With the GBP USD reaching oversold status on the daily chart. What's next for the Sterling?
British Pound
Fundamental and technical analysis of the British Pound/U.S. Dollar (GBP USD).
Pound/Dollar Rally Faltering; Pair Set Up for Daily Closing Price Reversal Top
After riding the wave of the weaker Dollar, the British Pound may have temporarily reached the end of its rally this morning. In light trading, the GBP USD attempted...
Forex Traders Prepare “To Go the Way of the Move”
This week’s Forex markets have been highlighted by low volume and tight ranges, leading to the formation of consolidation patterns in many of the major currencies.
U.S. Dollar Mixed after Bearish Jobs Data Report
The U.S. Dollar is trading mixed this morning showing weakness against the Japanese Yen, Swiss Franc and Euro as Forex traders absorbed employment data showing the U.S. economy added...
“Markedly High” Inflation Triggers GBP USD Surge
The GBP USD is trading higher this morning after the Bank of England raised its inflation forecast and indicated it will begin tightening monetary policy beginning in the third...
FOMC Decision Should Not Change U.S. Dollar’s Downtrend
There is not much change in the currency markets overnight ahead of the start of the Federal Open Market Committee’s two-day meeting.
U.K. Inflation Report Raises Doubts about May Rate Hike
Early speculation that the Bank of England was getting ready to hike interest rates sooner rather than later in the year took a hit overnight after the Office for...
GBP USD under Pressure Following Weekly Reversal Top
This morning the GBP USD is trading lower following last week’s spectacular closing price reversal top. Based on the short-term range of 1.5345 to 1.6400, expectations are for a...
U.K. Inflation Surge Triggers USD GBP Rally
The GBP USD jumped overnight on renewed talk of an interest rate hike by the Bank of England. Traders reacted positively to the news that the Office for National...
Euro Likely to Break to 1.3733
The Euro continued to erode following its closing price reversal top earlier in the week. Downside momentum helped drive the Euro closer to the retracement zone at 1.3732 to...
British Pound Stable after Trade Deficit Improves
The British Pound is trading a little better after a report showed the U.K. trade deficit-narrowed more than analysts expected in January led by a record surge in exports.
Interest Rates Driving Euro and British Pound Higher
The surprise this week in the Forex markets is the inability of the U.S. Dollar to attract fresh investors given the escalating problems in the Middle East and North...
Euro Rallies into Key Fibonacci Retracement Level
The Dollar fell overnight against most majors as investors continued to weigh the political situation in the Middle East and North Africa. The lack of fresh news from these...
BoE Inflation Report Squashes Bullish Pound Trader Hopes
The U.S. Dollar is trading lower against most currencies this morning with the exception of the British Pound. Earlier in the week it was reported that U.K. inflation came...
U.K. Inflation Data shifts Focus to Possible May Rate Hike
The British Pound is trading higher this morning after it was reported that annual inflation soared to 4.0 percent in January. This rate was the highest level for more...
U.K. Inflation Still Hot Topic with Bank of England
The focus this morning will be on the Bank of England policy decision. Expectations are for the BoE to leave its benchmark interest rate unchanged at 0.50%.
Aussie Dollar Ready to Roll Lower
The Australian Dollar is under pressure overnight. A new main top has been formed at 1.0200, setting up a possible retracement to 1.0033 to .9993. Yesterday’s interest rate...
Uprising in Egypt May Trigger Flight to Safety Rally into U.S. Dollar
The Euro’s closing price reversal top on Wednesday was confirmed overnight, indicating that the market may retrace back to 1.3716 to 1.3681 over the near-term. Technically the main trend...
Sentiment Shift to Risk Pressuring Dollar
The Dollar is getting hit hard this morning as trader sentiment has shifted back toward risk, forcing bullish traders to unwind flight-to-safety positions initiated late last week.
Weak U.K. Economy Could Deflate British Pound
The British Pound is trading flat to slightly higher this morning after it was reported that the U.K. economy unexpectedly contracted in the final quarter of 2010. Fourth-quarter gross...
