Analytics

GBP/USD: Correction completed? Biden, Brexit, and US COVID-19 cases may cause further falls

July 10, 2020 Off

GBP/USD has corrected lower amid US coronavirus concerns Biden’s comments. Brexit, UK fiscal stimulus, and new COVID-19 statistics are in play. Friday’s four-hour chart is showing that the currency pair exited overbought conditions. After one step back, will sterling take two forward? GBP/USD came out of overbought conditions and dropped due to two US factors.…

By admin-445

GBP/USD: Appetite for more gains after Sunak’s meal deal, investors ignoring coronavirus, Brexit

July 9, 2020 Off

GBP/USD has been advancing amid the new fiscal stimulus plan and the upbeat market mood. Concerns about coronavirus, Brexit, and the US labor market may slow sterling’s advance.  Thursday’s four-hour chart is pointing to overbought conditions. “Meal Deal, not a New Deal” – the opposition’s criticism against the scheme to grant a £10 voucher for…

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EUR/USD: Vulnerable on worrying Wednesday amid the euro-fudge, uptrend support at risk

July 8, 2020 Off

EUR/USD has been unable to rise amid uncertainty about eurozone fiscal and monetary support.  US coronavirus cases tend to rise on Wednesdays, potentially dampening the mood. Wednesday’s four-hour chart is showing uptrend support is getting close. A one-two punch against EUR/USD? The world’s most popular currency pair failed to recover – despite an improvement in…

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EUR/USD: Ready to resume its rise? Euro showing resilience alongside uptrend support

July 8, 2020 Off

EUR/USD has been edging lower amid coronavirus and geopolitical concerns.  Uncertainty about EU fiscal stimulus and US COVID-19 statistics are eyed. Wednesday’s four-hour chart is showing uptrend support underpinning the pair. Is the downside correction over? The common currency has been giving some ground as stocks retreated and the dollar clawed back some of its…

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GBP/USD: Will Sunak send sterling higher? Brexit, Hong Kong, US coronavirus could cap climb

July 8, 2020 Off

GBP/USD has been rising amid hopes for UK fiscal stimulus and high-level Brexit talks. Chancellor Sunak’s speech, US coronavirus figures, and geopolitical tensions around HongKong are eyed.  Wednesday’s four-hour chart is painting a bullish picture.  Sunak is starting with the young – a job placement plan for around 350,000 18-24 year-olds is at the center…

By admin-445

GBP/USD: Boris’ careless care home comment, weak stimulus, downtrend resistance, all point down

July 7, 2020 Off

GBP/USD is under pressure as global markets curb their enthusiasm. The UK government’s lackluster green stimulus and PM Johnson’s latest comments are weighing on the pound. Tuesday’s four-hour chart is showing that cable is capped under downtrend resistance.  “Too many care homes didn’t really follow the procedures in the way that they could have” –…

By admin-445