GBP/USD ready to hit 100-day SMA after strong rally [Video]
GBPUSD had an impressive increase on Monday, jumping above the 50.0% Fibonacci retracement level of the down leg from 1.3515 to 1.1409 at 1.2460 and heading towards the 100-day simple moving average (SMA). The bias in the short-term timeframe remains neutral within the 1.2460 and the 1.2080 lines. Read More...
GBP/USD Forecast: Brexit breakthrough? Cable's continued climb depends on a deal, US demonstrations
Who will blink first? That seems to be the name of the game in EU-UK negotiations, and a breakthrough seems closer than last week – pushing the pound higher. According to The Times, Britain is ready to compromise on both fisheries – a small yet politically significant industry – and broader trade relations. The report suggests London is ready to compromise if Brussels does as well.
The change of tone comes amid the deadline to extend the transition period beyond year-end – something that Prime Minister Boris Johnson refused to do. Without an accord, Britain will default to World Trade Organization rules in 2021. Read More...
GBP/USD climbs beyond mid-1.2500s, fresh 1-month tops amid notable USD supply
The GBP/USD pair maintained its bid tone through the early European session and jumped to fresh one-month tops, just above mid-1.2500s.
The pair added to the previous day's strong intraday positive move of around 180 pips and gained some follow-through traction for the fourth straight session on Tuesday. The uptick also marks the GBP/USD pair's positive move for the sixth day in the previous seven and was sponsored by the prevalent US dollar selling bias. Read More...
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD stands firm above 0.6500 with markets bracing for Aussie PPI, US inflation
The Aussie Dollar begins Friday’s Asian session on the right foot against the Greenback after posting gains of 0.33% on Thursday. The AUD/USD advance was sponsored by a United States report showing the economy is growing below estimates while inflation picked up. The pair traded at 0.6518.
EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
Gold soars as US economic woes and inflation fears grip investors
Gold prices advanced modestly during Thursday’s North American session, gaining more than 0.5% following the release of crucial economic data from the United States. GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the US Fed could lower borrowing costs.
Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: Slower growth with stronger inflation
The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.