Tag: GBPUSD

February 20, 2024 BY PureContent

Weekly data: Gold and GBPUSD. What's the short-term outlook?

The most important economic data for this week: Tuesday: RBA meeting minutes at 12:30 AM GMT are anticipated by the market participants to give a glimpse of the short-term action plan of the Reserve Bank of Australia. More dovish commenting might be seen as a weakness of the Aussie Dollar, creating some minor push on…

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July 17, 2023 BY Steffy Bogdanova

Weekly data: GBPUSD & USOIL price action

On the technical side, the price on the chart is currently in a correction status after reaching a yearly high of around $1.31. The Stochastic oscillator is in the extreme overbought levels for the last 10 sessions  indicating that a correction to the downside might still have some more power into it. On the other…

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July 11, 2023 BY Steffy Bogdanova

Weekly data: GBPUSD & USOIL price action

On the technical side, the price on the chart has been making consistent gains since early March with multiple retests to break the upward trendline without being able to do so. This shows the strength of the quid against the dollar in the medium outlook. The 50 day moving average is still trading bove the…

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June 27, 2023 BY Steffy Bogdanova

Weekly data: GBPUSD & gold price action

GBPUSD, daily The negative Claimant change on the 13th as well as the decline in unemployment figures in the United Kingdom had a positive effect on the quid against the dollar while the pausing of the Fed on the 14th had also contributed to the gains seen on the daily chart of the cable pair.…

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May 15, 2023 BY Steffy Bogdanova

Weekly data: GBPUSD & USOIL action before GDP data

On the technical side, the price on the cable chart has found resistance on the upper band of the Bollinger bands and has since corrected to the downside, with today's candlestick ticking to the upside at the time of this report. The 50 SMA has crossed is still trading well above the 100 SMA, indicating…

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October 11, 2022 BY Steffy Bogdanova

Weekly data: British GDP and balance of trade ahead of US CPI

TA would traditionally suggest an ongoing movement lower with there being no overbought signals from either the slow stochastic or Bollinger Bands and a fairly clear rejection around $1.15. The medium-term target might be 27 September’s closing low slightly above $1.07. However, the liveliness and duration of the dollar’s uptrend so far this year might…

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