GBP/USD Price Analysis: Eases from 50-SMA but bulls not out of the woods
GBP/USD bulls take a breather following the heaviest jump in 11 weeks. Clear break of eight-day-old falling trend line, rebound from short-term key support favor bulls. 200-SMA adds to the upside filters, 1.3570-65 will be the key for bears. GBP/USD defends 1.3700, recently picking up bids near 1.3720, during a pullback from 50-SMA. Even so, the cable pair keeps the previous day’s upside momentum, the heaviest since early July. Read more...
GBP/USD Forecast: Pound up on hawkish BOE
A better market mood helped GBP/USD recover ground ahead of the Bank of England monetary policy decision. The upbeat sentiment was the result of news coming from China, as Evergrande, the indebted property development giant is likely to be restructured into three separate entities, to prevent financial disruption in the country. The pair was trading at around 1.3680 pre-BOE announcements. Read more...
GBP/USD holds steady after hawkish BOE decision
The GBPUSD pair declined after the latest BOE decision. It rose to a high of 1.37000, which was substantially lower than this week’s low of 1.3600. On the four-hour chart, the MACD line has crossed over the histogram while the Relative Strength Index (RSI) has moved from the oversold level. It has also formed a double-bottom pattern. Still, there is a likelihood that the pair will resume the bearish trend in the near term. Read more...
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