GBP/USD Price Analysis: Fades rebound below 100-DMA, focus on 1.3740-35
GBP/USD drops back to 1.3765 after snapping a two-day downtrend. In doing so, the cable pair fades the previous day’s bounce off the three-month-old resistance-turned-support during the early Asian session on Tuesday. Given the quote’s inability to cross the 100-DMA and 200-DMA, coupled with the steady RSI, GBP/USD prices are likely to retest the previous resistance line around 1.3740-35. Also adding to the support’s strength is an ascending trend line from September 30. Read more...
GBP/USD Forecast: Bullishness fades as Brexit headlines return to spotlight
The British pound has edged higher in the early European session on Monday but it's too early to say that GBP/USD is looking to extend its recovery given the risks posed by upcoming Brexit talks. Over the weekend, British Prime Minister Boris Johnson's office acknowledged that they had constructive talks with the EU regarding the Northern Ireland protocol. However, governance - the role of the European Court of Justice's in upholding and implementing trade rules, remains a major issue in talks. Read more...
GBP/USD Analysis: Bulls defend ascending channel pivotal support, at least for now
The GBP/USD pair extended its rejection slide from the very important 200-day SMA and witnessed some selling for the second successive session on Friday. The British pound's relative underperformance comes amid diminishing odds for an early policy tightening by the Bank of England (BoE) and fresh Brexit jitters. Against the backdrop of softer UK consumer inflation figures, the disappointing release of UK Retail Sales added to signs of weakness in the economic recovery. This, in turn, forced investors to scale back their expectations for an imminent BoE rate hike move in November. Read more...
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