EUR/GBP clings to gains above 0.8450 as Brexit woes cloud the GBP again

BoE's Chief Economist Huw Pill: Inflation in the UK could top 5%. Brexit: The EU could terminate the post-Brexit trade deal with the UK. EUR/GBP: The 1-hour chart depicts the pair is tilted to the upside, confirmed by RSI at 63.50 and aiming higher. The EUR/GBP edges higher as the...
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BTC to GBP Outlook: Some Profit-Taking Sends Pair Down on Friday

Following the attainment of new record highs on Wednesday, some profit-taking is now in progress as the BTC to GBP pair loses 1.91% as of writing. The previous day’s price action saw the pair shed 5.41% after the early birds opted to cash out some positions in the uptrend. The...
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EUR/USD Eyeing Former YTD Low, EUR/GBP Maintains Range, EU PMIs Mixed

Mixed Eurozone PMIs as Supply Chain Disurptions Remain a Key Issue. EUR/GBP Bounces Off Weekly Low as BoE Tightening Bets Recede. PMI Recap: French October manufacturing PMI fell short of expectations at 53.5 vs 54 expected as supply chain issues remained a key feature once again. However, the services figure had been slightly better than consensus at 56.6 vs 55.5 expected with the composite reading matching consensus. Meanwhile, German PMIs saw a miss on the services front, with the manufacturing PMI coming ahead of expectations. Overall, Eurozone PMIs were slightly better than expected but not much in it.

GBP Slides Following Brexit Trade Deal Worries — The pound sterling weakened late in Friday's session after Bloomberg reported that the European Union could terminate the post-Brexit trade deal if the U.K.'s disagreement on the Northern Ireland border deepens. The U.K. has spoken of suspending the Northern Ireland Protocol, which governs trade between Northern Ireland and...

GBP/USD Slips to 1.3800 amid Dismal UK Retail Sales, PMI Surprises

UK Office for National Statistics revealed that headline sales fell by 0.2 percent in September, which was unexpected. Headline seasonally adjusted IHS Markit / CIPS Flash UK Composite Output Index was 56.8 in October, up from 54.9 in September. Seasonally adjusted IHS Markit/CIPS Flash UK Services PMI Business Activity Index...

GBP EUR Steady at Highs but Inflation Still a Risk

The GBP EUR exchange rate was unchanged on Thursday as traders considered the latest inflation reading. A slightly lower number took the steam out of the rate rise talk but higher numbers are inevitable later. There was also a warning of energy prices rising in the UK for another 18...

US Dollar Technical Setups: DXY, USD/CAD & GBP/USD Levels

Bottom line: Out outlook remains unchanged- while the risk remains for a near-term pullback, the broader focus remains higher while above the yearly open a 1.3646 with a topside breach above the September high-close at 1.3865 still needed to fuel the next leg higher in price. Review my latest Sterling Weekly Price Outlook for a look at the longer-term GBP/USD technical trade levels.

GBP/USD And GBP/AUD Analysis - Friday, Oct. 22

GBPUSD is slow and sideways, ideally trapped in a corrective triangle if current 1.3771 support will hold. The deeper support to watch is at 1.3706 and 1.3741 where the pair may also stabilize. So we will expect a continuation higher at some point. Image Source: Unsplash. Cable is nicely recovering...

Chart Art: A Closer Look at GBP/JPY and GBP/CHF’s Uptrends

Let’s finish the week strong by taking a closer look at GBP/CHF’s uptrend and GBP/JPY’s potential reversal. Earlier this month, we checked out GBP/CHF’s downtrend for entry opportunities. But that was a few weeks ago. That’s a bajillion years in forex world! GBP/CHF is now trading in an uptrend, yo!

GBP/USD forecast as BOE chief economist issues warning on inflation

The GBP/USD pair has been in a strong bullish trend lately. The pair is hovering near its highest level since September. BOE chief economist warned that inflation could rise to 5.0%. The GBP/USD price is hovering near the highest level since mid-September after the Bank of England (BOE) chief economist...