Re: GBP news
61I too think it will reach 1.3000 at some point (probably soon), but beyond that it's unclear.
Re: GBP news
62Amid the growing uncertainty of a hard Brexit just a month away traders are pulling away from the British Pound, because of the increased volatility of the currency.
And that is felt not only with the value of the pound, but also with the trading volume. Once the second most traded currency pair, now the GBPUSD trading volume has gradually shrunk to record low.
For the six months ended in October 2018 the average daily trade volume of USDGBP has shrunk to 324 billion USD from 351 billion USD in the previous six months that ended in April 2018., recent Bank of England data shows.
And that is felt not only with the value of the pound, but also with the trading volume. Once the second most traded currency pair, now the GBPUSD trading volume has gradually shrunk to record low.
For the six months ended in October 2018 the average daily trade volume of USDGBP has shrunk to 324 billion USD from 351 billion USD in the previous six months that ended in April 2018., recent Bank of England data shows.
A prayer for Brexit
63A prayer for Brexit - Church of England spiritual leader to plead for unity
LONDON (Reuters) - The spiritual leader of the Church of England may lead five days of prayer with other Churches after Britain’s March 29 exit from the European Union in an attempt to ease Brexit divisions, The Sunday Times reported.
The 2016 Brexit referendum showed a United Kingdom divided about much more than the European Union, and has fuelled soul-searching about everything from secession and immigration to capitalism, empire and modern Britishness.
Under plans discussed by the Church of England, Archbishop of Canterbury Justin Welby wants to pray in public with the leaders of the Catholic, Methodist, Baptist and United Reformed churches on the day after Britain leaves.
“I would hope that it will resonate with the wider nation, that this is the time for turning to something deeper in the human spirit than legal arguments and philosophical discussions, and to seek wisdom from God,” a senior Church of England source was quoted as telling the newspaper.
With the clock ticking down to March 29, the date set in law for Britain to leave the EU, the United Kingdom is in the deepest political crisis in half a century as it grapples with how, or even whether, to exit the European project it joined in 1973.
The Sunday Times said Prime Minister Theresa May, an Anglican, and Labour Party leader Jeremy Corbyn are being sounded out to join them.
Queen Elizabeth in January sent a delicately coded message to Britain’s factious political class over Brexit, urging MPs to seek common ground and grasp the big picture to resolve the crisis.
https://www.reuters.com/article/uk-brit ... SKCN1QD08I
conclusion: The last approach for brexit: Cross your fingers Dude, cross your finger
LONDON (Reuters) - The spiritual leader of the Church of England may lead five days of prayer with other Churches after Britain’s March 29 exit from the European Union in an attempt to ease Brexit divisions, The Sunday Times reported.
The 2016 Brexit referendum showed a United Kingdom divided about much more than the European Union, and has fuelled soul-searching about everything from secession and immigration to capitalism, empire and modern Britishness.
Under plans discussed by the Church of England, Archbishop of Canterbury Justin Welby wants to pray in public with the leaders of the Catholic, Methodist, Baptist and United Reformed churches on the day after Britain leaves.
“I would hope that it will resonate with the wider nation, that this is the time for turning to something deeper in the human spirit than legal arguments and philosophical discussions, and to seek wisdom from God,” a senior Church of England source was quoted as telling the newspaper.
With the clock ticking down to March 29, the date set in law for Britain to leave the EU, the United Kingdom is in the deepest political crisis in half a century as it grapples with how, or even whether, to exit the European project it joined in 1973.
The Sunday Times said Prime Minister Theresa May, an Anglican, and Labour Party leader Jeremy Corbyn are being sounded out to join them.
Queen Elizabeth in January sent a delicately coded message to Britain’s factious political class over Brexit, urging MPs to seek common ground and grasp the big picture to resolve the crisis.
https://www.reuters.com/article/uk-brit ... SKCN1QD08I
conclusion: The last approach for brexit: Cross your fingers Dude, cross your finger
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Forex Tribune
Re: A prayer for Brexit
64Let's pray that this whole fiasco ends soon!navid110 wrote: Tue Feb 26, 2019 5:11 am A prayer for Brexit - Church of England spiritual leader to plead for unity
LONDON (Reuters) - The spiritual leader of the Church of England may lead five days of prayer with other Churches after Britain’s March 29 exit from the European Union in an attempt to ease Brexit divisions, The Sunday Times reported.
