GBP/USD sends bearish vibes below 20-SMA [Video]
GBPUSD saw its bullish efforts evaporate near its 20-day simple moving average (SMA) on Monday, with the pair finishing the day muted and beneath last week’s peak of 1.3627 once again. GBPUSD saw its bullish efforts evaporate near its 20-day simple moving average (SMA) on Monday, with the pair finishing the day muted and beneath last week’s peak of 1.3627 once again. Read more...
GBP/USD Forecast: Sellers to take action in case 1.3500 support fails
GBP/USD has been fluctuating in a relatively tight channel since the beginning of the week with investors waiting for the next catalyst. The near-term technical outlook confirms GBP/USD's indecisiveness and suggests that the pair needs to move out of the 1.3500-1.3560 band to determine its next direction.
Although the dollar is finding demand on rising US Treasury bond yields early Tuesday, the positive shift witnessed in risk sentiment is helping the British pound stay resilient against its peers. Reflecting the upbeat market mood, the UK's FTSE 100 Index is up nearly 0.7% and the S&P Futures are posting small daily gains. Read more...
GBP/USD refreshes daily high near mid-1.3500s, stronger USD warrants caution for bulls
The GBP/USD pair rallied nearly 50 pips from the early European session low and shot to a fresh daily high, around mid-1.3500s in the last hour. The pair attracted some dip-buying in the vicinity of the key 1.3500 psychological mark on Tuesday and is now looking to build on the overnight bounce from a four-day low. The uptick lacked any obvious fundamental catalyst and runs the risk of fizzling out rather quickly amid a goodish pickup in the US dollar demand.
Expectations that the Fed would tighten its policy at a faster pace triggered a fresh leg up in the US Treasury bond yields and underpinned the greenback. In fact, the markets are pricing in a 50 bps rate hike in March, which, in turn, pushed the yield on the benchmark 10-year US government bond closer to the 2.0% threshold. Read more...
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