GBP
U.K Inflation at 4.5%, GBP/USD Hits 9 Weeks Low
…comes at a time where the Euro and Sterling are both on an extreme downside trend against the U.S dollar. The GBP/USD broke the 1.5780 major support line, hitting a 9 weeks low. Intraday bias for the currency pair remains on the downside, as long as the 1.6200…
Tuesday’s ETF To Watch: CurrencyShares British Pound Sterling Trust (FXB)
…focus on keeping monetary policy loose could help to boost growth, it also suggests that investors in pound-denominated assets may be on the losing end of the trade as the British currency continues to slide against many of its major counterparts, and especially…
GBP Expecting Volatility With Inflationary Reports On Tap
…attention to the latter in the case of mounting pessimism and its affect on dollar values. The Great Britain pound (GBP) is expected to be seen trading with bullish results this week ahead of a slew of reports on the country’s inflation and housing sectors….
GBP/USD Bounces from 8 Month Low As Inflation Remains Firm
…1.5650, followed by 1.5550. Resistance is at 1.5820, followed by 1.5910. For more on the pound, see the GBP/USD forecast. Tomorrow we have the all important employment figures.
The British Pound: What Every Forex Trader Needs To Know
Foreign exchange, or forex, trading is an increasingly popular option for speculators. Ads boast of “commission-free” trading, 24-hour market access, and huge potential gains, and it is easy to set up simulated trading accounts to allow people to practic
EUR/GBP Bounces Off of a Rising Trendline From June 2010
Forex Technical Update Prev: Trichet Giving Euro-Bears a Run for Their Money (9/8) EUR/GBP The EUR/GBP is seen in the weekly chart testing a rising trendline that extends back to June of 2010. The weekly chart also shows an RSI reading stuck mostly between 60 and 40 since then, reflecting a long-term consolidation period. Price is trading above the 200SMA though, so the bias in the long-term is still bullish. If it remains bullish, we are at a very important support, near 50% retracement, 200SMA, and the rising trendline.
Short EUR/GBP
…and tertiary targets could be extended lower given the fundamental outlook of Europe. DailyFX provides forex news on the economic reports and political events that influence the currency market. Learn currency trading with a free practice account and…
British Pound Could Fall Further
…– Forex trading crowds remain heavily net-long the British Pound against the US Dollar, but a more recent moderation in crowd sentiment waters down our previous bearish bias. The ratio of long to short positions in the GBPUSD stands at 1.47 as nearly 59% of…
British Pound On Shaky Ground Ahead Of Rate Statements
…balance, though that news is likely to be overshadowed by Europe’s news. The direction of the British pound (GBP) is lacking uniformity among speculators as the Bank of England’s (BOE) rate decision approaches. Against the US dollar (USD) the pound has actually…
Forex: British Pound To Consolidate Further, USD Looks For Direction
…for monetary policy. The British Pound continued to recoup the losses from earlier this month, with the GBP/USD advancing to a high of 1.6051, and we should see the exchange rate consolidate in the days ahead as market participants weigh the outlook for monetary…
Why isn’t GBP a flight to quality?
…skilled workers, great football and the best bars and clubs. Schools are even better. So why is the GBP such a poor currency? Mervyn King wants to know why which is why QE nth edition starts again.
Pending Short EUR/GBP
…as a funding currency, there exists a need for another safe haven alternative against the Euro. Enter the British Pound. With the EUR/GBP failing to break above a significant Double Top set in mid-July and mid-August, as well as holding above its Range Bottom…
British Pound Declines Against Euro After Report on Falling House Prices
…0.3 percent to 88.04 pence per euro as of 9:07 a.m. in London, adding to yesterday’s 0.4 percent loss. The pound gained 0.5 percent to $1.6017, after slipping yesterday below $1.60 for the first time since July 13.
GBP/USD Might Not See Support Until 1.5740-1.5750
Forex Technical Update GBP/USD Starting with the weekly chart, we see that since 2008, the GBP/USD has been in consolidation mode following a bear run earlier in the year and in late 2007. Since then, the RSI maintained below 60, so the long-term momentum has never turned away from being bearish. Now in Sept of 2011, the SMA 200 finally caught up to the price action, but price action was not able to break above it a few weeks ago. This means the bull run that began in May of 2010 has been capped.
GBP/USD Performance Chart as at 10:15 p.m. Singapore time, 6/09/11
…to the Swiss National Bank’s decision to peg the EUR/CHF exchange rate level at 1.20. Further weighing on the pound was UK service sector data, which posted its biggest drop in a decade on Monday. In addition, UK retail sales data added to further worries…
GBP/JPY Respects Support at 123.40 and Resistance at 124.50
Forex Technical Update GBP/JPY The 123.35-123.40 support from August held. A sharp rebound pushed the market to 125.00 , but the 4H chart above shows failure to close above the 124.50 pivot. Still the bullish 4H candle engulfed all of this week’s earlier bearish candles. Note the RSI showing a 3-pt divergence (the second RSI low is higher than both the 1st and 3rd.
Strategy for today: short GBP/USD
…issues which can also adversely affect actual trading results. Only risk capital should be used for forex, commodities, futures and other financial instruments trading due to the high risk of loss. The calculated Risk/Reward should be regarded as hypothetical…
GBP/USD Performance Chart as at 1:00 p.m. Singapore time, 6/09/11
…situation elsewhere. However, this theme seems to have changed over the last week, and was further compounded overnight by a disappointing services PMI reading. It came in at 51.1 versus expectations of 54.3, the fastest slowdown in a decade which spurred…
GBP/USD Outlook – September 5-9
…here, PPI usually provides some guidance towards the CPI, and is expected to drop by 1.6% this time. The British pound/dollar began the week trading at 1.6362 but closed with the pound down against the dollar, above the 1.62 line (mentioned last week). Technical…
GBP/USD Performance Chart as at 1:00 p.m. Singapore time, 5/09/11
…at 1.6220 after earlier hitting a high of 1.6251. The focus this week for traders will be Thursday’s Bank of England interest rate decision. The BoE has been relatively neutral over the last few months, leaving the currency at the whim of where markets pushed…
