GBP/USD Price Analysis: Plummets to over two-week low, seems vulnerable to slide further.

GBP/USD witnessed aggressive selling on Friday and dived to over a two-week low. Technical selling below the 1.2100 mark aggravated the intraday bearish pressure. Descending trend-channel breakdown supports prospects for a further near-term fall. The GBP/USD pair added to its heavy intraday losses and tumbled to over a two-week low, around the 1.2030 region headingContinue reading “GBP/USD Price Analysis: Plummets to over two-week low, seems vulnerable to slide further.”

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.”

GBP/USD flirts with 1.2100, lowest in nearly two weeks post-Fed’s Powell and BOE’s Bailey

GBP/USD witnessed heavy follow-through selling and dropped to a nearly two-week low. The GBP/USD pair added to the previous day’s heavy losses and remained under intense selling pressure for the second successive day on Wednesday. The downward trajectory picked up pace during the early North American session and dragged spot prices to the 1.2100 neighbourhood,Continue reading “GBP/USD flirts with 1.2100, lowest in nearly two weeks post-Fed’s Powell and BOE’s Bailey”