GBP/USD could drop and test the 1.2900 area – Scotiabank

According to FX Strategists at Scotiabank, Cable stays bearish and could slip back to the 1.2900 neighbourhood in the near term. Key Quotes “Sterling has traded sideways over the past 24 hours around the 1.3150/70 area but retains a weak technical undertone”. “Technical signal ...

GBP/USD: How low? – Rabobank

Jane Foley, Senior FX Strategist at Rabobank, suggests that they see risk that cable will trade below the GBP/USD1.30 in the coming months and their end of year forecast is GBP/USD1.28. Key Quotes “Based on the hope that Brexit would bring some clarity on the political front, we hav ...

GBP/USD moves to session tops, closer to 1.3200 handle

   •  Brexit uncertainty keeps a lid on any meaningful recovery.    •  Persistent USD buying further contributes towards capping gains. The GBP/USD pair managed to recover around 40-pips from fresh YTD lows, albeit struggled to build on the momentum an ...

GBP/USD sticks to the bearish view – UOB

Cable keeps the bearish outlook intact in the near term, according to FX Strategists at UOB Group. Key Quotes 24-hour view: “While the sharp decline in GBP to an overnight low of 1.3151 appears to be running ahead of itself, there is no sign of stabilization just yet. From here, a dip belo ...

GBP/USD in 2018 lows near 1.3150 ahead of key vote

Cable is prolonging the breach of the 1.3100 support. The Sterling remains under pressure on Brexit woes. Cable will stay vigilant on EU withdrawal bill vote due later. The British Pound remains under pressure on Wednesday and is dragging GBP/USD to the area of 1.3160, where it is looking t ...

GBP futures: further weakness likely

CME Group’s advanced figures for GBP futures markets showed open interest rose by around 8.5K contracts on Tuesday from Monday’s final 243,004 contracts. In the same direction, volume rose by almost 35.7K contracts. GBP/USD eyes on 1.3040 Cable is prolonging its decline today, while th ...

GBP/USD now focused on 1.3040 – Commerzbank

In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, Cable remains on the defensive and could test the 1.3040 area. Key Quotes “GBP/USD has sold off into new lows for the year and remains on course for the 1.3040 October 2017 low. Between here and the 50% retracement a ...

FX option expiries for June 20 NY cut

FX option expiries for June 20 NY cut at 10:00 Eastern Time, via DTCC, can be found below. - GBP/USD: 1.3275 (GBP 234m). - USD/JPY: 109.00 (USD 570m), 110.00 (540m), 110.45 (602m), 110.65 (366m), 110.75 (660m), 111.00 (897m). - NZD/USD: 0.6910 (NZD 452m). - EUR/GBP: 0.8730 (EU ...

GBP/USD continues to drip towards 1.30 with a quiet day ahead

The Sterling remains near recent bottoms as market sentiment fails to spark. Thursday's BoE rate decision likely to keep traders on the sidelines for today. The GBP/USD is trading close to the downside in early Wednesday action, testing into 1.3160 ahead of a quiet London session. Th ...

GBP/USD consolidates daily losses below 1.32

GBP/USD looks to end the day below 1.32 for the first time this year. US Dollar Index fails to break above 95. Risk appetite remains weak on Tuesday. The GBP/USD pair slumped to its worst level since November of 2017 at 1.3150 in the early NA session and went into a consolidation phase. As o ...