GBP/USD analysis: Fresh bears face headwinds at 1.40 support
Cable extended Wednesday’s 0.64% fall and fell ticks ahead of psychological 1.40 support on Thursday. Fresh risk aversion on upbeat US inflation figures that fueled a fall in global equities, weighs heavily on risk sensitive pound. Bids at 1.40 zone (psychological/former multiple upside rejections / a number of option expiries) provided headwinds to fresh bears, keeping the price action above 1.40 for now, with softer dollar after better than expected US weekly jobless claims, contributing to support. Read more…
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GBP/USD Forecast: Tensions mount on post-Brexit rules for financial services
The GBP/USD pair extended its weekly decline to 1.4005 on the back of the persistent dollar’s demand, trimming most of its early losses ahead of the close to settle around 1.4040. The UK had a scarce macroeconomic calendar, as it only published the April RICS Housing Price Balance, which rose 75%, much better than the 62% expected. Read more…
GBP/USD analysis: Ends sideways trading
The release of the US Consumer Price Index caused two hours of high volatility during the mid-day of Wednesday. It was followed up by a decline. By the middle of Thursday’s trading, the rate had passed the support of the 100-hour simple moving average at 1.4078 and the weekly R1 simple pivot point at 1.4064. Read more…
