GBP/USD Technical Analysis The current price of the currency pair GBP/USD has dropped below 20-Day Simple Moving Average and is poised to decline further in the coming hours. Since February, the forex pair has been moving in the descending triangle pattern, and now it has reached close to the edge. From here, the price can …
GBP/USD reaching the edge of Descending Triangle – Limited Upside Potential Read More »
GBP/USD Fundamental Analysis GBP/USD is trading at $1.2031, up by 0.15 in 24 hours. The US personal consumption expenditure (PCE) data will be released today. Therefore, the British pound is testing critical support against the US dollar. GfK Consumer Confidence The GfK’s consumer confidence indicator rose to -38, seven points higher than the previous -45. …
GBP/USD falls despite Better than Expected GfK Consumer Confidence Read More »
GBP/USD Fundamental Analysis UK monthly Retail Sales data The Office for National Statistics (ONS) issued the monthly UK retail sales figures for January 2023 on Friday, February 17. The data show that it increased by 0.5% MoM compared to a market prediction of -0.3% and earlier readings of -1.0%. As a result, the forex pair …
GBPUSD dropped below 200-SMA amid Strong USD and Concerns from BoE Read More »
GBP/USD Fundamental Analysis Today, GBP/USD exchange rate is lower after the release of reducing UK Inflation data and the rising US dollar against the basket of major currencies. US CPI is still High On Tuesday, February 14, US statistics showed that inflation is still strong. The annual Core CPI was slightly higher than the market …
GBPUSD Bears are back after UK Inflation Data – US Retail Sales on Focus Read More »
GBP/USD Fundamental Analysis In the early European session, the Office for National Statistics (ONS) reported preliminary GDP data for the December and the fourth quarter (Q4) of 2022. The most recent figure indicates that UK GDP dropped by 0.5% month-on-month in December rather than the 0.3% predicted. Additionally, the ONS reported that the economy expanded …
GBP/USD – 20-Day SMA holding the pair ahead of Bearish Pressure Read More »
GBP/USD Fundamental Analysis The currency pair GBP/USD lost most of its previous daily gains on Thursday. The USD Index dropped massively on Wednesday after the US Federal Reserve announced a less-hawkish monetary policy. The US Dollar Index (DXY), which measures the value of the greenback against the basket of six major currencies, dropped from 102 …
GBP/USD Under Pressure ahead of BOE Interest Rate Decision Read More »
GBP/USD Daily Technical Analysis Sterling Moves Towards 1.2350 Level After The UK Employment Data GBP/USD gathered the attention of fresh buyers on Tuesday’s session as the UK employment data was on focus. After the positive release of the Average Earnings Index of 6.7% rise in the September to November 2022 report, Cable strengthened and pushed …
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