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Thread: GBP/USD

  1. #131
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    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.
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  2. #132
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    GBP/USD Price Forecast Range Bound Action Continues As Investors Await Third Vote

    Concerns of a Brexit magnification, its length inspire uncertainty capping GBP gains even if lackluster USD ahead of FOMC update underpins GBP bulls resulting in rangebound price play a role. The GBPUSD pair has been trading furthermore a certain bias for the majority of last week as UK parliaments vote gone hint to Brexit linked decisions saw an appreciative outcome. While the pair hit multi-month highs during last weeks trading session, the pair unsuccessful to sticking together hold and declined slightly as uncertainties surrounding Brexit capped additional upside have an effect on and weighed plus to GBP bulls. However, feeble USD owing to declining US Treasury yields and disappointing US macro data helped prevent throb declines resulting in rangebound violence above 1.32 handle across the latter half of the week. Investors now await PM Mays third attempt/vote in UK Parliament to profit her acceptance overseer by UK lawmakers ahead of EU council meeting by now the members will vote a proposed Britains demand for the further gloss of Brexit deadline. The pair opened for the week once an unconditional bias as the US dollar continues to struggle bearish pressure ahead of upcoming FOMC glamor rate decision update.

    Third Vote & EU Council Meet In Focus
    Investors and traders expect that FOMC will stick to its dovish bias though it keeps impatient rates unchanged owing to recent dovish US macro data. Some traders argue that tackle sponsorship may embrace vis--vis even more dovish note and FOMC members may comment upon the possibility of rate cuts in the near well ahead if US macro data continues to retain dovish appearance. This has helped GBP bulls withdraw a sure bias in the pairs rangebound take disagreement despite uncertainties surrounding Brexit outcome continuing to limit gains. As of writing this article, GBPUSD pair is trading at 1.3260 plus to by 0.27% upon the day. Investors now await UK parliament meeting scheduled upon March 20, 2019, for PM Mays third and conclusive strive for at getting her pact ascribed in the previously EU council decides to vote upon article 50 deadline add details to on request during their meeting upon March 21, 2019.

  3. #133
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    GBP/USD refreshes session low, in the region of mid-1.3100s more or less news of shorter Brexit further gloss date

    EU-27 leaders said to insist May 22 as the Brexit strengthening date rather than June 30.
    FOMC-led USD bearish pressure seems to have abated and adds to the intraday slide.
    Traders now eye UK retail sales data for some impetus ahead of BoE policy update.

    The GBP/USD pair unsuccessful to capitalize on the order of the to the fore attempted recovery and dropped to fresh session lows, on the order of mid-1.3100s in the last hour.

    Having posted a session tall level of 1.3227, the pair met gone some roomy supply in admission to the news that the EU-27 leaders are looking at May 22 as the Brexit enlargement date, greater than a month earlier than June 30 requested by the UK PM Theresa May.

    The reasoning here is that EU-27 leaders sensitive to avoid an embassy feat when the European Parliament elections, due concerning May 23, and gives May less era to draw off her pact through the UK parliament, which was eventually seen exerting some roomy downward pressure on the subject of speaking the British Pound.

    Meanwhile, the recent US Dollar bearish pressure, new infuriated by the Fed's more dovish position than sustain on conventional, now seems to have abated, at least for the period swine, and subsidiary collaborated to the pair's capable intraday slide of regarding 75-80 pips.

    The downside, however, remained cushioned as investors yet seemed reluctant to place any terse bets ahead of the latest BoE monetary policy update and any lighthearted Brexit-related headlines coming out of the EU economic peak, starting today.

    In the meantime, today's UK economic docket, highlighting the pardon of monthly retail sales data, though seems unlikely to be a major game changer, will be looked upon for some hasty-term trading opportunities.

  4. #134
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    GBP/USD Brexit Chaos Continues To Drive British Pound

    Caution ahead of tomorrows UK parliament meeting and UK 10-year Gilt yields save Sterlings gains limited but neutral USD and sure demonstration from fiddle when in Brexit control dynamics underpin Sterling bulls preventing intelligent declines. The GBPUSD pair has retained rangebound price be fresh greater than the course of the last three trading session. While headlines influenced a hasty burst of upside price act yesterday, the pair yet closed in the red. Following EU decision to accept UKs demand for Brexit deadline elaboration also than conditions attached to same, but uncertainties that followed subsequent to connected cap Sterlings gains. News hit the puff forward last evening that PM May was aiming to conduct the third meaningful vote concerning her Brexit treaty today. Sterling gained an upside boost vis--vis the news and hit an intra-hours of daylight tall of 1.3246 handles. But fell from intra-hours of daylight highs as the news was denied PM Mays spokesperson suddenly. Further, news hit the say that lawmakers in House of Commons yesterday voted roughly Letwin amendment.

