New FX forecasts have been released by investment bank Morgan Stanley.
“While prices remain trapped in their current range, we are getting to a window of opportunity for a breakout to develop, so we are watching price action closely today," says Lloyd’s Bank’s Robin Wilkins.
In a contrast to the general view that the Dollar is going to continue rising and that the Pound is doomed, Nordea Markets' Aurelijia Augulyte is retaining a bullish GBP/USD stance.
GBP/USD continues exerting pressure on 1.2415 where both the 50-day moving average and the monthly pivot are situated and provide a tough barrier of support limiting further declines.
Our technical bias on the GBP/USD has been reinforced following the release of CPI inflation data out of the United States in the mid-week session.
The GBP/USD pair is oscillating within a range between 1.2000 and 1.2800.
GBP/USD continues to oscillate within a range established since the recovery from the October 2016 lows.
GBP/USD is one of the most overvalued currencies in the G10, according to research citing two models who says as much by Canadian lender TD Securities.
The Pound got off to a shaky start on Tuesday morning and we think this may have something to do with surprisingly poor Retail Sales data, which brought into doubt the resilience of the economy post-Brexit referendum.
The UK will have two years to negotiate its withdrawal from the EU once the government triggers Article 50.
The Pound and Dollar are wrestling in a range although delays to Trump’s policy reforms have most recently handed Sterling the advantage by slowing the Dollar’s ascent.
The release of Non-Farm Payrolls (NFPs) elicited little reaction from the Dollar on Friday.
Recent figures from the Bank of England (BOE) showed a sharp decline in Gilt purchases by foreign investors in December, which was probably a function of the stronger Pound.
The GBP/USD pair has reached a critical inflection point in the trend where a resumption of the short-term higher is favoured, but there is also a possibility of a break lower.
TD Securities have dropped their call for a rate cut in Q4 2017 saying that improved economic data and a less dovish monetary policy outlook in the UK now mean the odds of a hike or cut are evenly balanced.
Cable has extended its uptrend and is in the process of forming what could be a high probability continuation pattern which could signal even more upside into the 1.27s.
The GBP/USD pair is expected to continue its recovery higher following Donald Trump’s inauguration speech which was heavy on protectionism and light on infrastructure.
The Pound fell on news that shoppers tightened their belts in December.
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