The 2016 Brexit referendum showed a United Kingdom divided about much more than the European Union, and has fuelled soul-searching about everything from secession and immigration to capitalism, empire and modern Britishness.
Under plans discussed by the Church of England, Archbishop of Canterbury Justin Welby wants to pray in public with the leaders of the Catholic, Methodist, Baptist and United Reformed churches on the day after Britain leaves.
“I would hope that it will resonate with the wider nation, that this is the time for turning to something deeper in the human spirit than legal arguments and philosophical discussions, and to seek wisdom from God,” a senior Church of England source was quoted as telling the newspaper.
With the clock ticking down to March 29, the date set in law for Britain to leave the EU, the United Kingdom is in the deepest political crisis in half a century as it grapples with how, or even whether, to exit the European project it joined in 1973.
The Sunday Times said Prime Minister Theresa May, an Anglican, and Labour Party leader Jeremy Corbyn are being sounded out to join them.
Queen Elizabeth in January sent a delicately coded message to Britain’s factious political class over Brexit, urging MPs to seek common ground and grasp the big picture to resolve the crisis.
https://www.reuters.com/article/uk-brit ... SKCN1QD08I
conclusion: The last approach for brexit: Cross your fingers Dude, cross your finger
GBPUSD hits a four-month high
65
Pound buyers not letting up as cable rises to highest levels since October
Alright, this is where things start to get a bit stretched in my view. The gains today is basically signalling that markets are pricing in some form of positive news to come about from May's statement later just after midday. Currently, the hope is for either a Brexit extension or that May rules out a no-deal Brexit outcome.
Either of which will more than likely help support gains seen today but should neither come about, it will just be a pain trade that is waiting to happen.
There is some decent resistance for cable around 1.3250-60 before the 1.3300 handle but at this point it's purely sentiment that is dominating trade here. Technicals will mean little if the sentiment seen here is supported by fundamentals. Cable could easily take out 1.3300 on the back of positive headlines later.
But that is very much the case, it's either the pair is going to rally further from here or the gains today will be tempered with depending on May's statement.
Meanwhile, EUR/GBP is also opening up to new lows as the pair falls below 0.8600 to its lowest levels since May 2017.
Source: https://www.forexlive.com/technical-ana ... r-20190226
Alright, this is where things start to get a bit stretched in my view. The gains today is basically signalling that markets are pricing in some form of positive news to come about from May's statement later just after midday. Currently, the hope is for either a Brexit extension or that May rules out a no-deal Brexit outcome.
Either of which will more than likely help support gains seen today but should neither come about, it will just be a pain trade that is waiting to happen.
There is some decent resistance for cable around 1.3250-60 before the 1.3300 handle but at this point it's purely sentiment that is dominating trade here. Technicals will mean little if the sentiment seen here is supported by fundamentals. Cable could easily take out 1.3300 on the back of positive headlines later.
But that is very much the case, it's either the pair is going to rally further from here or the gains today will be tempered with depending on May's statement.
Meanwhile, EUR/GBP is also opening up to new lows as the pair falls below 0.8600 to its lowest levels since May 2017.
Source: https://www.forexlive.com/technical-ana ... r-20190226
GBPUSD Technical Analysis: Hits fresh 1-week low
67GBP/USD Technical Analysis: Hits fresh 1-week low, but finds some support near descending channel
GBP/USD 1-hourly chart
Overview:
Today Last Price: 1.3121
Today Daily change: -55 pips
Today Daily change %: -0.42%
Today Daily Open: 1.3176
Trends:
Daily SMA20: 1.3026
Daily SMA50: 1.2936
Daily SMA100: 1.2882
Daily SMA200: 1.299
Levels:
Previous Daily High: 1.3269
Previous Daily Low: 1.3166
Previous Weekly High: 1.3351
Previous Weekly Low: 1.3051
Previous Monthly High: 1.3351
Previous Monthly Low: 1.2773
Daily Fibonacci 38.2%: 1.3205
Daily Fibonacci 61.8%: 1.323
Daily Pivot Point S1: 1.3139
Daily Pivot Point S2: 1.3101
Daily Pivot Point S3: 1.3035
Daily Pivot Point R1: 1.3242
Daily Pivot Point R2: 1.3307
Daily Pivot Point R3: 1.3345
Source: https://www.forexcrunch.com/gbp-usd-tec ... g-channel/
- The pair extended its retracement slide from multi-month tops and remained under some heavy selling pressure for the fourth consecutive session on Tuesday.
