GBP/USD Price Analysis: Bulls look to 1.2450 while bears eye test of 1.2100.

In the 4-hour chart, we can see that the price is forming a head & shoulders pattern. A break of structure in the 1.2150s is required for a move into testing the trendline support and commitments at 1.2100.If the bulls were to commit, then the case for a higher bull cycle high would be onContinue reading “GBP/USD Price Analysis: Bulls look to 1.2450 while bears eye test of 1.2100.”

EUR/USD remains on the defensive below 1.0500, moves little post-German Factory Orders.

EUR/USD struggles to capitalize on its intraday uptick amid some buying around the USD.The better-than-expected German Factory Orders data also does little to provide impetus. The fundamental backdrop supports prospects for some meaningful corrective pullback.The EUR/USD pair surrenders its modest intraday gains to the 1.0520 area and refreshes the daily low during the early EuropeanContinue reading “EUR/USD remains on the defensive below 1.0500, moves little post-German Factory Orders.”

GBP/USD Price Analysis: Holds steady around 1.2300, just below ascending channel resistance.

GBP/USD retreats a bit from a multi-month high, though lacks follow-through. The technical setup still favours bulls and supports prospects for further gains. A sustained break below the 200 DMA is needed to negate the positive outlook. The GBP/USD pair reverses a mid-European session dip to the 1.2235-1.2230 area and remains well within the strikingContinue reading “GBP/USD Price Analysis: Holds steady around 1.2300, just below ascending channel resistance.”

GBP/USD subject to further weakness following an upbeat US NFP report.

The Pound Sterling nosedived to 1.2133 estimates, and wages rose. once the headline crossed newswires. US November’s Nonfarm Payrolls crushed  The GBP/USD dived from around 1.2290s close to 100 pips following a better-than-foreseen labor market report in the United States (US), suggesting that further central bank tightening is needed. However, in the aftermath of theContinue reading “GBP/USD subject to further weakness following an upbeat US NFP report.”