Pound/Dollar: Cable is suffering amid strengthening dollar and election uncertainty [Video]
Cable suffered on Friday amid a strengthening dollar and election uncertainty for sterling. A strong negative candle saw another retreat back to the 23.6% Fib level (of the October rally $1.2193/$1.3012) at $1.2820. Read more...
GBP/USD refreshes session tops, inching back closer to 1.2900 handle
The buying interest around the British pound picked up some additional pace in the past hours and lifted the Pound/Dollar pair to fresh session tops, around the 1.2875-80 region.
The pair caught some fresh bids on the first day of a new trading week and recovered a major part of the previous session's downfall to over one-week lows, triggered by the dismal UK flash PMI prints for November and resurgent US dollar demand. Read more...
Pound/Dollar recovery attempt faces significant resistance — Confluence Detector
Pound/Dollar has been moving marginally higher as Prime Minister Boris Johnson's Conservative Party has gained ground in the polls. Can cable extend its gains? It may struggle.
The Technical Confluences Indicator is showing that fierce resistance is waiting at 1.2887, which is the convergence of the Simple Moving Average 100-4h, the Fibonacci 38.2% one-week, the Fibonacci 61.8% one-day, the Bollinger Band 1h-Upper, and the BB one-day Middle. Read more...
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US economy: slower growth with stronger inflation
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