    Change in Brexit Control Dynamics Welcomed by Traders & UK Citizens
    The amendment gives run of Brexit warfare to lawmakers otherwise of the presidency. However, the main focus re the report of the amendment was the fact that the amendment saying maintain from 30 conservative party members. This is in agreement proof that PM May is continuing to lose make known and control more than her government. While the British Pound suffered an intelligent loss upon denial of the third vote from PM Mays spokesperson, the modify in run dynamics of Brexit press to come is intensely welcomed in the UK and global vibes around. This helped the pair maintain its preserve above mid 1.31 handle during Asian insist hours today. As of writing this article, GBPUSD pair is trading at 1.3186 then to by 0.12% upon the hours of daylight. UK's 10-year gilt malleability fell knocked out 1% mark for first times in the past 2017 with link dovish pressure upon Sterling. Moving concentrate on, the price operates of the pair will be sure by the consequences of tomorrows vote in the habitat of commons upon various amendments for painful conformity taking into account Brexit. In rapid well along though, the focus is upon macro directory updates for rushed term profit opportunities. On the simple stomach, UKs calendar is bashful for the daylight, even if the US manual will see the pardon of CB consumer confidence data, Building permits, and housing starts data updates. Caution upon Brexit war is likely to continue limiting Sterlings gains today even though Brexit updates meet the expense of directional cues. Traders await US macro data updates for hasty term profit opportunities in the morning ahead. The pair will message range-bound price engagement across European and American puff hours as both sides of the pair tilt dovish pressure in the expansive verify. Expected maintain and resistance for the pair are at 1.3150, 1.3110, 1.3082 and 1.3240, 1.3285, 1.3300 respectively.

  5. #135
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    Post GBP/USD hurriedly reverses dismal UK PMI-led knee-jerk slide, expose stuffy multi-day tops

    An immediate slip in the UK facilities PMI exerts some selling pressure.
    Downside remains cushioned along amid fading prospects of a no-contract Brexit.

    The GBP/USD pair hastily reversed a knee-jerk slide to levels just out cold mid-1.3100s and is currently placed at the pinnacle subside of its daily trading range.

    Having jumped to multi-hours of day tops, closer to the 1.3200 handles, the pair started losing progression and momentarily slipped knocked out mid-1.3100s insensitivity to the disappointing forgive of the UK services PMI, which immediately fell into contraction territory in March. The downside, however, remained cushioned in wake of the latest Brexit developments, wherein Conservative's Sir Oliver Letwin and Labour MP Yvette Cooper tabled their movement to vote concerning a Bill to prevent a no-malleability Brexit and extend Article 50.

    This coupled following the fact that the UK PM Theresa May announced to ask the EU for a magnification of the Brexit deadline and offered for outraged-party talks surrounded by the enemy Labour Party leader Jeremy Corbyn outstretched some add-on maintain and helped limit any meaningful downside.

    With the incoming Brexit headlines turning out to be an exclusive driver of the sentiment surrounding the British Pound, the pair seemed rather unaffected, albeit remained supported by some renewed US Dollar selling despite a roomy leg of an upsurge in the US Treasury sticking to yields.

  6. #136
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    GBP/USD Price Forecast – British pound continues to grind higher


    The British pound rallied during the trading session on Wednesday as the UK parliament looks ready to talk a bit more to Theresa May about the Brexit situation. Obviously, any good news on the Brexit front is good news for the British pound, as we have seen over the last several months.

    The British pound initially rallied most of the day in European trading based upon relatively good news coming out of London, but at this point we are starting to fade a bit. Looking at the chart, it’s obvious that there is a significant amount of noise near the 1.32 level, so it’s not a huge surprise. However, the larger consolidation area is marked by the yellow boxes on the chart, with the 1.3350 level above being massive resistance, while the 1.30 level is massive support.

    Currently, I believe that this market is going back and forth between these levels as it
    await some type of resolution to the Brexit situation. When you look at the British pound from a historical standpoint, it is most certainly cheap overall, but as long as there is concern out there it’s going to struggle to hang onto gains for longer-term moves. As soon as we break above the 1.3350 level though, the market will probably go looking towards 1.35 handle above. On the other side of the equation, if we break down below the 1.30 level, then we could drop to the 1.28 handle underneath which is essentially an area where we could “reset” when it comes to trying to build up the move higher. Longer-term, I do believe that the British pound will shoot much higher, but obviously we have a lot of headline risk out there between now and then.

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