GBP/USD Price Analysis: Exceeds 38.2% Fibo retracement and 200-EMA, 1.2700 eyed.

A bullish reversal has been triggered as the asset has overstepped 38.2% Fibo retracement.The asset is comfortably balancing above the 200-EMA.The RSI (14) has shifted into a 60.00-80.00 range, which adds to the upside filters. The GBP/USD pair is sensing a mild selling pressure near 1.2660 after a vertical upside move in the Asian session.Continue reading “GBP/USD Price Analysis: Exceeds 38.2% Fibo retracement and 200-EMA, 1.2700 eyed.”

GBP/USD recovers modest intraday losses, flirts with 1.2600 mark amid fresh USD selling.

GBP/USD attracted some dip-buying on.Tuesday amid renewed USD weakness.A goodish pickup in the shared currency dragged the buck to a fresh monthly low. The risk-off mood should limit losses for the greenback and cap gains for the pair. The GBP/USD pair reversed modest intraday losses and climbed to the top end of its daily tradingContinue reading “GBP/USD recovers modest intraday losses, flirts with 1.2600 mark amid fresh USD selling.”

Gold price outlook;XAU/USD soars as US dollar fall.

XAU/USD still needs to breach critical resistance for bullish view Gold prices soared almost 1.4% on Thursday in the strongest rally since early March. The anti-fiat yellow metal likely capitalized on a combination of a weaker US Dollar and falling Treasury yields. This was during a relatively quiet day in terms of economic event risk.Continue reading “Gold price outlook;XAU/USD soars as US dollar fall.”

UK Jobs Preview: Why GBP/USD may offer an early selling opportunity, and when.

 Britain is expected to report upbeat labor market figures. The effect of UK data on GBP/USD tends to be short-lived. Brexit, China’s woes and the Fed’s policies all back a downtrend in cable.The selling opportunity may come before the event, due to front-running.  How will UK job figures impact GBP/USD? I think they will likelyContinue reading “UK Jobs Preview: Why GBP/USD may offer an early selling opportunity, and when.”