GBP/USD might not have the momentum to sustain a break above 1.2450/2500 .

Sterling continues to perform well and is holding onto the gains made last week. Economists at ING expect the GBP/USD pair to struggle to surpass the 1.2450/2500 area.Marked improvement in the perception of UK sovereign risk “The market now prices a 45 bps Bank of England (BoE) hike at next week’s meeting. The firming upContinue reading “GBP/USD might not have the momentum to sustain a break above 1.2450/2500 .”

EUR/USD Price Analysis: Remains consolidative below 1.0900.

EUR/USD comes under pressure but remains bolstered by 1.0800.Next on the upside emerges the key barrier at 1.0900 the figure.EUR/USD fades the initial test of the 1.0860 region and returns to the negative territory on Friday. Extra range bound mood looks likely for the time being, while the surpass of the so far YTD topContinue reading “EUR/USD Price Analysis: Remains consolidative below 1.0900.”

EUR/USD now points to some consolidation.

EUR/USD is now seen within the 1.0680-1.0880 range. Key Quotes 24-hour view: “We expected EUR to ‘trade sideways between 1.0790 and 1.0860’ yesterday. However, EUR rose briefly to 1.0869, dropped sharply to 1.0773 and closed at 1.0788 (-0.26%). The rapid decline in EUR has scope to extend but it is unlikely to break 1.0730 (thereContinue reading “EUR/USD now points to some consolidation.”

EUR/USD Price Analysis: Downside thesis gaining traction, bears hunting down 1.0770s that guard 1.0750.

EUR/USD bears are in control and eye the 38.2% Fibonacci retracement that aligns with the prior resistance near 1.0720. 1.0720 guards a deeper move into the Fibo scale and a 50% mean reversion within the scale cannot be ruled out near 1.0680.EUR/USD bears need to get below 1.0770 first. As per the start of theContinue reading “EUR/USD Price Analysis: Downside thesis gaining traction, bears hunting down 1.0770s that guard 1.0750.”