Currency Pair of the Week: GBP/USD
The UK will release jobs data for March this week. The Claimant Count Change is expected to have risen by 150,000 vs 86,600 in February. If this month’s print is above February's, it will be the most since May 2020. Also, the unemployment rate is expected to uptick to...
Pound Surges, UK Job Data Looms
The British pound has soared at the start of the week. Currently, GDP/USD is trading at 1.3961, up 0.86% on the day.
Will pound break 1.40?
The British pound is on a torrid pace. The currency jumped 0.99% last week and has padded those gains on Monday. GBP/USD is closing in...
US Open: Stocks Consolidate at Record Highs, Earnings in Focus
US futures are easing lower after the Dow Jones & S&P 500 hit record highs on Friday. Earnings will step up a gear this week with Netflix, Johnson & Johnson, IBM & Coca-Cola due. USD slumps to 6 week lows.
US futures
Dow futures -0.2% at 34122
S&P futures -0.3%...
Dollar Selloff Resumes and Accelerates, Sterling Gaining Most For Now
Euro finally breaks through 1.2 handle against Dollar, as the greenback's selloff resumes today and accelerates broadly. Nevertheless, Euro is overwhelmed by others, in particular Sterling, which is the strongest for now, followed by Swiss Franc. Commodity currencies are somewhat lagging behind too, partly as they're facing some pressure...
GBP/USD Trades Above 1.3915
On Monday, the GBP/USD started the week with an extension of Friday's surge. Namely, the rate confirmed previous resistance near 1.3800 as support and resumed the surge that started just before mid-day on Friday.
In the near term future, the rate was expected to continue to surge, as it had...
Where Will The Current Wave Of Decline Take The Dollar?
The Dollar remains under moderate pressure at the start of the new week. The Japanese yen continues to recoup losses from the beginning of the year, with USDJPY falling to 108.00 this morning, an area of four-week lows. GBPUSD is gaining for the sixth trading session in a row,...
GBP/USD Outlook: Trend Reversal Signal Expected On Break Of Nearby Key Barriers
Cable advances for the sixth straight day and hit new nearly two-week high in early European trading on Monday.
Bulls cracked pivotal Fibo barrier at 1.3885 (38.2% of 1.4238/1.3669, eyeing next key levels at 1.3918/28 (Apr 6 high/daily cloud top).
Break of these resistances would confirm double-bottom pattern (1.3669) and generate...
GBPJPY 151.00 Required
The British pound is treading water against the Japanese yen on Monday, as both currencies are starting to gain ground against the greenback. Short-term GBPJPY bulls need to move the price above the 151.00 level to ignite a bullish inverted head and shoulders pattern with around 200 points of...
GBP/JPY Two Scenarios Likely
Upside risks dominated the GBP/JPY currency pair on Friday. As a result, the Great British Pound surged by 110 pips or 0.74% against the Japanese Yen during Friday's trading session.
All things being equal, bulls could continue to pressure the exchange rate higher during the following trading. A breakout through...
GBP/USD Is In Retracement Mode As Sellers Are Waiting In The Zone
The GBP/USD has formed a double top pattern exactly at the W H5 confluence zone. We can see that the pair is retracing and a new drop is possible.
Multi tops, including the double top should be preventing buyers changing the intra-week trend. Remember, 4h timeframe is an intraday, intra-week...
Daily Technical Analysis
EUR/USD
Current level - 1.1951
The corrective phase for the EUR/USD continues as the pair made another failed attempt to breach the resistance level of 1.1988 on Friday. The expectations are for the corrective movement to be limited to the main support at 1.1918 and for the currency pair to re-test...
EURGBP 0.8580 Possible
The euro currency looks like it may have found a meaningful price top against the British pound as the pair continues to reverse from the 0.8700 level. Bearish MACD price divergence on the lower time frames is a warning of a further decline towards the 0.8580 area. Technical selling...
GBPUSD Bullish Above 1.3780
The British pound is looking more bullish against the US dollar, following last Friday’s powerful breakout above the 1.3800 level. Lower time frame analysis shows that a bullish trendline breakout has taken place after the GBPUSD pair moved above the 1.3780 level. If the GBPUSD pair continues to hold...
Euro Falls in Crosses, Yen Bounces on Strong Export Data
Yen bounces broadly in Asian session session today, after Japan reported solid trade data. Sterling is currently following as second strongest, then Aussie. On the other hand, Euro weakens in general, dragging down the Swiss Franc too. The developments came as Sterling is reversing recent decline against other European...
Market Morning Briefing: Aussie Is Stable Within 0.77-0.7765
STOCKS
Dow has risen well above 34000 and has potential to test 35000. The corrective fall that we have been expecting is not happening. DAX can test its crucial resistance level of 15700 and then reverse lower. Nikkie can fall within its 28000-31000 range. Shanghai can test the upper end...
