|Day's Range||1.322 - 1.329|
|52 Week Range||1.2708 - 1.4377|
Investing.com – The U.S. dollar was on the backfoot Monday, pressured by a rise in safe-haven currencies on fears an escalating trade war between the United States and its trading partners could dampened global growth.
Investing.com - The dollar fell to two-week lows against the safe haven yen on Monday as a fresh escalation in tensions between the U.S. and its trading partners sparked a flight to safety.
Investing.com - The safe haven yen strengthened on Monday as a fresh escalation in trade tensions between the U.S. and other major economies hit risk appetite, while commodity linked currencies slipped lower as oil prices declined.
The bullish momentum continued through in the Friday’s session as it broke above the 1.16 level and reaching towards the 1.1650 level. The pair pulled back a little from the top as it faced significant resistance. The market from here is expected to continue driven by several factors including geopolitical tension, trade war fears etc. A break above 1.17 level will open the door towards the $1.1850 for the pair. …Read MoreGBP/USD
After the flurry of activity last week, we are now seeing some quiet trading in the pair
Investing.com - U.S. inflation data will be in focus this week with the Federal Reserve having already flagged four interest rate hikes this year. The Fed’s preferred inflation measure; the core PCE price index is due on Friday.
The British pound initially spent most of the week falling but found enough support near the 1.32 level after initially breaking it to form a massive hammer. When you look at the weekly chart, this is clearly an area where the buyers need to come in and take over to keep the uptrend going.
The British pound rallied quite nicely against the US dollar during the day on Friday, breaking above the 1.3250 level. By making a fresh, new high, it is a good sign, but at this point there is a significant amount of resistance above as well. Ultimately, we have a lot of work to do if we are going to turn things around.
Investing.com – The U.S. dollar was on track to post a weekly loss against its rivals as mixed U.S. economic data weighed on sentiment and ongoing euro strength curbed upside momentum.
The euro remained higher on Friday, as the U.S. dollar fell and trade concerns lingered. EUR/USD rose 0.26% to 1.1633 as of 11:24 AM ET (15:24 GMT) after French and German business activity in June came in higher than expected, easing concerns of a slowdown in the eurozone. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.19% to 94.36.
The pair shot higher during the yesterday’s session after reaching its major support level at 1.15 level. The British Pound shot higher during the yesterday’s session breaking above the 1.32 level and then continued towards the 1.3250 level. If it breaks above the 1.33 level, then it will be a very big development and could send the British Pound much higher.
Investing.com - The euro was steady on Friday, as the U.S. dollar fell amid trade war concerns.French and German business activity in June came in higher than expected, easing concerns of a slowdown in the eurozone.EUR/USD rose 0.57% to 1.1669 as of 5:18 AM ET (9:18 GMT) while the pound was higher, with GBP/USD rising 0.52% to 1.3308.The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.42% to 94.14.Tensions between the U.S. ...
The British pound rallied significantly during the day on Thursday, reaching above the 1.32 level comfortably, and testing the 1.3250 level as I record the video. This is in reaction to the statement out of the Bank of England being a bit more hawkish than originally anticipated. Because of this, the British pound rallied against almost everything, but I would be the first to point out that we stopped right at a major resistance barrier.
The Philly Fed report said business activity fell from 34.4 in May to 19.9 in June, its lowest since November 2016. The index’s sharpest drop since January 2014.
Bank of England kept interest rates unchanged but policy statement, dissents reveal hawkish tiltBloomberg News/LandovBank of England Gov. Mark Carney, right, speaks at a November news conference as Ben Broadbent, deputy governor for monetary policy, looks on. The British pound was one of the strongest-performing major currencies on Thursday, bouncing higher after the Bank of England’s monetary policy update.
Investing.com – The U.S. dollar gave up its early gains against its rivals following weaker Philadelphia Fed data and a rebound in sterling after the Bank of England's hawkish pivot.
Investing.com - The dollar eased after hitting the highest levels of the year on Thursday following the release of soft U.S. manufacturing data, while the pound was higher after the Bank of England laid the groundwork for an August rate hike.
Investing.com - The dollar rose to the highest levels of the year against a currency basket on Thursday, while the pound fell to seven month lows ahead of the conclusion of the Bank of England policy meeting later in the day.
GBPUSD’s recent U-turn, mainly due to three MPC members voting in favor of a rate-change, seems fueling the pair towards 1.3230-40 resistance-zone and then to the 1.3310 barrier. However, six-week long descending trend-line, at 1.3410 now, could restrict the pair’s further upside, failing to which highlights the 1.3480 and the 1.3550 resistances ahead of challenging the buyers’ strength by 200-day SMA level of 1.3600 and the 1.3610-20 region. In case if the pair can’t sustain latest pullback, the 1.3080 seems immediate support to watch ahead of observing the 1. ...
The Bank of England on Thursday left its key interest rate at 0.5%, meeting widely held expectations. "Inflation is expected to pick up by slightly more than projected in May in the near term, reflecting higher dollar oil prices and a weaker sterling exchange rate," the bank said in a statement.
Investing.com - The dollar rose to near eleven month highs against a currency basket on Thursday, supported by expectations for a faster pace of rate hikes this year, while the pound was at the lows of the year ahead of the Bank of England meeting later in the day.
The pair traded on a choppy note during the Wednesday’s session initially tried to move higher but pulled back. The market seems to be trying to form a base around the 1.1550 level using the strong support level at 1.15 level.
Traders looking to get bullish on the British pound ahead of Thursday’s Bank of England meeting might want to try taking the dollar out of the equation, analysts said. Sterling (GBPUSD) hovered around a 7-month low versus the dollar ahead of the central bank meeting, thanks in part to a nearly relentless rally by the U.S. currency that began back in April. To get around that, traders looking for a more hawkish tone from the Bank of England might look to the euro-sterling (EURGBP) pair, which is also seen as a more accurate Brexit risk barometer, analysts said.