|Day's range||1.335 - 1.342|
|52-week range||1.2591 - 1.4377|
The greenback remained lower on Thursday after an unexpected dovish-tone in the latest Federal Reserve meeting minutes and news that the White House had called off a planned summit with North Korea. The White House said in a statement that it would be "inappropriate" to have a planned summit at this time. Trump and North Korea leader Kim Jong Un were set to meet in Singapore on June 12 to discuss possible denuclearization.
With the month-long symmetrical triangle restricting the EURGBP moves between 0.8720 & 0.8800, chances of the pair’s recent pullback to test 0.8720 support and take a U-turn from there are higher. GBPJPY’s break of nine-month old ascending trend-line signals the pair’s further downside to the 144.95-145.15 rest-zone but its additional south-run can be confined by oversold RSI, which if ignored can drag the pair to 143.00 support.
Investing.com - Sterling was higher on Thursday after UK retail sales came in higher than expected, boosting confidence in the economy.UK retail sales rose 1.6% in April, compared to expectations for a 0.1% gain, the Office for National Statistics reported. The unexpected increase indicates consumer confidence in the UK economy, despite political uncertainty surrounding Brexit.GBP/USD surged 0.46% to a one-day high of 1.3410 as of 4:43 AM ET (8:43 GMT).The euro was also higher, but was held back by economic and political worries in Europe. ...
The market continued to remain weak and negative during the Wednesday’s session breaking below the 1.17 level. By going below this level, the market is more likely to fall towards its next major support level at 1.15 level underneath. Short-term rallies in the market will be an excellent opportunity to sell this market as it offers value in the USD. …Read MoreGBP/USD
The British pound broke down significantly during the day on Wednesday, slicing below the 1.34 level, and driving much lower as well. I believe that the market does continue to go much lower than that, and I think at this point it’s very likely that rallies will invite more selling, as the pair simply cannot find its footing and we have broken down below a major trend line recently.
Investing.com – The dollar remained at six month highs against its rivals on Wednesday following mostly bullish data pointing to underlying strength in the U.S. economy, while a sharp decline in both the pound and euro supported upside momentum.
The greenback rose to a five month high on Wednesday, as investors look ahead to the latest meeting minutes from the Federal Reserve. Investors will be looking to the Fed meeting minutes at 2:00 PM ET (18:00 GMT) closely for any signs of tightening monetary policy. A recent increase in bond yields, along with positive economic data and rising inflation, has boosted expectations that the Federal Reserve will increase interest rates and tighten monetary policy.
The dollar climbed against most of its rivals early Wednesday, but lost ground vs. the yen as geopolitical worries spurred buying in Japan’s haven currency. Victor Reklaitis is a London-based markets writer for MarketWatch.
The British pound rallied significantly during the day on Tuesday, testing the bottom of the previous uptrend line, which should be resistance. So far, that resistance has held up, and it’s likely that the selling pressure could continue. However, we have a handful of levels we should be watching.
Investing.com – The dollar moved off session lows as the euro reversed its earlier gains amid ongoing political uncertainty in Italy, while the pound resumed its downward trend adding to dollar strength.
The dollar struggled to stay near a five-month high on Tuesday as investors look ahead to the Fed minutes. The Federal Reserve releases the latest minutes from its monetary policy meeting on Wednesday. Investors will be looking closely for any sign of tightening monetary policy.
Investing.com - The dollar pulled back from a five-month high against major rivals on Tuesday, as traders opted to take profits after the recent rally, while Forex traders focused on testimony to the UK Treasury Select Committee.
The market started off the week with a positive momentum bouncing higher from the 1.17 level which offered enough psychological support. The 1.18 level on the top is an important psychological resistance and market can witness some selling pressure from there.
The British pound fell a bit during the open on Monday, reaching down towards the 1.34 level before finding buyers. By showing the sign of support, it looks as if there is still some fight left in the buyers. However, there are major problems above.
The U.S. dollar retraced its gains late Monday after having surged to its loftiest level since late last year, as investors read the most recent development between U.S. and China as evidence of easing trade animosities.
Investing.com – The dollar eased from fresh five month highs as gains on the back of abating trade war fears were offset by a recovery in the euro from multi-month lows.
The dollar was stead as trade tensions between the U.S. and China were put on hold. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.12% to 93.69 as of 11:30 AM ET (15:30 GMT). The trade war between the U.S. and China is “on hold” as the two work on a trade agreement, U.S. Treasury Secretary Steven Mnuchin said on Sunday.
The GBP/USD went exactly as expected both on my LIVE trading webinars and FXstreet poll. It was a bit messy due to Megaphone pattern so we could have traded it both to the long and short side, but things have become more evident due to Head and Shoulders. 1.3425-35 and 1.3455-75 are POC zones, and we might expect rejections if the price retraces. A 1h or 4h close below 1.3400 could aim for 1.3353 and 1.3311 during the course of the week.
Weakness continued through the Friday’s session as the pair sliced through the 1.1775 level indicating further downward pressure in the market in coming sessions. The pair recently bounced higher but the traders are more interested in picking value in the greenback. On the weekly chart, it has broken below the bottom of a hammer from the previous week, which is an extremely negative sign and 1.15 level underneath is the hard support of this market. …Read MoreGBP/USD