Market Commentary

GBPUSD - Drops to the Three Month Low Near 1.28 on PM’s Brexit Deal

on May 16, 2019 | By Stuart McPhee | GBPUSD, Brexit

In the last week or so the GBPUSD has fallen sharply from the key level at 1.32 down to a three month low near 1.28. It had previously done well to rally from a two month low up to the 1.32 level before sellers jumped in and turned the sterling away strongly. It spent around six weeks or so falling lower from a nine month high near 1.34 back down to the two month low before the rally, with that medium term trend now being extended with the recent decline. There are few signs of any support presently and even if it does rally a little, it faces possible further resistance at the 1.32 level again.

United Kingdom Gross Domestic Product (GDP) q/q

on May 10, 2019 | By Stuart McPhee | GBPUSD

Today at 9:30am UK Time. UK GDP q/q is the key indicator of the national economy growth. The index shows changes in the market value of goods and services produced in the country in the given quarter compared to the previous quarter. F:0.1%, P:0.2%. #GBPUSD may test 1.32.

Market Recap: 29 April - 3 May

on May 6, 2019 | By Stuart McPhee | EURUSD, DJIA, GBPUSD, XAUUSD, US30, Gold

On Tuesday last week we covered the US30 index which spent the remainder of the week easing back towards the key level of 26000. Up until the last few days, it had all been positive news for the index, moving steadily higher pushing through the resistance at the key 26000 level and moving to a six month high above 26600. It spent a week or so consolidating a little and was receiving some support from around 26500 to keep it up near the all time high.

GBPUSD - Surges Back Above 1.30 as Brexit talks take positive turn

on May 1, 2019 | By Stuart McPhee | GBPUSD, Brexit

In the last few days the GBPUSD has been able to rally and then surge higher to get back above the 1.30 level after it has spent the last six weeks or so falling lower from a nine month high near 1.34. In the last couple of weeks it has fallen steadily lower with very little signs of support so the last few days are slightly encouraging. In early March the GBPUSD fell sharply from an eight month high back down below the key level of 1.32 before rallying again and reaching a nine month high shortly afterwards.

United Kingdom Retail Sales m/m

on April 18, 2019 | By Stuart McPhee | GBPUSD

Today at 8:30am UK Time. Retail Sales m/m show the changes in the value of retail goods sold in the UK for the given month compared to the previous one. The calculation uses season-adjusted data from British retailers. F:-0.8%, P:0.4%. #GBPUSD may test 1.32.

Market Recap: 25 - 29 March

on April 1, 2019 | By Stuart McPhee | EURUSD, USDJPY, GBPUSD, UKOil

On Tuesday last week we covered the GBPUSD which finished the week falling strongly lower to a three week low. To start out the week it was trading around the current key level of 1.32 where it spent most of the last few weeks trading around. In this same period the GBPUSD has increased in volatility but kept right around the 1.32 level, so it will be interesting to see whether it can remain within touch.

United Kingdom GDP

on March 29, 2019 | By Stuart McPhee | GBPUSD

Today at 9:30am UK Time. Gross Domestic Product q/q is the key indicator of the national economy growth. GDP growth can be seen as positive for the pound sterling. F:0.2%, P:0.2% #GBPUSD may resume range above 1.33.

GBPUSD - Remains Around Key 1.32 Level as Brexit Process Removed from PM

on March 26, 2019 | By Stuart McPhee | GBPUSD, Brexit

In the last couple of days the GBPUSD has been able to rally a little and keep within touch of the key 1.32 level where it spent most of the last few weeks trading around. In this same period the GBPUSD has increased in volatility but kept right around the 1.32 level. Several weeks ago the GBPUSD fell sharply from an eight month high back down below the key level of 1.32 before rallying again and reaching a nine month high a couple of weeks ago.

Bank of England (BoE) Interest Rate Decision

on March 21, 2019 | By Stuart McPhee | GBPUSD

Today at 12:00pm UK Time. BoE Interest Rate Decision is taken by monetary policy committee members and is published two weeks after the meeting. Interest rate growth is seen as positive for the sterling. F:0.75%, P:0.75% #GBPUSD may test support at 1.32.

Market Recap: 11 - 15 March

on March 18, 2019 | By Stuart McPhee | AUDUSD, GBPUSD, UKOil, US30

On Tuesday last week we covered the AUDUSD which spent the remainder of the week consolidating in a narrow range right above the key level of 0.7050. Just leading up to last week the AUDUSD rallied well and moved back up that level. In the last few weeks however the AUDUSD has fallen from near 0.72 down to its lowest levels in two months at 0.70 before the recent rally. For the most part in the last two months, the AUDUSD has traded within a narrow range between 0.7050 and around 0.72.

GBPUSD - Drops to the Three Month Low Near 1.28 on PM’s Brexit Deal

United Kingdom Gross Domestic Product (GDP) q/q

Market Recap: 29 April - 3 May

GBPUSD - Surges Back Above 1.30 as Brexit talks take positive turn

United Kingdom Retail Sales m/m

Market Recap: 25 - 29 March

United Kingdom GDP

GBPUSD - Remains Around Key 1.32 Level as Brexit Process Removed from PM

Bank of England (BoE) Interest Rate Decision

Market Recap: 11 - 15 March

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