GBP/USD meets with a fresh supply on Friday and retreats further from the post-US CPI swing high. The BoE’s bleak outlook undermines the GBP and acts as a headwind amid a modest USD strength. The better-than-expected UK macro data does little to impress bulls or lend support to the major. The GBP/USD pair turns lower… Read More »
GBP/USD initially spiked up before retreating on the UK data-dump. UK Q2 GDP contracted 0.1%, monthly statistics remained fairly mixed for June. US dollar weakness initially helped cable bulls but Fed’s resistance to welcome inflation probed upside momentum. First impressions of the US Michigan Consumer Sentiment Index for August will be eyed to confirm inflation-linked… Read More »
Quarterly GDP for the UK contracted by 0.1% in Q2 vs. -0.2% expected. UK GDP arrived at -0.6% MoM in June vs. -1.3% expected. GBP/USD recaptures 1.2200 on upbeat UK GDP. The British economy contracted 0.1% QoQ in the three months to June when compared with a 0.8% growth booked in Q1 and -0.2% expectations.… Read More »
The British economic calendar is all set to entertain the cable traders in early Friday, at 06:00 GMT, with the preliminary GDP figures for Q2 2022. Also increasing the importance of that time are monthly GDP figures for March, Trade Balance, Manufacturing Production, and Industrial Production details for the stated period. Having witnessed an 8.7%… Read More »
GBP/USD extends the previous day’s losses towards refreshing daily low, mildly offered of late. Hawkish Fedspeak contradicts recently softer US inflation data and helps US dollar to lick its wounds after five-day downtrend. Jitters surrounding UK politics, Brexit join BOE’s gloomy outlook to keep buyers at bay. The preliminary reading of the UK’s Q2 GDP… Read More »
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GBP/USD is facing barricades around 1.2200 as investors await UK GDP data. A vulnerable UK GDP will accelerate troubles for the BOE. Higher Initial Jobless Claims have supported the DXY at lower levels. The GBP/USD pair is hovering around the immediate hurdle of 1.2200 after a modest rebound from 1.2185. The asset defended Wednesday’s low… Read More »
The GBP/USD drops almost 0.05% amidst a risk-off impulse while the US dollar weakens. US prices paid by producers easied, while unemployment claims jumped for the second consecutive week. GBP/USD Price Analysis: Retreated from a descending-channel trendline, eyes a break below 1.2200. GBP/USD edges lower off the weekly highs around 1.2276 near a top-trendline of a… Read More »
GBP/USD Forecast: Pound to remain bullish as long as 1.2175 support holds GBP/USD has gone into a consolidation phase early Thursday following Wednesday’s impressive rally. The near-term technical outlook suggests that the pair’s bullish bias stays intact and an extended recovery could be witnessed in case buyers continue to defend 1.2175. The dollar came under… Read More »
Attracts dip buying in the 1.2180 area amid the emergence of fresh USD selling on Thursday. Diminishing odds for a larger Fed rate hike in September, the risk-on mood undermines the USD. Bulls might still wait for some follow-through buying before positioning for any further move up. The GBP/USD pair recovers nearly 50 pips from the… Read More »
GBP/USD keeps pullback from one-week high, holds lower grounds near daily lows. US dollar retreats as Fedspeak fails to praise inflation miss, China-linked news favor safe-haven demand. UK ministers will meet major energy firms amid talks of tightening a 25% levy on the North Sea oil and gas operators. US Jobless Claims, PPI will also… Read More »
