|Day's Range||1.297 - 1.308|
|52 Week Range||1.2481 - 1.4377|
The British pound rallied a bit during the week, breaking the top of the hammer from last week which set up perfectly. We did give back a bit of the gains though, which isn’t a huge surprise considering there’s so much in the way of noise.
The British pound pulled back a bit against the US dollar during the trading session on Friday as we took a bit of a breather from Sterling strength.
The pair witnessed a bit of selling from the 1.1350 level in Thursday’s session, as it reached down towards the 1.1320 level. The area above is expected to remain noisy and volatile as the resistance extends up to the 1.14 level. Short term pullbacks in the market will continue to attract a lot of attention and also the Federal Reserve’s soft attitude towards rate hike will support the pair going higher. …Read MoreGBP/USD
GBPUSD to trade range bound owing to lack of directional bias but headlines points to a possibility of the bearish breakout in near future.
A choppy start to the day sees the Aussie Dollar on a rollercoaster. The focus will be on economic data out of the Eurozone, trade talks and Brexit.
The dollar was steady and on track for its first weekly loss in a month in early trading in Europe Friday, although it had recovered most of the ground it lost Thursday in reaction to some weak numbers from the U.S. manufacturing sector.
Investing.com - The U.S. dollar edged up on Friday in Asia even after a set of weak U.S. data released overnight. The Aussie Dollar was little changed after sliding to a 10-day low yesterday.
The British pound rallied a bit during the trading session on Thursday again, as we continue to see a lot of strength in the cable pair. However, there does seem to be a bit of noise above that could cause a pullback.
Investing.com - The U.S. dollar traded near session highs Thursday, despite a slew of negative U.S. economic reports pointing to signs of slowing growth in the underlying economy.
Sterling’s price action has been erratic due to the growing sensitivity towards Brexit-related headlines and news flows. With investors clearly pessimistic over Theresa May’s trip to Brussels concluding on a positive note
The greenback recovered from its sudden fall after disappointing economic data on Thursday raised concerns about the strength of the U.S. economy and supported the Federal Reserve’s decision to hold rates steady for the foreseeable future. New orders for durable goods, excluding volatile items, fell unexpectedly in December, while business activity in the mid-Atlantic region declined to its weakest level since May 2016, according to the Philadelphia Fed's monthly survey.
The pair is currently stationed around the 1.1350 level as there are a lot of developments around the market and is also looking for clarity on the future momentum. The weak momentum around the USD is likely to support the EURO to reach higher, and if it breaks above 1.15 level, it will be extremely bullish and will attract many buyers.
GBPUSD trades range bound near 1.3050 handle as traders await macro data updates for directional cues.
Economic indicators out of Japan this week have proven to be more of an economic alarm bell than an indicator. What’s next for the BoJ?
Economic data out of Japan spells more trouble, with a particularly busy economic calendar placing focus on the EUR and USD.
Investing.com -- The euro turned higher against the dollar in early trading in Europe Thursday, as purchasing manager indices from France and Germany signalled that the euro-zone economy may be bottoming out after its slowdown at the end of 2018.
The British pound pulled back during the trading session on Wednesday, as we got a bit of profit taking going into the session. At this point, we are starting to press some minor resistance but with the impulsive candle stick that we formed during the Tuesday session, we clearly have quite a bit of momentum for buyers.
Investing.com - The greenback was flat on Wednesday, as investors waited for the Federal Reserve to release the minutes from its latest monetary meeting.
Brexit optimism keeps the pair range bound near previous session highs as investors await further headlines from Brussels and fed meeting minutes for directional cues.
The Euro initially pulled back during Tuesday’s session but received strong support around the 1.13 area, which helped to rally higher. The pair is likely to continue its long-term consolidation which now ranges between the 1.12 and 1.15 level. If the pair can clear above the 1.1350 level, then it will be a bit positive for the market and could reach another 100 pips higher. …Read MoreGBP/USD
Trade data out of Japan suggests more doom and gloom as trade negotiations. Brexit chatter and the FED minutes will be in focus through the day.
Investing.com -- The dollar was lower against the euro and the British pound in early trading in Europe Wednesday as a fall in U.S. Treasury yields reduced its attractiveness amid expectations of dovish news on interest rates from the Federal Reserve.