Market Commentary

GBPUSD - Enjoys Strong Support from 1.30 as BOE Holds Rates

on January 31, 2020 | By Stuart McPhee | GBPUSD, Brexit

In the last few weeks or so the GBPUSD has enjoyed some solid support from the key support level of 1.30 which has allowed it to push higher and reach a two week high above 1.31 last week and again push off strongly to finish this week. In the last few weeks the 1.30 level has been under pressure as the GBPUSD eased away from a two week high above 1.32 and looked poised to move lower through 1.30 before some support kicked in which has held it up well.

GBPUSD - Enjoys Strong Support from 1.30 as Brexit Given Green Light

on January 10, 2020 | By Stuart McPhee | GBPUSD, Brexit

In the last week or so the GBPUSD has eased away from a two week high above 1.32 back down to the key support level of 1.30 where it is currently enjoying more support. It has shown some more volatility of late when it surged higher to its highest level in more than 18 months above 1.35 before falling sharply back down to the current key level of 1.30 which has been significant for the last three months.

What to Watch for in 2020

on January 3, 2020 | By Stuart McPhee | Brexit, US Federal Reserve, US Dollar, China

As much as things change, they also stay the same. 12 months ago the dominant issues in global financial markets were the trade war between China and the United States, what the United States Federal Reserve was going to do next after having lifted interest rates, and whether a Brexit deal could be done before the departure date of 29th March 2019.

Fast forward 12 months later, and we are still observing the trade war, we are closely monitoring the U.S. Federal Reserve and Brexit remains unresolved.

GBPUSD - Drops to Support at 1.30 as BOE Holds Rates Steady

on December 20, 2019 | By Stuart McPhee | GBPUSD, Brexit

In the last week the GBPUSD has fallen sharply from an 18 month high above 1.35 back down to the current key level of 1.30 which has been significant for the last two months. Only a few weeks ago the GBPUSD broke through the resistance level at 1.30 and moved to a nine month high just above 1.32, before the surge higher to start this week. For the previous six weeks or so the GBPUSD had traded in a narrow range consolidating under resistance at 1.30, which has become a level of significance, and as expected is now offering support now that the sterling has declined.

GBPUSD - Moves to Nine Month High above 1.32 Ahead of Pivotal Election

on December 12, 2019 | By Stuart McPhee | GBPUSD, Brexit

In the last week or so the GBPUSD has broken through the significant resistance level at 1.30 and moved to a nine month high just above 1.32. For the previous six weeks or so the GBPUSD had traded in a narrow range consolidating under resistance at 1.30, which has become a level of significance, and which is now likely to offer support should the sterling decline.

GBPUSD - Surges to Seven Month High above 1.31 as U.K. Election Looms

on December 6, 2019 | By Stuart McPhee | GBPUSD, Brexit

In the last two days the GBPUSD has surged through the key 1.30 level to reach its highest level in more than seven months. Given the break, the 1.30 level will be expected to provide some support should the sterling decline. Leading up to the surge for the last six weeks or so, the GBPUSD traded in a narrow range consolidating under resistance at 1.30, which has become a level of significance as a result.

GBPUSD - Settles Below 1.29 as Brexit Critics Roll On

on November 14, 2019 | By Stuart McPhee | GBPUSD, Brexit

In the last few weeks or so the GBPUSD has eased ever so slightly from its five month high just above 1.30 after smashing through the key 1.25 level which has resisted prices strongly in the last month three weeks ago. In the last few days it has settled right under 1.29 having met some resistance from around 1.30. The 1.25 level may now reverse roles and provide some support should the sterling decline from its current highs. It may also use this current consolidation period as a base for higher prices as it may look to test the resistance at 1.30.

GBPUSD - Eases Towards 1.28 after BOE Sits on Rates

on November 8, 2019 | By Stuart McPhee | GBPUSD, Brexit

In the last three weeks or so the GBPUSD has eased ever so slightly from its five-month high just above 1.30 after smashing through the key 1.25 level which has resisted prices strongly in the last month several weeks ago. The 1.25 level may now reverse roles and provide some support should the sterling decline from its current highs. It may also use this current consolidation period of trading between 1.28 and 1.30, as a base for higher prices as it may look to test any possible resistance at 1.30.

XAUUSD - Settles Around $1500 as IMF Warns on Global Growth

on November 7, 2019 | By Stuart McPhee | XAUUSD, Gold, Brexit, US Federal Reserve

In the last two months gold has settled around the current key $1500 level, moving back and forth around this level, seemingly content to not move anywhere else. In the first week of September gold fell sharply from its multi year highs above $1550 down back below the $1500 level however it has been well supported and it has kept its head about this key level, or thereabouts.

GBPUSD - Settles around 1.29 as Brexit Lingers On

on October 31, 2019 | By Stuart McPhee | GBPUSD, Brexit

In the last week or so the GBPUSD has eased ever so slightly from its five month high just above 1.30 after smashing through the key 1.25 level which has resisted prices strongly in the last month three weeks ago. The 1.25 level may now reverse roles and provide some support should the sterling decline from its current highs. It may also use this current consolidation period as a base for higher prices as it may look to test any possible resistance at 1.30. Prior to the surge higher to above 1.30, it had settled right around the 1.23 level after falling away from the key 1.25 level, where it met stiff resistance for nearly two weeks.

GBPUSD - Enjoys Strong Support from 1.30 as BOE Holds Rates

GBPUSD - Enjoys Strong Support from 1.30 as Brexit Given Green Light

What to Watch for in 2020

GBPUSD - Drops to Support at 1.30 as BOE Holds Rates Steady

GBPUSD - Moves to Nine Month High above 1.32 Ahead of Pivotal Election

GBPUSD - Surges to Seven Month High above 1.31 as U.K. Election Looms

GBPUSD - Settles Below 1.29 as Brexit Critics Roll On

GBPUSD - Eases Towards 1.28 after BOE Sits on Rates

XAUUSD - Settles Around $1500 as IMF Warns on Global Growth

GBPUSD - Settles around 1.29 as Brexit Lingers On

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