GBP/USD: The outlook for Cable is looking uncertain [Video]
The outlook for Cable has become rather uncertain in the past couple of weeks. Breaking down below 1.3000 lost the bulls their control. However, the support subsequently formed at 1.2670 suggested that there was no decisive drive to turn Cable bearish yet though. As the market has fluctuated between 1.2670/1.3000 we see a neutralised outlook. Failure to hold back above 1.2860 in the last two sessions leaves the market in balance. Improving momentum signals are just beginning to tail off again as Cable has ticked lower today. The hourly chart shows initial support at 1.2820 and a move back under opens 1.2775 initially, but would then develop into 1.2670 again. With so much politics to swing both sterling and the dollar in the coming weeks, now wonder the outlook for Cable is looking so uncertain. Initial resistance at 1.2900/1.2925. Read More…
GBP/USD Forecast: Sterling set to lose 1.28 after ugly US debate, rising Brexit uncertainty
“When the stakes were that high, the debate couldn’t have been lower” – the words of CBS political analyst John Dickerson summarize an ugly clash between President Donald Trump and challenger Joe Biden. Politics can be nasty everywhere, but it became worse than that.
For markets, the 90-minute televised debate turned from ugly and chaotic to ominous for the fate of the world’s strongest country and largest economy. President Trump refused to say if he would accept the election results and also seemed to encourage a white supremacist group. Read More…
GBP/USD analysis: Supported by 100– and 200-hour SMAs
Yesterday, the GBP/USD exchange rate traded sideways near the monthly S2 at 1.2835.
It is likely that the currency pair could gain support from the 100– and 200-hour moving averages in the 1.2800 area. Thus, the pair could re-test the upper boundary of the medium-term descending channel circa 1.2950.
In the meantime, the exchange rate could face the resistance provided by the 55-hour moving average near 1.2850. Thus, the rate could trade downwards in the short term. Read More…