Currency Newswire » GBP USD

The Daily Forecaster: GBP/USD

admin — Fri, 12 Nov 2010 04:46:48 +0000

There’s still a risk of seeing 1.6069 but while it holds the outlook is bullish otherwise expect losses

The underlying MT direction is bullish while the daily bias is bullish. Therefore the main risk is higher. Ensure that key support levels hold. Note key resistance levels that would suggest continuation of the bullish move. Consider confirming this with a bullish set up pattern in price or an indicator. Only consider a possible larger reversal lower should key MT support break and is supported by a bearish set up in price or an indicator

Consider buy set ups at: 1.6069-81

Consider sell set ups at: 1.6060 or 1.6254-94

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GBP/USD Breaks Below 1.6000

admin — Wed, 10 Nov 2010 05:22:56 +0000

GBP/USD fell further to 2-week lows at 1.5952. The pair plummeted almost 200 pips during the American session and is headed toward the third decline in a row, retreating further from 9-month highs. It currently trades at 1.5980/85, 0.97% below today’s opening price.

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GBP/USD Could Present Scalping Opportunity

admin — Mon, 08 Nov 2010 18:24:13 +0000

The GBP/USD saw its six day rally come to an end on Friday and emerging concerns that Ireland will be the next Greece helped build upon those losses. The greenback benefitted from a broader flight to safety which gave traders an excuse to take profits. Sterling support has been based on a dimming outlook for quantitative easing from the BoE as improving fundamentals have increased the odds that inflation will remain at elevated levels.

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Forex: GBP/USD Unable to Hold Above 1.6100

admin — Wed, 03 Nov 2010 22:18:24 +0000

The Cable jumped to 1.6170 after the FOMC announced the second round of quantitative easing, reaching a fresh 9-month high but reversed sharply and plummeted to 1.6033. GBP/USD recovered afterwards and currently is hovering below 1.6100, around the same price level it had reached before FED’s decision.

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Forex: GBP/USD is All About the FED Now

admin — Wed, 03 Nov 2010 02:57:41 +0000

The Pound come under pressure this Tuesday after a worse than expected construction PMI in the UK put the UK’s tumbling economic situation back in the spotlight.

“The pair has remained limited below [the] 1.6100 static area, with [the] hourly chart showing indicators mostly flat and bigger time frames turning south.”

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GBP/USD Still Bullish

admin — Tue, 02 Nov 2010 05:30:56 +0000

GBP/USD managed to reach an intraday high around 1.6090 yet finally closed at the Asian opening levels, barely unchanged intraday.

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British Pound Benefitting from Rising Yield Expectations and Dollar Weakness

admin — Fri, 29 Oct 2010 04:22:01 +0000

The GBP/USD reversed yesterday’s losses as the pair continues to benefit from broader dollar weakness. The greenback’s decline has helped spur risk appetite as stocks and commodities become cheaper for foreign investors.

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GBP/USD Breaks Lower

admin — Wed, 27 Oct 2010 20:44:18 +0000

The Cable failed to hold above 1.5755 and broke lower, falling to 1.5728, a fresh daily low. GBP/USD held close to session lows, under pressure. The pair weakened after the Wall Street opening amid a strengthening of the Dollar across the board.

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GBP/USD Technical Analysis:1.60 is the Key in Cable

admin — Tue, 26 Oct 2010 21:50:19 +0000

GBP/USD analysis shows the following today:

The all-important 1.60 handle has shown to be a “double top” over the course of the last several months, as shown by the arrows on the chart below. What were even more impressive were the shooting stars that formed at the 1.60 level, as it formed the second top.

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GBP/USD Approaches Daily Highs

admin — Mon, 25 Oct 2010 19:27:50 +0000

GBP/USD rose 50 pips in less than 30 minutes after being able to hold above 1.5700 and approached daily highs that lie at 1.5775. The pair is rising on Monday after falling in the last two trading sessions. It currently trades at 1.5755/60, 0.50% above today’s opening price.

