|Day's Range||1.248 - 1.25|
|52 Week Range||1.1477 - 1.3510|
The investment climate in June will be shaped by forces that emerged in May. Many countries began relaxing lockdowns and various activity-based alternative data, like traffic pattern, Open Table Reservations showed improvement on the margins.
Early in the summer of 2020, the British Pound is slowly growing against the USD, which is quite good after a depressing previous week. At the beginning of June, GBP/USD is mostly trading at 1.2403.
The British pound rallied a bit during the trading session on Monday, showing signs of bullish pressure yet again. We have broken above the 50 day EMA.
GBP/USD recovered higher last week on the back of a broadly weaker dollar but is seen approaching an important technical resistance level.
As we already know, I was a bit bullish on the GBP crosses, mostly on the GBP/USD. We can see that the first target has been reached. Continuation is possible.
GBP/USD breached the resistance level at 1.2350 and continues to gain upside momentum.
It’s a busy week ahead. Central banks are in action and China will be in a retaliatory mood. Then there are the stats to begin tracking once more…
The British pound rallied significantly during the week but as you can see is still very much in a downtrend.
The British pound has initially pulled back a bit during the trading session on Friday only to turn around and rally towards the 50 day EMA.
A weak dollar has dominated the major currencies this week although Sterling has struggled to benefit from it.
While the economic calendar is on the busier side, Trump’s news conference will be the main event, which is testing risk sentiment early on.
The British pound continues to go back and forth during the trading session on Thursday, as the pair has a lot of noise in this general vicinity.
GBP/USD is attempting to recover higher this week on the back of a weaker dollar, however, expectations of further monetary policy easing are weighing on the pair.
GBP/USD is trying to get back to the upside mode after yesterday’s sell-off.
The U.S Dollar is in action later today, with the weekly jobless claims and durable goods orders in focus. There’s also Trump and Beijing to consider.
The direction of the June U.S. Dollar Index into the close on Wednesday is likely to be determined by trader reaction to yesterday’s close at 98.906.
Travel shares were again having a strong day in London, but two big names in that sector, easyJet PLC and Carnival PLC, were set to get the boot from the FT100 index at the close of Wednesday trading due to what one analyst called the biggest reshuffle since 2009.
The British pound rolled over a bit during the trading session on Wednesday, from the highs of the trading session on Tuesday.
GBP/USD made a notable bullish break on Tuesday which signals further upside potential over the near-term.