Share: Pound Sterling finds an intermediate support, but the downside seems favored amid global uncertainty. BoE Dhingra warned that further tightening could hurt the UK economy. Investors shift focus to the July Employment data, which will be released on Tuesday. The Pound Sterling (GBP) discovered intermediate support as investors started digesting the potential
British Pound, GBP/USD, GBP/JPY – Technical Update: Recommended by Daniel Dubrovsky How to Trade GBP/USD The British Pound may extend lower in the coming trading sessions. That is because GBP/USD confirmed a breakout under a bearish Head & Shoulders chart formation over the past few days. Now, the next obstacle to the downside is the
Share: The Pound Sterling faces significant pressure as the BoE appears to be reluctant to raise interest rates further. BoE Swati Dhingra said that the current interest rate policy is sufficiently restrictive. The UK services sector shrinks after six months of expansion as consumer spending weakens. The Pound Sterling (GBP) cracked significantly amid
Share: GBP/USD remains flat around 1.2500, near a three-month low hit on Wednesday. The pair holds below the 50- and 100-hour EMAs on a one-hour chart. The first support level is located at 1.2465; immediate resistance level is seen at 1.2515. The GBP/USD pair consolidates its recent losses around 1.2500 during the Asian
For all market-moving economic data and events, see the DailyFX Calendar The US dollar continues its climb higher and is within touching distance of making a fresh multi-month high. US Treasury yields remain elevated, supporting the greenback, as potential rate cuts are pushed back – and priced in – for May next year. The US
Share: GBP/USD licks its wounds after refreshing three-month low. 10-week-old descending support line, sluggish MACD signals and the below-50 RSI favor corrective bounce. Convergence of 100-EMA, 38.2% Fibonacci ratio guards immediate recovery of Cable pair. Pound Sterling traders seek directions from US ISM Services PMI amid light calendar at home. GBP/USD portrays a
US: The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting. Fed Chair Powell reaffirmed their data dependency and kept all the options on the table. Inflation measures since then showed further disinflation. The labour market displayed signs of softening although it remains fairly tight. Overall, the economic data
Share: Pound Sterling attempts recovery from below 1.2600 but still remains fragile as factory activities weaken further. UK factory activities dropped to 43.0, the lowest reading in the past 39 months. The BoE is expected to raise interest rates consecutive for the 15th time this month. The Pound Sterling (GBP) strives for a
British Pound, GBP/USD, EUR/GBP – Technical Update: British Pound eyeing key levels of support ahead GBP/USD bearish Head & Shoulders still in play EUR/GBP recent dip places focus on key range Recommended by Daniel Dubrovsky How to Trade GBP/USD The British Pound still remains vulnerable to the US Dollar as the new week begins. On
Share: “We are on track to halve inflation this year and by sticking to our plan we will ease the pressure on families and businesses alike,” said UK Finance Minister Jeremy Hunt during the weekend per Reuters. The policymaker also told the BBC that he thinks of witnessing a blip in inflation in
