GBP/USD: A push on to a 1.23 handle will underpin the positive tone.

GBP/USD’s bullish trend extends. Economists at Scotiabank expect the pair to remain well supported ahead of the weekend. Weekly settings are turning mildly bullish “The uptrend in the GBP/USD pair is well-established and enjoys the backing of solid trend momentum signals on the intraday and daily chart; weekly settings are turning mildly bullish as well.”Continue reading “GBP/USD: A push on to a 1.23 handle will underpin the positive tone.”

EUR/GBP rises toward 0.8700 amid a stronger Euro.

Euro rises on Monday on the back of hawkish comments.EUR/GBP finds support again at the 0.8570 zone. The EUR/GBP is rising sharply on Monday, boosted by a stronger Euro across the board. The cross peaked at 0.8675, hitting the highest level since Wednesday. It is hovering around 0.8560, up more than 50 pips for theContinue reading “EUR/GBP rises toward 0.8700 amid a stronger Euro.”

GBP/USD holds in mid-1.2500s despite PM Johnson’s looming confidence vote, eyes.

GBP/USD rebounded from a key area of support in the upper 1.2400s to the mid 1.2500s on Monday.Sterling is outperforming despite UK PM Johnson’s looming no-confidence vote that could unseat his premiership. The week will otherwise be quiet until Friday’s US CPI data release.Despite UK PM Boris Johnson’s looming confidence vote later on Monday eveningContinue reading “GBP/USD holds in mid-1.2500s despite PM Johnson’s looming confidence vote, eyes.”

EUR/USD Price Analysis: Sellers need validation from 13-day-old support around 1.0700.

EUR/USD extends previous day’s pullback from one-month high. Clear break of 50-day EMA, RSI retreat favor sellers.38.2% Fibonacci retracement holds the key to further advances. EUR/USD remains pressured around the intraday low, stretching Tuesday’s pullback from the monthly peak during Wednesday’s Asian session. That said, the major currency pair seesaws around 1.0730-25 by the pressContinue reading “EUR/USD Price Analysis: Sellers need validation from 13-day-old support around 1.0700.”