GBP/USD losses momentum and slides back under 1.3000

Pound erases gains, retreats finding support at 1.2965.  Cable remains sideways amid Brexit comments, close to weekly lows.  The GBP/USD pulled back after the beginning of the US session and erase most of the day’s gains. If dropped below 1.3000 and fell to 1.2965. As of writin ...

GBP/USD could face further weakness near term – Scotiabank

In opinion of FX Strategists at Scotiabank, Cable remains poised for further weakness in the short-term horizon. Key Quotes “The CBI’s Business Optimism index slumped to -16 this month (from -3 in Sep, the lowest in three years, ) and manufacturing orders continued to slide (-6) ...

EU willing to offer May a UK-wide customs arrangement – RTÉ News

According to the latest headlines floating on the wires, via RTÉ News, the EU will offer British Prime Theresa May a UK-wide customs union as a way around the Irish backstop issue, but it will have to be negotiated beyond the Withdrawal Agreement as a separate treaty. The news triggered ...

GBP/USD: attempted recovery stalls near 1.30 handle

   •  Renewed USD selling helps stage a modest rebound from 2-1/2 week lows.     •  Brexit uncertainties might continue to keep a lid on any meaningful up-move. The GBP/USD pair held on to its recovery gains through the mid-European session, albei ...

GBP/USD still focused on 1.2920/25 – Commerzbank

Cable’s attention remains on a potential test of 1.2920/25 in the near term, said FX Strategists at UOB Group. Key Quotes 24-hour view: “Expectation for sideway trading was clearly wrong as GBP plummeted and cracked the major 1.3000 support before ending the day not far above th ...

GBP/USD room for a test of 1.2924/05 – Commerzbank

Recent price action in Cable prompts markets to look to the 1.2924/05 area, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes “GBP/USD has eroded its 55 day ma and support line and in doing so tipped the market into bearish mode. The market recently failed a ...

GBP futures: neutral so far, further decline not ruled out

In light of CME Group’s preliminary data for GBP futures markets, investors added more than 5K contracts to their open interest positions at the beginning of the week vs. Friday’s final 216,471 contracts. On the other hand, volume dropped for the second session in a row by around 5.7 ...

GBP/USD on the wrong side of 1.3000 as Brexit angst returns to the fold

Cable traders are getting pushed to the ropes as months of Brexit grandstanding and headline driving looks set to fall apart. A thin economic docket for Tuesday will see Brexit coverage remain front and center. The GBP/USD is trading into 1.2960 ahead of Tuesday's London market sessio ...

GBP/USD now focused on 1.2925/20 – UOB

FX Strategists at UOB Group noted that a break below 1.30 could lead to a test of the 1.2925/20 band. Key Quotes 24-hour view: “The anticipated break of the major 1.3000 support did not materialize as GBP rebounded off a low of 1.3012. The recent downward pressure has clearly eased and GB ...