EUR/USD: Bears regain control around 1.0440 ahead of EMU CPI, US ISM.

EUR/USD resumes the downside well south of 1.0500.Germany June Final Manufacturing PMI came at 52.0.The selling bias re-emerged in the risk complex and drags EUR/USD back to the mid-1.0400s on Friday. EUR/USD weak on risk-off trade, looks to data.EUR/USD rapidly fades Thursday’s rebound and refocuses on the downside on the back of the resumption ofContinue reading “EUR/USD: Bears regain control around 1.0440 ahead of EMU CPI, US ISM.”

GBP/USD remains vulnerable to flushing below 1.20.

In the United Kingdom, political pressures are rising while monetary challenges are exacerbated. Economists at Westpac note that the GBP/USD pair could tumble to test the 1.120 level.UK’s political backdrop remains precarious  “UK is facing extreme monetary policy challenges with inflation at the top of major economy rankings while growth forecasts from bodies such asContinue reading “GBP/USD remains vulnerable to flushing below 1.20.”

EUR/USD Price Analysis: Further downside remains on the cards.

EUR/USD adds to the weekly leg lower around 1.0500. Extra losses appear likely in the short-term horizon.EUR/USD adds to the recent weakness and revisits the 1.0480 region on Wednesday, where some initial support turned up. The inability to leave behind the 4-month line near 1.0650 should keep the downside pressure unchanged around the pair. AgainstContinue reading “EUR/USD Price Analysis: Further downside remains on the cards.”

GBP/USD slides to three-day low, around 1.2230 area amid modest USD uptick.

GBP/USD witnessed some intraday selling on Tuesday and dropped to a three-day low. Rising US bond yields revived the USD demand and contributed to the intraday selling. The GBP/USD pair retreated nearly 60 pips from the daily swing high touched during the early European session and dropped to a three-day low, around the 1.2235-1.2230 regionContinue reading “GBP/USD slides to three-day low, around 1.2230 area amid modest USD uptick.”