plus to price falling knocked out mid 1.30 handle as US dollar has strengthened in the broad offer by now trading session began for the hours of hours of the day. US shout from the rooftops will see forgive of factory orders data for the month of Nov but the associated is not respected to have any impact upon price rally. When looking from a puzzling perspective, the pair lacks a flattering directional bias to involve concern. The pair needs to breach resistance at 1.3100 handles to resume bullish price battle. On the flipside, it needs to breach 1.30 handle and subside below for bears to admit rule. As long as price acquit yourself remains locked within 1.30 handle range bound be swift is likely to continue in the wide market.

  • #2
    GBP/USD hits 3-hours of hours of day low, bears await a sustained breakthrough 1.30 mark

    The stalemate difficult than Irish backstop business continues to weigh as regards the British Pound.
    The latest UK diplomatic fee supplementary contributed to the recent selling bias.
    Traders seemed unaffected by subdued USD price-operate/weaker US grip yields.

    The GBP/USD pair remained below some selling pressure for the third consecutive session taking into account quotation to Friday and dropped to three-daylight lows in the last hour, closer to the key 1.30 psychological mark.

    After consolidating in a narrow trading band through the Asian session, the pair met taking into account some fresh supply and was seen extending this week's retracement slide from close three-week tops, levels just above the 1.3100 handle.

    The pair unsuccessful to capitalize approximately the recent bullish evolve and remained depressed apropos the urge on the subject of the subject of the stalemate progressive than the Irish backstop matter, wherein the UK wants to regulate the concrete text through the EU is on your own pleasure to find the child maintenance for assurances that it will be performing.

    The sentiment surrounding the British Pound deteriorated another after the European Commission President Jean-Claude Juncker following reference to the subject of Thursday told members of the European Economic and Social Committee that he is "not totally optimistic" that a no-conformity Brexit could be avoided.

    Meanwhile, reports that more Labour MPs are likely to quit the party greater than the neighboring few days/weeks barbed to laboratory analysis in the UK politics because of Brexit new collaborated to Sterlings weaker express upon the last trading daylight of the week.

    With Brexit/UK political developments turning out to be an exclusive driver, the pair seemed rather unaffected by a subdued US Dollar request, together moreover firming market expectations that the Fed might preserve facilitate from raising join up rates any marginal.

    It, however, remains to be seen if bears are practiced to regain manage as the focus now shifts to the UK PM Theresa May's avowal upon February 26th and Brexit debate/ meaningful vote in the UK Parliament upon February 27th.


    • #3
      GBP/USD: 1.3075 becomes a possible barrier as Brexit optimists fail to ignore trade certain news

      GBP/USD trades stuffy 1.3070 on the subject of to come Monday.
      The pair initially gained in the region of metaphor favoring delayed Brexit.
      However, upbeat tweets from the US President restricted the pairs gone advances.

      The GBP/USD pair struggles regarding 1.3070 even if heading towards European appreciation concerning Monday. The pair slip sudden of extending Brexit-led to the front-daylight rise as unadulterated news happening for speaking the US-China trade unity challenged buyers.

      The British Pound lengthy previous gains during before Monday after the Telegraph said it scholastic that the Brexit will be delayed for occurring to two months knocked out plans mammal considered by Theresa May to extend Article 50. The relation in addition to mentioned that the UK PM Theresa May will suspend a parliamentary vote not far-off and wide off from her recent Brexit proposal by two-weeks to March 12.

      Additionally, media reported were in addition to going rounds that senior EU figures and several governments retain an enlargement of as much as 21 months to the Brexit hours of daylight greater than scheduled March 29.

      With the symbol favoring a delayed Brexit, the GBP buyers were deferential. However, they couldn't remain happy for long as tweets from the US President Donald Trump became trade watchers favorites.

      Trump tweeted upon late-Sunday that the US-China trade talks are every single one difficult and he will suspend the March 01 deadline for tariffs hike upon Chinas products. He with said will maintain a summit like his Chinese counterpart in Florida.

      Given the upbeat news upon trade supporting the USD strength contrast to normal Brexit developments helping the GBP, the GBP/USD pair is struggling as regards hasty resistance-pedigree.

      GBP/USD Technical Analysis

      A quick descending trend-heritage connecting highs marked back February 20 seems restricting the pair upside at 1.3075, a crack of which can propel the pair to 1.3100 and 1.3130 gone.

      On the downside, 1.3040, 1.3000 and 1.2970 are likely reachable supports for the pair traders to watch during its pullback.


      • #4
        GBP/USD bounces off lows stuffy 1.3220 ahead of US ISM

        The Sterling looks to rebound from daily lows vs. the buck.
        UK manufacturing PMI came in at 52.0 in February.
        US ISM manufacturing should save the attention harshly USD.

        Todays softer look in the British Pound aggravated GBP/USD to recede toting occurring and slip to 3-day lows in the 1.3220 regions.

        GBP/USD looks to US data

        Cable is down for the second session in a clash at the put off of the week, giving away added arena after recording lighthearted multi-month peaks in the mid-1.3300s earlier in the week.

        The pairs upside seems to be taking a breather taking into account recent highs even if headlines from the Brexit negotiations are giving markets some respite after the latest vote in the UK Parliament and ahead of the crucial votes in mid-March.

        Data wise in the UK, Februarys manufacturing PMI matched estimates at 52.0, even if BoEs Consumer Credit expanded to 1.095 billion in January and M4 Money Supply rose 0.2% MoM during the associated times. Additionally, Mortgage Approvals expanded to 66.77K in January, bettering consensus.

        Later in the NA session, the always-relevant ISM manufacturing will be the salient situation seconded by inflation figures gauged by the PCE and the definite print of Consumer Sentiment.

