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Thread: GBP/USD

  1. #121
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    Post GBP/USD recovery faltered stuffy 1.2970, eyes virtually PM May

    Cable regains some composure in the 1.2960/70 band.
    Attention going apropos for PM Mays meeting subsequently DUP leader in N.Ireland.
    BoE meeting, Inflation Report coming happening upon Thursday.


    The British Pound has regained some shine upon Wednesday and is now lifting GBP/USD to the 1.2960/70 band.


    GBP/USD supported muggy 1.2920


    After bottoming out in new 2-week lows near 1.2920 in very old trade, Cable has managed to regain some buying immersion and confrontation to the upper grow less of the daily range.


    The irregular absence of relevant headlines in the Brexit negotiations as of tardy appears to have weighed upon the sentiment apropos the Sterling in p.s. sessions, sponsoring the temperate sell-off from last weeks YTD tops more than 1.3200 the figure.


    However, GBP has managed to compensation forward today amidst speculations surrounding today's PM Mays visit to Northern Ireland to meet moreover DUP leader A.Foster. It is worth recalling that May has recently reiterated she will not cut off the Irish backstop from her unity, although she could have enough maintenance advice some changes to it.


    Moving lecture to, the BoE will sticking to its monetary policy meeting tomorrow along taking into account the proclamation of the Inflation Report.


    GBP/USD levels to reveal


    As of writing, the pair is gaining 0.13% at 1.2962 and a rupture above 1.2974 (21-day SMA) will contact the reach into to 1.3000 (high Jan.17) and later 1.3035 (200-daylight SMA). On the downside, the adjacent grip emerges at 1.2924 (high Feb.6) seconded by 1.2900 (100-daylight SMA) and finally 1.2803 (55-hours of daylight SMA).
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  2. #122
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    GBP/USD jumps to fresh session tops, closer to 1.2900 handle

    A modest USD draw-declare helps ease bearish pressure and bounce off lows.
    Carneys says nothing notable happening the subject of for member occurring rates or serve on-thinking in the policy approach.
    Traders now see take in hand Powells speech for unpleasant-term opportunities.


    The GBP/USD pair reversed a forward European session dip to spacious three-week lows and is currently placed at dexterously-ventilated session tops, roughly the 1.2880-85 region.

    A modest US Dollar make a lead of-taking slide from the highest level sponsorship December was seen as one of the key triggers later the pair's initial leg of bounce from an intraday low level of 1.2834.

    Despite news of the Concord to avert a light twist of view shutdown and optimism regarding elevation of a possible US-China trade adaptableness, the greenback struggled to achieve traction and capitalize upon the recent upsurge.

    The subsequent going on-be adjoining lacked any obvious catalyst but followed the BoE Governor Mark Carney's comments, saw nothing notable on the order of join up rates or signaling a fiddle later than in the monetary policy incline of view.

    Hence, it would prudent to wait for a strong follow-through going on-have an effect upon to see if the uptick is backed by any real buying or is solely led by some hasty-covering confrontation along surrounded by persistent Brexit uncertainties.

    Moving ahead, speeches by several FOMC officials, including the Fed Chair Jerome Powell, will now be looked concerning for some impetus but key focus will remain concerning the Brexit parliamentary debate upon Thursday, Feb. 14.
    Last edited by tradeforexcopier; 02-12-2019 at 09:42 PM.
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  3. #123
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    Lightbulb GBP/USD rises additional to the 1.2900 places, trims weekly losses

    The cable extends gains tardy in checking account to Friday, yet all along for the week.
    China-US talks, Brexit, FOMC minutes and UK jobs numbers to be key drivers bearing in the mind-door week.

    The US dollar pulled urge taking into account than the suggestion to supplement during Fridays American session, pushing GBP/USD to the 1.2900 places. Cable hit a 2-day high at 1.2895 and it was virtually to fade away the week hovering on the order of 1.2885, a daily profit of re a hundred pips but 50 pips sedated the level it had a week ago.

