|Day's range||1.301 - 1.301|
|52-week range||1.1959 - 1.3510|
The British pound went back and forth during the course of the week, as we get a lot of push back and forth from both buyers and sellers. The Friday session had a very poor retail sales figure release, and that of course weighed upon the market.
The British pound pulled back after initially trying to rally during Friday as the retail sales numbers were miserable in the United Kingdom. That being said, we are still very much in an uptrend and it will be interesting to see whether or not we can continue.
Retails sales in the UK were much worse than analysts expected, fueling rate cut expectations and putting Sterling under pressure.
GBP/USD showed a bullish bounce at the 88.6% Fibonacci retracement level and also made a bullish breakout above the resistance trend line
The British pound is steady, but could receive a boost if retail sales delivers a solid gain (release on Friday at 9:30 GMT). The story of the week has been the Chinese yuan, which has climbed to a 7-month high against the U.S. dollar.
The British pound rallied a bit during the trading session on Thursday in order to break above the gap that had formed at the beginning of the week. Now that that gap has been filled, it becomes a question as to whether or not it will hold.
With significant downside risks to the global economy turned aside, and worries over a possible recession diminishing, there is a sprouting belief supported by evidentiary proof in the data that global growth could gain momentum over the coming months.
The pound has remained steady this week, despite some dismal economic data. GDP declined by 0.3% in November and inflation slowed to 1.3% in December. If the soft economic numbers keep coming, the pound could find itself in 1.29 territory in a hurry.
The British pound initially fell during the trading session on Wednesday, but then turned around to show signs of support. The 50 day EMA is an area that causes a lot of attention as well.
GBP/USD attempted a recovery a Tuesday but has fallen under pressure once again after BoE’s Saunders discussed easing policy.
There were very mixed headlines to start the day. US drafting rules to block more sale to Huawei while China vows to punish firms who infringe on trade secrets, according to the New York Times. But I think after two years of trade war noise, hopefully the markets have learned to take all the bluster with a grain if not a barrel of salt.
The British pound has fallen initially during the trading session on Tuesday but have also turned around to show signs of support again. That being the case, you should pay attention to the 50 day EMA which is looking very likely to offer interest by traders.
Today, we will analyze the technical situation on three currency indexes. Analyzing an index is a great option to check the general sentiment towards one particular currency. We can later use it to trade many other interesting instruments.
The British pound is been under pressure in the early week after a weak GDP reading on Monday, however, the pair has not made a clear break of notable support.
GBP/USD is testing the Fibonacci retracement support levels of wave C, which is a key decision zone for a bullish reversal or bearish breakout.
The pound has clawed its way back above the 1.30 line. Still, this week’s soft GDP release underscores a weak British economy, which could dampen investor sentiment towards the pound.
The Middle East crisis continued to escalate in the first half of last week. But then the fears have diminished and investors were awaiting Friday’s monthly jobs data release. Will the coming week bring some interesting news events? Let’s take a look at the details.
China’s trade surplus widens ahead of tomorrow’s signing. It remains to be seen whether the numbers will catch the President’s eye…
The British pound has broken a bit lower to kick off the trading session on Monday, after GDP figures were lower than anticipated. That being the case, it’s likely that the market will continue to find support just below.