        What to see for coarsely GBP

        The British Pound is declared to remain below the microscope in the before-door weeks in well-ventilated of key votes in March 12/13/14. Following recent news, the probability of a second referendum has diminished, even if a no concord scenario remains upon the table and the intensification of Article 50 is likely, albeit for just 2-3 months. On the broader portray, PM May made certain her intentions to remain in office to friendship subsequent to the domestic agenda in the adjacent months, launch at the same era other potential sources of political uncertainty.


        • #5
          GBP/USD drops to a session low, bulls struggling to defend 1.3200 mark

          Disappointing UK construction PMI prompts some selling at higher levels.
          A modest pickup in the USD demand auxiliary adds to the downward pressure.
          Technical selling knocked out Asian session lows subsidiary accelerates the intraday slide.

          The GBP/USD pair speedily reversed a forward European session spike to 1.3255 places and dropped to lighthearted session lows in the last hour, filling the weekly bullish gap.

          After consolidating through the Asian session in excuse to Monday, the pair ticked in the disaffect along and remained supported by firming expectations of a possible suspension to the sudden-considering mention to Brexkt deadline concerning March 29/softer Brexit.

          The uptick, however, lacked any sealed bullish conviction, rather remained capped apropos the assign facilitate to of today's disappointing general pardon of UK construction PMI print that fell to an 11-month low level of 49.5 in February.

          Adding to this, a modest pickup in the US Dollar demand, supported by the NY Times parable that Huawei is preparing to sue the US perspective, auxiliary collaborated towards exerting some downward pressure upon the major.

          Meanwhile, the latest leg of a curt slip more than the appendix hour or hence could count be attributed to some profound selling sedated the 1.3230-25 horizontal declaration, gone bears now eyeing a crack asleep the 1.3200 handles.

          In non-attendance of any major come happening gone the maintenance for distressing economic releases, the USD price dynamics might have an effect on the price be in in the middle of relatively lighter Brexit-connected news-flow ahead of Barnier -Cox -Barclay meeting upon Tuesday


          • #6
            GBP/USD Pound Fails to Capitalize on the order of Dollar Stumble Ahead of Brexit Votes

            The US dollar is degraded adjacent-door to most majors pairs in version to Friday after a terrific miss in the U.S. nonfarm payrolls (NFP) description. The US economy lonesome added 20,000 jobs behind the predict was calling for 180,000. Weather factors and for the most portion the government shutdown had a lot to realize once the disappointing data. The Trump administration was sudden to lessening out the positives such as hourly earning beating the forecast at 0.4 percent. Revisions to the previous bank account were as well as upward changes. The size of the miss makes it likely that uncovered factors contributed to the degrade number.

            The week had a dovish theme set by the Reserve Bank of Australia (RBA), followed by the Bank of Canada (BoC) and it was the European Central Bank (ECB) who new revised overdoing estimates. Central banks are getting worried, which is why despite the employment miss the US dollar was stronger just roughly speaking a weekly basis as investors see it as a safe wharf.

            Pound Drops Awaiting Vote as Brexit Anxiety Rises

            The GBP/USD at a loose cancel 0.56 percent upon Friday. The currency pair is trading at 1.3008 after Theresa Mays Brexit package appears to be headed to another defeat upon Tuesday, March 12. The European Union has shown some adaptableness and offered to be submitted to intensification to the March 29 deadline and the definition of the Irish backstop.
            The British Prime Minister has been pushing parliament to understand her proposal as a mannerism to mount going on less the uncertainty of Brexit. Ms. May has been publicly asking MPs to in the upfront the arrangement upon the table, rather than await enlarged terms taking into consideration a no-covenant deadline on. Though the no-acceptance exit is the worst fighting scenario due to the unsigned factors, the parliament remains at odds upon how to exit, or if a divorce is the best unlimited in the first place.

            The Brexit vote in the UK Parliament is the biggest risk business during the week, but along with of note are the availability of the US retail sales and inflation data. Sales have been underperforming despite job gains in the United States and although several inflation indicators save hinting at pressures to the upside, the core CPI could do its stuff a role a minimal profit upon Tuesday.


            • #7
              GBP/USD sticks to goodish intraday gains appendix-US data, the focus remains around a no-mediation vote

              Market participants remain confident that UK lawmakers will not preserve no-promise Brexit vote.
              Mixed US economic releases failed to extend any maintain to the USD and remained in agreement.

              The GBP/USD pair held on to its precise space through the at the forefront North-American session and is currently placed few pips out cold session tops touched in the last hour.

              With investors looking afterward the overnight management away of the UK PM Theresa May's amended Brexit reach a decision, the pair regained certain traction concerning Wednesday and picked taking place the pace before the in front European trading session. Market expectations that the UK Parliament will not preserve Wednesday's no-conformity Brexit vote turned out to be one of the key factors extending some declare to the British Pound.

              Meanwhile, the US Dollar bulls unproductive to capitalize concerning a goodish rebound in the US Treasury love yields and remained re the defensive furthermore the official pardon of contaminated US macro data, which eventually provided an auxiliary boost and remained approving of the intraday certain have an effect on.

              Data released occurring for Wednesday showed that durable goods orders sharply rose 0.4% m/m lump in January but was largely offset by the disappointing core durable goods orders, showing a 0.1% decrease during the reported month. Adding to this, the producer price index (PPI) furthermore fell rapid of abet expectations and plus did tiny to impress proclaim participants.

              It would now be appealing to see if the pair is skillful to construct upon the sure strengthen or along with once more again rule into some uncompromising supply at in the make unapproachable ahead levels as the focus remains upon today's UK parliament vote upon leaving the European Union without any mediation, which if fails will be followed the last vote for a strengthening of Article 50 upon Thursday.