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GBP/USD Retreats From Daily Highs Ahead of Beige Book

admin — Wed, 20 Oct 2010 21:30:46 +0000

FXstreet.com (Córdoba) – The Pound is moving away from 1.5876 (session highs) but is still posting important gains. GBP/USD rose more than 200 pips from the lows and erased most of yesterday’s losses.

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GBP/USD Falls Over 250 Pips

admin — Tue, 19 Oct 2010 22:02:21 +0000

FXstreet.com (Barcelona) – The Cable was sold-off aggressively against a vigorous Greenback on Tuesday, sinking from an intra-day high at 1.5935 reached in Asia to hit a fresh 3-week low at 1.5678. The Chinese rate hike triggered all the stampede of selling pressure, with USD gaining over 200 pips or 1.12%.

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GBP/USD: Trading the Bank of England Policy Meeting Minutes

admin — Mon, 18 Oct 2010 20:38:43 +0000

The Bank of England is scheduled to release its meeting minutes on Wednesday at 8:30 GMT, and the statement is likely to spark increased volatility in the British Pound cross rates as investors weigh the prospects for future policy. Earlier this month, we saw the central bank hold the benchmark interest rate at 0.50% and maintain its asset purchase target at GBP 200B in order to mitigate the downside risks for growth, but a shift in the BoE’s economic assessment could set the tone for future price action as investors speculate the MPC to expand quantitative easing over the coming months.

GBP/USD Challenging Major Resistance

admin — Thu, 14 Oct 2010 17:12:26 +0000

The GBP/USD breaking above 1.600 has led me into a cautious long position. I am concerned that the dollar’s decline may be overdone and due for a retracement and current struggles to remain above the psychological level has increased the odds of a reversal.

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GBP/USD Hits Fresh Daily Highs

admin — Fri, 08 Oct 2010 22:56:45 +0000

The Pound reached a fresh daily high against the Dollar at 1.5955 and remains near daily highs trading above 1.5930. “As long as 1.58 handle holds, trend remains firm and a retest of yesterdays high above 1.60 possible”, said the Kshitij Consultancy Services Team.

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GBP USD Analysis: Dollar Falls Amid Fed Easing Speculation

admin — Wed, 06 Oct 2010 03:27:03 +0000

Sterling climbed against the dollar on Tuesday, after interest rate decisions by Australia and Japan’s central banks heightened speculation that the U.S. Federal Reserve will implement new monetary easing measures.

In late European afternoon currency market trading, GBP/USD hit 1.593, cable’s highest since Aug. 9. The currency pair later pulled back slightly to trade at 1.5896, up 0.42 percent on the day.

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GBP/USD: Trading the Bank of England Interest Rate Decision

admin — Mon, 04 Oct 2010 20:21:05 +0000

Uncertainties surrounding the Bank of England interest rate decision are likely to keep the GBP/USD range-bound in the days ahead, but comments from the central bank would spark increased volatility in exchange rate as investors weigh the prospects for future policy.

However, if the central bank refrains from releasing a policy statement like we’ve seen during the past few months, muted price action would push us to the sidelines as the MPC is scheduled to release the meeting minutes on October 20th.

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GBP/USD Hits Fresh 3-Day Low

admin — Wed, 30 Jun 2010 20:56:00 +0000

The pound fell to a fresh 3-day low against the U.S. dollar on Wednesday, after official data showed that U.S. private sector employment fell more than expected in June.

GBP/USD hit 1.4965 during European afternoon trade, the pair’s lowest since June 25; the pair subsequently consolidated at 1.4970, shedding 0.62%.

GBP USD Holds Steady

admin — Wed, 30 Jun 2010 04:40:02 +0000

The Pound Dollar exchange rate is 0.364% lower with 1 GBP = 1.5053 USD at 1:15 PM in London.

The GBP USD rate has turned around since the Election and hit the turbo button after the Emergency Budget. The 900-pip rise since mid-May has propelled the rising 21-day moving average up through the 50-day version.

GBP/USD Consolidating

admin — Tue, 29 Jun 2010 03:54:35 +0000

GBP/USD Current price: 1.5095. General bias for the pair has not changed: Pound is strong enough to keep the bullish trend alive, and despite short lived downside corrective rallies, the pair manages to keep printing higher highs on daily basis.