GBP/USD Price Forecast: Consolidates near weekly highs on Thanksgiving The GBP/USD consolidates at around weekly highs, posting modest losses of 0.05% at around 1.2670 due to thin liquidity conditions as US markets remain closed for Thanksgiving. Read More… Pound Sterling falls against USD with thin trading volume on Thanksgiving Day The Pound Sterling (GBP) dropsto near 1.2660…
Pound Sterling jumps higher against US Dollar ahead of US data-packed day The Pound Sterling (GBP) moves higher against the US Dollar (USD), extends its upside above the three-day resistance of 1.2600 in Wednesday’s London session. The GBP/USD pair rises as the US Dollar declines. The US Dollar Index (DXY), which gauges the Greenback’s value against…
Fundamental Overview The US Dollar remains the strongest currency but overall, we haven’t got much action in the past couple of weeks due to the lack of key catalysts and the market’s pricing remaining largely unchanged around roughly three rate cuts by the end of 2025 despite a series of strong US data. This might…
Trump Tariffs Strategy: Big Stick Diplomacy? President elect Trump has not even taken office and he is already impacting markets, the latest being a threat to impose 25% tariffs on all products from Canada and Mexico, and an additional 10% levy on goods from China. This followed easing market concerns after Scott Bessent…
The US dollar has been able to maintain its strong stance ever since the change in US leadership. This has kept the GBPUSD pair under bearish pressure. Meanwhile, the Pound side of the market seems a bit tranquil, even as speculations surrounding expansionary policies are expected to rekindle inflation, causing the Fed to cut interest…
GBP/USD kicks off the new week on a positive note and snaps a three-day losing streak. Retreating US bond yields prompts some USD profit-taking and lends support to the pair. Reduced bets for a December BoE rate cut underpin the GBP and further act as a tailwind. The GBP/USD pair opens with a bullish gap…
GBP/USD sinks further following poor performances in key UK economic indicators and rising geopolitical concerns. Technical analysis highlights potential for the pair to test significant supports at 1.2445 and possibly the year-to-date low of 1.2299. RSI indicates oversold conditions, suggesting a heavy bearish pressure but not yet at extreme levels. The Pound Sterling extends…
GBP/USD falls to six-month lows near 1.2550 ahead of PMI figures from both economies GBP/USD extends its losses for the third successive session, trading around 1.2580 during the Asian hours on Friday. This downside is attributed to the stronger US Dollar (USD) as traders continued to evaluate the Federal Reserve’s (Fed) monetary policy outlook following the unexpected…
How to Trade the Current EURUSD Trend – Forex Forum November 20, 2024 /Posted byGVI Forex / 162 / Source…
The GBPUSD market has experienced a moderate upward rebound following an extended downward correction. This appears to be due to the US dollar losing some momentum following hawkish comments from Fed officials, which hinted at a potential 25 basis point rate cut in the next month (December). Let’s delve into the technical details below. Key…