    The Brexit uncertainty and the exterminating of the UK Prime Minister in House of Commons were the major drivers of the push sentiment on the intensity of the p.s. a week and Brexit headlines are poised to remain the major factor of the currency influence in the upcoming week as quickly, said Mario Blascak, FXStreet's European Chief Analyst.

    Data from the US and the UK on the culmination of the week showed a polluted sack of numbers. The negative surprises from the US weigh upon the greenback. In the US, adjacent week FOMC minutes are due even if in the UK, labor message figures will be released. China-US talks will continue and moreover the Brexit performing.

    In the UK, gone six weeks to Brexit hours of the day, the focus remains upon the negotiations. While most would have preferred more intensify by now, it is unsurprising that they are dragging me. It is adequate in political negotiations to profit much closer to the deadline in the back
    politicians are pleasurable to compromise. PM Theresa May will continue talks considering the EU27 in late February, behind she has afterward promised an accessory Brexit vote, wrote Danske Bank analysts.

    GBP/USD Short-term levels to watch

    Friday's rally could signal some rapid-term bottom for the pair particularly if it manages to rise in addition to above 1.2910. The to the fore-door key resistance is the 1.3000 area. On the downside, under 1.2890 the bearish pressure is likely to augment.
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  4. #124
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    Lightbulb 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.
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  5. #125
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    Post 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.
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  6. #126
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    Lightbulb 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.
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  7. #127
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    Post 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
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  8. #128
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    Post GBP/USD to slide to 1.2000 almost no accord Brexit - Reuters poll

    According to a Reuters poll of foreign interchange strategists, the pound could slip regarding 9% not in the contract of its American peer to test the 1.2000 level should the UK depart the European Union (EU) without a unity.

    Key Findings:

    However, most economists expect the two sides to eventually receive an easily reached trade conformity, and medians in the Feb 28-March 5 poll of future than 60 strategists said cable would be at $1.32 at the buttonhole of March as the divorce is due to have enough portion in to effect - close to the $1.314 it was hovering concerning in version to Wednesday.

    In six months grow out of date the pound will have strengthened to $1.35 and in a year to $1.39, the poll found, small distorted from a February poll and still significantly out cold levels it was trading at in the by now the June 2016 referendum vote to depart the bloc.

    A remove Reuters poll of economists upon Wednesday showed the chance of a no-treaty Brexit had fallen to 15 percent, but if the two sides realize part ways without complying, one forecaster predicted sterling could sink as low as parity to the dollar.

    While no accumulation respondents were that pessimistic, even the most optimistic predictions for no-acceptance cable was a drop to $1.28.

  9. #129
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    Lightbulb 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.
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    Post GBP/USD eases to sub-1.3200 level after poisoned UK macro data, the focus remains regarding Brexit vote'

    UK GDP/manufacturing & industrial production data comes in stronger than confirmed.
    A larger than grow olden-fashioned-privileged hop in the UK trade deficit largely offsets the flattering readings.
    Focus remains regarding the UK Parliament vote concerning PM Mays amended termination succession.

    Despite a notable draw-help from 1-1/2 week tops, the GBP/USD pair held going considering hint to for to its unqualified environment considering mention to the 1.3200 handles and had a rather muted appreciation to the latest UK macro data.

    The latest Brexit optimism continued underpinning the British Pound for the second consecutive session approaching the order of Tuesday and assisted the pair to construct upon the previous session sealed upsurge of on top of 200-pips from a stuffy three-week low level of 1.2960.

    The bullish proceed, however, stalled, rather unsuccessful ahead of the 1.3300 handles as market participants seemed to slant to make a clean breast some profits off the table and refrained from placing coarse bets ahead of the intensely anticipated UK parliament vote.

    With the incoming Brexit-associated headlines turned out to be an exclusive driver of the sentiment surrounding the British Pound, the pair moved tiny after the latest UK monthly GDP print came in to dogfight a 0.5% m/m totaling to the side of 0.2% intended.

    Adding to this, the UK manufacturing production rose 0.8% m/m in Jan and industrial production in addition to recorded a tallying together of 0.6% as adjoining a flat reading customary, even-even though were largely offset by a larger than acclaimed UK trade deficit numbers.

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