Intraday news and views – GBP/USD

AceTrader Team AceTrader

Intraday market moving news and views

Update Time: 24 May 2022 07:10GMT.

GBP/USD outlook - 1.2590

Cable's intra-day rally above last Thur's near 2- week high of 1.2524 to 1.2600 in Europe suggests recent up move from May's 1.2156 trough would head to 1.2610/15 after consolidation, reckon May's 1.2638 peak should cap upside and yield correction 'later'.

As 1.2548 has contained retreat, hold long for 1.2610/20. Only below 1.2524 risks 1.2490/00.

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AceTrader Team

AceTrader

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EUR/USD turns negative near 1.1850

EUR/USD has given up its earlier intraday gains on Thursday and is now struggling to hold above the 1.1850 area. The US Dollar is finding renewed support from a pick-up in risk aversion, while fresh market chatter suggesting Russia could be considering a return to the US Dollar system is also lending the Greenback an extra boost.

GBP/USD change course, nears 1.3600

GBP/USD gives away its daily gains and recedes toward the low-1.3600s on Thursday. Indeed, Cable now struggles to regain some upside traction on the back of the sudden bout of buying interest in the Greenback. In the meantime, investors continue to assess a string of underwhelming UK data releases released earlier in the day.