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GBP technical analysis against USD JPY and EUR

September 26, 2016 6:53 PM
The GBP/USD has finally found some support today, though it is too early to say whether the selling pressure is over just yet. There hasn’t been any real news out to support the pound. If anything, news out of the UK has been actually bearish. For example, a survey of 100 business leaders by accountancy firm KPMG has shown that the vast majority wou...

GBP/USD braces for BoE, Fed

September 14, 2016 9:40 PM
Key economic data releases this week out of the UK in the run-up to Thursday’s Bank of England (BoE) rate decision have been lackluster, but the widespread expectation continues to be that the central bank will hold rates steady after cutting by 25 basis points last month to a record low 0.25% on post-Brexit economic concerns.

Contrast in UK/US economic data boosts GBP/USD recovery

September 6, 2016 6:20 PM
A trio of significantly better-than-expected purchasing managers’ index (PMI) readings out of the UK late last week and on Monday came in quick succession. Manufacturing PMI for August came in at a 53.3 expansion level against prior expectations of a 49.1 contraction. Construction PMI was still in contraction at 49.2, but better than the 46.6 expect...

GBP/USD: Cable could snap back to reality

August 25, 2016 12:22 PM
The recent improvement in UK data has seen many investors and analysts, ourselves included, ask a rhetorical question with a hint of sarcasm “Brexit, what Brexit?” Traders have apparently reduced their net short positions from record high levels as they realised the fallout in the immediate aftermath of Brexit was not as bad as many had feared. Gran...

GBP/USD shows signs of life

August 22, 2016 1:09 PM
The GBP/USD ended higher last week on the back of surprisingly stronger-than-expected UK economic data and as the dollar eased along with expectations about an imminent rate hike in the US. But the Cable did sell off heavily on Friday, which took some shine off the week’s rally.