GBP/USD Forecast: Bulls maintain the pressure, aim for 1.2700 and beyond
The British Pound retains its strength against the US Dollar, with GBP/USD comfortably trading above the 1.2600 threshold after peaking on Monday at 1.2644, its highest since last August. On the one hand, the GBP benefited from hawkish comments from Bank of England (BoE) officials. On the other hand, the US Dollar stays on the back foot amid speculation the Federal Reserve (Fed) is done with rate hikes and will soon move in the opposite direction. Read more...
GBP/USD extends gains near 1.2630 on subdued US Dollar
GBP/USD continues its winning streak that began on Thursday, trading higher around 1.2630 during the Asian session on Tuesday. The Pound Sterling (GBP) shows strength against the US Dollar (USD) for the fourth consecutive day, showcasing the resilience of the UK economy. This steadfast performance comes despite the tightening measures implemented by the Bank of England (BoE). Read more...
GBP/USD: Heading towards 1.2670/1.2720 – SocGen
GBP/USD captures 1.26. Economists at Société Générale analyze the pair’s technical outlook.
GBP/USD recently broke out from a base and reclaimed the 200-DMA. This has resulted in an extended bounce leading the pair towards neckline of previous Head and Shoulders. Read more...
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GBP/USD churns ahead of UK wages and labor figures
GBP/USD churned chart paper just north of 1.3000 on Monday, with markets striking a laid-back tone ahead of key UK data due to release in the first half of the trading week. UK wages and jobs additions are slated for early Tuesday, with UK Consumer Price Index and Producer Price Index inflation in the barrel for Wednesday.
EUR/USD remains depressed below 1.0900, lowest since August 8 amid stronger USD
The EUR/USD pair drifts lower for the second straight day on Tuesday and drops to the 1.0890 area in the last hour, back closer to its lowest level since August 8 touched the previous day. Bearish traders, however, need to wait for a break below the 200-day SMA before placing fresh bets ahead of the key central bank event risk.
Gold price edges lower amid stronger USD, downside potential seems limited
Gold price trades with a negative bias for the second straight day on Tuesday and is pressured by a combination of factors. Traders no longer expect another outsized interest rate cut by the Federal Reserve in November, which had been a key factor behind the recent upswing in the US Treasury bond yields.
Bitcoin targets $70,000 as bullish momentum builds
Bitcoin is retesting its key resistance level, and a solid close above this threshold could fuel its ongoing rally. Meanwhile, Ethereum has successfully breached its resistance, signaling potential upward momentum, while Ripple approaches its crucial resistance barrier.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
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