GBP/USD reverses a dip below 1.3600 amid hotter UK inflation, impending bull cross.

GBP/USD continues to find strong support sub-1.3600 levels.Hotter UK inflation and softer US dollar help the rebound in cable.Impending bulls cross and bullish RSI add credence to the corrective upside.GBP/USD is bouncing back above 1.3600, snapping a four-day winning streak after bulls faced rejection at the 200-Daily Moving Average (DMA), now at 1.3735. The turnaroundContinue reading “GBP/USD reverses a dip below 1.3600 amid hotter UK inflation, impending bull cross.”

GBP/USD fails to break above 200DMA in 1.3730s despite solid UK GDP figures.

GBP/USD has failed to push above its 200DMA on Friday despite solid UK GDP and Industrial Production data.The now quite overbought pair has since dropped back to the 1.3710 area, where it consolidates ahead of US data.A much stronger than expected UK GDP growth rate in November and a promising rebound in manufacturing activity inContinue reading “GBP/USD fails to break above 200DMA in 1.3730s despite solid UK GDP figures.”

GBP/USD struggles to defend 1.3700 ahead of key Brexit talks.

GBP/USD seesaws around 11-week high, pauses two-day uptrend.UK’s Truss meets EU’s Sefcovic, Trade Secretary Trevelyan to push for post-Brexit free-trade deal with India.Britain prints record infections, UK PM Johnson rejects resignation demands. US inflation couldn’t propel greenback but today’s Fedspeak may do.Having jumped the most in three weeks, GBP/USD steadies around 1.3710 during early Thursday.Continue reading “GBP/USD struggles to defend 1.3700 ahead of key Brexit talks.”

EUR/USD: Bears eye 1.1300 as USD rebounds amid inflation fears.

EUR/USD consolidates the biggest daily gains in a month while refreshing intraday low.US NFP disappointed greenback bulls but details keep Fed hawks on the table. EU inflation jumped to post-pandemic high, ECB’s Schnabel, Lane raise concerns over energy prices.EUR/USD remains on the back foot around 1.1340-35 as traders pare the biggest daily jump in aContinue reading “EUR/USD: Bears eye 1.1300 as USD rebounds amid inflation fears.”