Forex and Cryptocurrencies Forecast
First, a review of last week's events:
EUR/USD. The past week was marked by two important economic events: impressively strong macro-statistics from the USA and a collapse in the yield of 10-year US government bonds.
According to the data published on Thursday April 15, US retail sales jumped by +9.8% in...
CFTC Commitments of Traders – Net Long of Commodity Currencies Fell Across the Board
As suggested in the CFTC Commitments of Traders report in the week ended April 13, NET LENGTH of USD index futures gained +1 504 contracts to 5 953. Speculative long positions dropped -1 027 contracts while shorts fell -2 531 contracts. Concerning European currencies, NET LENGTH in EUR futures...
Sunset Market Commentary
Markets
4k: check. The EuroStoxx 50 passes the psychologic 4000 mark for the first time since January 2008! Ever since taking out the 2015 & 2020 tops which coincided more or less with 76% retracement of the 2007-2009 sell-off (3900-area), this moment had been coming. Technically, the path to the...
Europe Rallies on Impressive China, US Data
European equities head higher
European bourses are on the rise rounding off an upbeat week. Following all-time highs on Wall Street overnight and record Chinese quarterly economic expansion, stocks across Europe appear well supported heading towards the weekend.
Signs of strong economic recoveries in the world’s two largest economies is buoying...
GBPUSD Make Or Break
The British pound has fallen sharply against the US dollar this morning as bulls failed to hold the pair above the technically important 1.3780 level. GBPUSD buyers need the price above the 1.3740 level to increase the chances of a quick recovery back towards the 1.3780 level. Traders should...
GBP/USD Fails To Pass 1.3800
After many attempts to pass the 1.3800 level and the zone above it, the GBP/USD currency exchange rate eventually declined. During the early hours of Friday's trading hours, the rate had reached the support of the zone near the 1.3720 mark. This zone had provided minor impact throughout April.
If...
GBP/JPY Decline To Continue
The British Pound traded with low volatility against the Japanese Yen on Thursday. The GBP/JPY currency pair declined by 46 pips or 0.31% during yesterday's trading session.
As for the near future, the exchange rate could continue to edge lower. Bearish traders are likely to target the weekly support level...
GBP/USD Outlook: Sterling Eases On Firmer Dollar / Profit-Taking
Cable was sold in early European trading on Friday, as the pound came under pressure from signs that City was hit worse than expected by Brexit that prompted traders to collect profits from the four-day rally.
Some 440 financial firms in Britain have shifted activities and staff (around 7400 jobs...
GBPJPY Pauses Upside Structure, 151.00 Acts As Resistance
GBPJPY has been on the sidelines mostly this week as the 151.00 level and the short-term simple moving averages (SMAs) seem to be a real struggle for the bulls. Technically, the price could lose some ground in the near-term as the MACD is continuing the direction to the downside...
Daily Technical Analysis
EUR/USD
Current level - 1.1950
The currency pair is trading in a corrective phase after the bears successfully managed to limit the appreciation of the euro against the dollar down to the resistance of 1.1988. However, the sentiment is still positive, for another test of the mentioned level. In the downward...
Market Morning Briefing: Dollar-Yen Has Just Started To Bounce From 108.61
STOCKS
Dow has risen past 34000 and while this break sustains our view of seeing a corrective fall will get negated and a further rise to 35000 is possible. DAX is stuck in the narrow 15100-15300 range and looks mixed in the near-term. Nikkei and Shanghai can oscillate in the...
Sunset Market Commentary
Markets
The better the US eco data get, the more adverse the market reaction becomes. It fits with the view that markets turned into reflation hibernation at the start of Q2 2021. Markets finally aligned with the Fed’s message not to frontrun on policy normalization any time soon. The US...
GBP/USD Should Get Squeezed In
Since Wednesday's early trading hours, the GBP/USD has fluctuated between the 1.3800 mark and the 55-hour simple moving average, which had been pushing the rate up. The situation was expected to end with a squeeze in between the two mentioned levels.
In the case of the 55-hour simple moving average...
GBP/USD Outlook: Bulls Lose Steam At 1.3800 Resistance Zone
Fresh bulls off 1.3670 support are struggling at 1.3800 zone as Wednesday’s candle with long upper shadow and failure to close above daily Tenkan-sen (1.3794) signal that three-day rally might be running out of steam.
South-heading momentum on daily chart is cracking the centreline and adding to negative signs.
Near-term action...
The Analytical Overview Of The Main Currency Pairs
The EUR/USD currency pair
Technical indicators of the currency pair:
Prev Open: 1.1948
Prev Close: 1.1979
% chg. over the last day: +0.26%
The euro continued to rise against the US dollar amid growing yields on German Bonds. In the absence of important macroeconomic news, this factor is now playing a major role.
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