Posts Tagged ‘GBP/USD’

Brexit Worries Drive Sterling to a Six-week Low Against the Euro

Monday, September 26th, 2016

Sterling slipped to a five-week low against the euro on Monday (September 26), as lingering worries over the economic impact of Britain’s impending exit from the European Union weighed on the currency.

The pound also traded close to a five-week low against the dollar at $1.2985, leaving it less than two cents away from the three-decade low below $1.28 it plumbed in the wake of June’s Brexit vote.

After hitting that low in July, sterling gained 5 percent versus the dollar by early September, as data showed the post-referendum economy holding up better than had been feared. But with parliament back from its summer recess, Brexit worries have come back into investors’ radar and have dampened appetite for the currency.

(more…)

Sterling Near a Three-week High as Brexit Worries Ease

Thursday, August 25th, 2016

Sterling traded close to a three-week high against the dollar on Thursday (August 25) and was on track for its best week in six, with worries over the economic impact of Britain’s vote to leave the European Union easing a little after recent better-than-expected data.

The pound was also on track for its best week in six weeks against the euro, having hit a two-week high against the single currency on Wednesday (August 24).

Short positions on sterling had reached a record high of 94,238 contracts in the week to August 16, and traders said many speculators had this week been unwinding bets and booking profits, which had helped lift the currency.

(more…)

Bearish Pound Positions at Record High Before Bank of England Rate Decision

Tuesday, August 2nd, 2016

Speculators that are the most bearish on sterling in nearly 25 years may be vindicated by a report published on Monday (August 1) showing Brexit is probably hitting Britain harder than markets previously envisaged.

Sterling declined versus most of its 16 major peers as the data showed UK manufacturing shrank more than initially forecast in July.

Hedge funds and other large speculators ran the biggest net short positions, or bets on the currency’s decline, since records began amid speculation that the Bank of England will cut interest rates for the first time in more than seven years on Thursday, August 4 to head off the risk of recession.

(more…)

Sterling continue up-trend against USD

Thursday, August 19th, 2010

Sterling Pound against US Dollar is now in an up-trend after bottoming at 1.4425. How long will it continue? Let us look at the latest currency graph for GBP/USD.

GBP against USD, daily graph

Current intraday support levels are at 1.5589 and 1.5710, while weekly resistance levels are at 1.6460 and 1.70. It’s no secret that many analysts expect Sterling to rise against the dollar. If the US economy continue to show poor statistics, we believe GBP will rise sooner rather then later.

What do you think about the latest strength for GBP? Will it continue or break down?

Sterling Drops Against Dollar

Wednesday, August 11th, 2010

After reaching 6 month high last week, pound sterling is now falling to it’s lowest lever in more than a week. Reason: Data signals Britain is not recovering as quick as expected.

Housing market slows down

The first decline in property prices appeared in July, showing a slower sales growth then previous months. Sterling fell to $1.5740 in London afternoon trading hours.

Analysts such as John Hydeskov, Danske Bank, believe Sterling is overbought and should have a correction. He suggest buying Norwegian krone instead..

Tories + Lib Dem victory make sterling rise?

Tuesday, May 11th, 2010

tories-lib-democrats-forex
After a few days of discussions, many observers believe Tories and Liberal Democrats are forming a coalition government in United Kingdom. Currency analysts are now relieved that Gordon Brown seems to step down as Labours leader from September this year.

The new government are likely to cut borrowing sooner then a Labour government would and in general, it should do well for the economy and the british currency. Forex analysts already predict a hung parliment between conservatives and liberal democrats and they seem to like it – pound sterling rose by almost 1 % today. Interest rates (more…)

Pound Sterling heading upwards against USD?

Friday, April 2nd, 2010

The pound sterling has been declining during most of this year, but maybe we are about to see a turning point now?

As you can see in the GBP minute graph, the Pound Sterling have been increasing against US Dollar before Easter holidays starts.
2-april-gbp-usd

In the longer forex charts for GBP/USD, it looks like the GBP (more…)