Although the GBPUSD went as low as 1.2580 today the fact that we are holding above the 1.2600 level tells us how important this level of support is for the end of the week.
The USD (DXY) has been range bound for months, and mostly this is a product of many cross currents in the markets. Equity market volatility, weakness of fundamental data globally stating to seep in, the FOMC looking to be at the end of their hike cycle, China and US trade war brewing, and the list […]
The GBPUSD looks to be in a long term consolidation that may carry us through December as the UK parliament will vote on the BREXIT deal ahead of the Christmas holiday.
Good day traders! Following Christmas and New Year holidays we have seen a new bout of dollar weakness across the board which may not be over yet based on recent price developments.
Cable is making a nice drop from the 1.3650 September high which can prove to be the start of a new bearish trend if we consider that the move higher from January of this year is most probably an ending diagonal.
The US Dollar has experienced a prolonged and material decline in 2017. The DXY index has dropped from 102.80 (2nd January) to 91.33 (8th September), which roughly represents an 11% loss.
The Bank of England’s Monetary Policy Committee met last week and there were some interesting developments. We will try to sieve through the plethora of information and pick what we think were the salient points.