Daily Pivots: (S1) 1.2340; (P) 1.2408; (R1) 1.2466;
Intraday bias in GBP/USD remains neutral for the moment. On the downside, break of 1.2144 minor support will suggest completion of the rebound from 1.1409 and turn bias to the downside for retesting 1.1409 low. On the upside, sustained break of 61.
Euro Maintains Declines Amid A Strong USD
The euro currency is down another 0.8% on the day. The declines could likely see a move to the lower support level at 1.0787.
There is scope for a modest rebound ahead of the decline to the support level. However, the resistance level at 1.1030 will be comin
CME Group’s preliminary data for GBP futures markets noted investors reversed seven consecutive daily pullbacks and rose by just 592 contracts on Thursday. In the same line, volume prolonged the erratic performance and rose by only 506 contracts.
GBP/USD remains consolidative below 1.2500
Cable is e
GBP/USD struggles to remain strong beyond 21-day SMA.
61.8% Fibonacci retracement, 200-day SMA guard immediate upside.
1.2130 holds the key to pair’s declines towards 1.2000 mark.
GBP/USD remains mildly changes to 1.2420 during Wednesday’s Asian session. That said, the pair struggles to carry its s
The dollar has traded firmer for a second day, rebounding from recent underperformance, which was a reflection of the Fed's aggressive actions to satiate demand for dollars. More broadly, global markets have settled in what are comparatively narrowly ranges by recent standards. The pound is showing
Markets are generally directionless in Asian session today. Strong rebound in China PMIs somewhat fails to lift sentiments. As the origin of the coronavirus pandemic, China could be the first country to come out of it. Yet, one month of data is insufficient to confirm recovery, as the world is still
Daily Pivots: (S1) 1.2332; (P) 1.2399; (R1) 1.2482;
With 4 hour MACD crossed below signal line, intraday bias in GBP/USD turned neutral first. On the downside, break of 1.2144 minor support will suggest completion of the rebound from 1.1409 and turn bias to the downside for retesting 1.1409 low. On