Fundamental factors: The pound fell to a two-month low after Theresa May added to fears that Britain is heading towards “Brexit”. In the previous week, UK PMIs Pointed to expansion and beat their estimates, but the pound was unable to gain strength against Dollar. Dollar strengthening against Pound could drift the pair lower towards 1.1900/1.1185...

The post GBPUSD: Brexit Fears resume the downtrend appeared first on Forex Crunch.

After worse than expected UK CPI Data on Tuesday, October 14th bears took cable towards 1.5870 levels (inverse Fibonacci 23.6 level) where the pair found its next support level.  Although the pair had a strong bullish momentum during the second half of the week, the pair could not breach its down-sloping trendline and closed the...

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GBP/USD failed to dip below the psychological area of 1.6000 during Thursday’s European session, despite the disappointing retail sales data. On Friday UK QoQ GDP rose 0.7% in Q3 in line with expectations, however weaker than Q2’s QoQ +0.9% expansion. Although fundamentally slowing in Economic growth raise concerns regarding GBP, it enables us to believe...

The post GBP/USD Technical analysis Oct. 27-31 appeared first on Forex Crunch.

Our GBPUSD forecast has rallied in the last few hours as it tries to recover after its sell-off. Closing the current candle around 1.3854 current level could invalidate a deeper decline. The US Dollar Index has decreased a little from 92.73 today’s high. The United States Consumer Price Index registered a 0.9% growth in June,...

The post GBP/USD Forecast: Fighting Hard to Get Back in Buyer’s Territory appeared first on Forex Crunch.

GBP/USD plummeted 130 pips from 1.3900 resistance. COVID is still weighing on the British Pound. Brexit concerns can raise their heads. Fed meeting minutes can provide more impetus to the market. Technically, the pair is looking to post more losses. The GBP/USD pair could not hold gains near the 1.3900 resistance and fell more than...

The post GBP/USD: Bears continue to dominate appeared first on Forex Crunch.

GBP/USD bulls are keeping up in the short run. UK data came up with positive figures, lending support to the British Pound. Fed meeting minutes can catalyze the market. Technically, bulls are keeping control. The GBP/USD pair maintains the bid tone in the Asian session on Tuesday after a long weekend. It looks like the...

The post GBP/USD: Upbeat UK data helping bulls appeared first on Forex Crunch.

GBP/USD is recovering after the worst fall in June.   BoE is maintaining a dovish tone that can hamper the rise.   Delta variant can also weigh on the pair.   June being the worst month of the last nine, the GBP/USD is gradually recovering. It would seem that after the Fed stopped ignoring the...

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The GBP/USD started the week with bullish bets but lost momentum Demand in US Dollar can help in determining further directional bias Technically, the breakout of range (1.3860 – 1.4000) will be decisive to find the next trend     In this week’s GBPUSD forecast we see the the British Pound starting Monday positively, marking...

The post GBP/USD Forecast: Pound Searching For Direction Around 1.3900 appeared first on Forex Crunch.

After a tentative start to the first trading session of the week, sterling is finding its footing against the US dollar. GBP/USD is trading at 1.3861 at the time of writing. The more than 2% rise in the dollar against major currencies last week may have taken the buck into overbought territory, and sterling is...

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What is the outlook for GBP/USD in the near-term? Here is their view, courtesy of eFXdata: Credit Suisse discusses GBP/USD technical outlook and  highlights the importance of the 1.4095 level for near-term directional bias. “GBPUSD remains  well supported above its recent low and 13 -day exponential average at 1.4100/1.4095 and with a base in place...

The post GBP/USD: Staying Tactically Bullish Whilst Above 1.4095 Targeting 1.4377 – Credit Suisse appeared first on Forex Crunch.