GBP/USD drops further below 1.4000 as DXY soars

US Dollar continues to rally into the US session.  DXY heads for the highest close in three months.  The GBP/USD pair continued to decline on Monday and fell below previous April lows. Recently bottomed at 1.3925, the lowest since March 19. Near the end of the session it was hoverin ...

GBP/USD: bears looking for a break to the 1.37’s? – Scotiabank

Analysts at Scotiabank explained that cable traded poorly overall last week, closing out Friday at the low and forming a bearish reversal week in the process.  Key Quotes: "The GBP has made steady technical progress since the late 2016 low below 1.20 but the stall out last week coincide ...

GBP/USD: a spectacular four-cents fall from grace – Scotiabank

Analysts at Scotiabank explained that GBP’s fall from grace has been spectacular – four cents since last week’s peak in the upper-1.43s.  Key Quotes: "Most focus has been on the rollback of May BoE rate hike expectations following Gov. Carney’s comments last wee ...

GBP/USD sub-1.4000 amid the US benchamerk yields rising

Higher US treasury yields send the US dollar higher. The GBP/USD weak sentiment from last week rolls over into Monday. The GBP/USD is trading at around 1.3959 down 0.31% on Monday as the US treasury yields are at levels not seen since 2014. The cable is under pressure as last wee ...

GBP/USD interim peak at 1.4377 – Commerzbank

In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, Cable could have carved an interim top in the 1.4380 area. Key Quotes “GBP/USD’s failure to chart a weekly close above its 200 week moving average at 1.4229 has provoked a key week reversal. This in addition t ...

GBP/USD risks extra pullbacks – UOB

FX Strategists at UOB Group noted Cable could extend the downside in the near term. Key Quotes 24-hour view: “Expectation for sideways trading was wrong as GBP extended its decline and hit a low of 1.3996 last Friday. While clearly overextended, there is no sign of stabilization just yet an ...

GBP/USD fragile, puts 1.4000 to the test

Cable extends the bearish sentiment at/below 1.40. The Sterling remains vulnerable after last week’s YTD tops. UK’s Q1 GDP figures, Carney next of relevance for GBP. The selling bias around the Sterling remains well and sound at the beginning of the week and is now forcing GBP/US ...

GBP futures: downside pressure alleviated

CME Group’s preliminary figures for GBP futures markets saw open interest shrinking by almost 12K contracts on Friday vs. Thursday’s 199,246 contracts. In the same line, volume dropped by more than 18K contracts. GBP/USD support emerged at 1.40 Against the backdrop of declining price ...

GBP/USD poised for further declines, 1.3700 on sight – Goldman Sachs

Analysts at Goldman Sachs are out with the weekly technical analysis note ‘The Charts That Matter Next Week’, underscoring further falls for the GBP/USD pair below a break of the immediate support at 1.4000. Key Quotes: “It's currently testing initial support at 1.40 The are ...

GBP/USD tumbles further to 1.4040, 2-week lows

Cable faces further selling pressure around 1.4040 today. The Sterling continues to suffer the dovish tone from BOE’s Carney. The pair is down more than 3 big figures since fresh YTD tops near 1.4380. After climbing to fresh 2018 tops in the vicinity of 1.4080, GBP/USD sparked a shar ...

GBP bulls hitting the panic button? – ING

Viraj Patel, Research Analyst at ING, suggests that it appears as though GBP bulls have hit the panic button after Governor Carney made the cautious and vague statement that interest rates are likely to rise “this year.” Key Quotes “Governor Carney while (a) steering clear o ...

GBP futures: room for extra downside

CME Group’s advanced data for GBP futures markets showed open interest dropped for the second day in a row, this time by nearly 2.1K contracts on Thursday from Wednesday’s final 201,570 contracts. On the other hand, volume rose by the fourth consecutive session by more than 23 ...

GBP/USD scope for deeper pullback – UOB

Cable faces the possibility of a deeper retracement in the near term, according to FX Strategists at UOB Group. Key Quotes 24-hour view: “We expected a lower GBP yesterday but the plunge below the ‘target’ indicated at 1.4145 came as a surprise (overnight low has been 1.4069) ...