GBP/USD calls for a bullish reversal near 1.3670 support [Video]
GBP/USD could be due for an upside correction following the stabilization near the key 1.3670 support region. Even though the new bearish cross between the 20- and 50-day simple moving averages (SMAs), which is the first since September, suggests the continuation of the short-term downtrend, the RSI is regaining ground towards its 50 neutral levels. Meanwhile, the Stochastics have already set up a bullish cross below the 20 oversold mark, signaling a pickup in positive momentum. Read more...
GBP/USD Forecast: Rising from the hangover? Not so fast, as vaccine issues grip markets
After 97 days, Brits got back to their beloved pubs – and sterling now suffers a hangover, albeit from different reasons. US authorities have asked to pause the administration of Johnson & Johnson's single-shot vaccines, dealing a blow to America's immunization drive. The move came after six women developed blood clots and despite the fact that nearly seven million people received the shot. Markets have turned down and the safe-haven dollar is rising.
Thrombosis – as blood clots are also known – has been dogging AstraZeneca's jabs that are in wide use in Britain and the news may trigger people to hesitate with inoculations. One of the pound's positive drivers has been the UK's successful vaccination campaign, with doses now offered to people 45 and older. Read more...
GBP/USD: Sterling to pay attention to Scottish elections just before the vote – TDS
The next Scottish parliamentary election is coming up on 6 May, in just over three weeks. So far, at least, the FX market has been content to ignore the potential risks of Scotland's upcoming election. With investors still focused on the pandemic recovery, economists at TD Securities think sentiment has grown more resilient against these shocks. That can change quickly, however, if the underlying political dynamic begins to shift in the final days of the campaign.
“Recent polling suggests that it's nearly a certainty that the SNP will be the largest party, and is on the cusp of winning a majority mandate. But even if the SNP underperforms at the polls, it will still be able to form a substantial pro-independence majority with the support of the Greens and possibly Alba.” 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
EUR/USD alternates gains with losses near 1.0720 post-US PCE
The bullish tone in the Greenback motivates EUR/USD to maintain its daily range in the low 1.070s in the wake of firmer-than-estimated US inflation data measured by the PCE.
GBP/USD clings to gains just above 1.2500 on US PCE
GBP/USD keeps its uptrend unchanged and navigates the area beyond 1.2500 the figure amidst slight gains in the US Dollar following the release of US inflation tracked by the PCE.
Gold keeps its daily gains near $2,350 following US inflation
Gold prices maintain their constructive bias around $2,350 after US inflation data gauged by the PCE surpassed consensus in March and US yields trade with slight losses following recent peaks.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.