- The corrective slide has been along a descending trend-channel formation on the 1-hourly chart and every attempted recovery remained capped at 50-hour SMA.
- The intraday fall has now dragged the pair to the trend-channel support, also coinciding with 23.6% Fibonacci retracement level of the 1.2396-1.3350 recent upsurge.
- Technical indicators on hourly charts have been gaining negative momentum and losing positive traction on the daily chart, though managed to hold in the bullish territory.
Hence, it would be prudent to wait for a convincing break through the mentioned confluence support, and the 1.3100 handle before positioning for any further near-term downfall.
GBP/USD 1-hourly chart
Overview:
Today Last Price: 1.3121
Today Daily change: -55 pips
Today Daily change %: -0.42%
Today Daily Open: 1.3176
Trends:
Daily SMA20: 1.3026
Daily SMA50: 1.2936
Daily SMA100: 1.2882
Daily SMA200: 1.299
Levels:
Previous Daily High: 1.3269
Previous Daily Low: 1.3166
Previous Weekly High: 1.3351
Previous Weekly Low: 1.3051
Previous Monthly High: 1.3351
Previous Monthly Low: 1.2773
Daily Fibonacci 38.2%: 1.3205
Daily Fibonacci 61.8%: 1.323
Daily Pivot Point S1: 1.3139
Daily Pivot Point S2: 1.3101
Daily Pivot Point S3: 1.3035
Daily Pivot Point R1: 1.3242
Daily Pivot Point R2: 1.3307
Daily Pivot Point R3: 1.3345
Source: https://www.forexcrunch.com/gbp-usd-tec ... g-channel/
GBPUSD struggles around a week’s low
68GBP/USD struggles around a week’s low as EU-UK leaders jostle for soft/delayed Brexit
GBP/USD maintained its spot among sellers’ latest favorite around 1.3130 while heading towards the European open on Wednesday. The pair dropped to the low near 1.3120 after Reuters reported no conclusion reached out of the EU-UK leaders’ recent meet. Elsewhere, The Guardian came out with a news report quoting conservative leader that the parliament will take over PM May’s Brexit rights if she fails to get her plan through during the second vote on March 12. Traders may keep observing Brexit updates while giving equal importance to the US data and US-China trade developments to forecast near-term GBP/USD moves.
The GBP/USD pair fall short of pleasing buyers even after registering better than forecast UK Services PMI (51.3 versus 49.9 expected) due to upbeat prints of the US ISM non-manufacturing PMI (59.7 against 57.3 consensus) and New Home Sales (0.621M from 0.6000M forecast) on Tuesday.
Sellers regained control during early Wednesday after Reuters reported that the meeting between Britain’s Attorney General Geoffrey Cox, Brexit Secretary Stephen Barclay and the European Union (EU’s) Brexit negotiator Michel Barnier failed to deliver any conclusion and were stretched to another meeting on Wednesday in Brussels.
Adding to the Brexit uncertainty was The Guardian’s report mentioning that the chief whip of Britain’s conservative party, Julian Smith, warned cabinet ministers of parliament taking the control over Brexit if members of parliament (MPs) reject PM Theresa May’s deal a second time on March 12.
While looming concerns over the UK’s departure from the EU continued hurting GBP, the US Dollar held buyers’ preference as not only latest data but pessimism surrounding rest of the major economies like Australia and Eurozone also pushed traders toward the greenback. Also, positive news from the US-China trade discussion spreads optimism among the USD bulls.
The results of the EU-UK leaders’ meet in Brussels could act as a frontline catalyst for the pair whereas trade updates and the US ADP employment change (expected 189K against 213K) could further validate the moves.
GBP/USD Technical Analysis
GBP/USD’s sustained beneath 1.3185 signal brighter chances of its further declines to 1.3110 and 1.3060 whereas 200-day simple moving average (SMA) at 1.2990 may please bears afterward.
On the upside, break of 1.3185 could open the door for the pair’s rise to 1.3250 and February month high near 1.3350.
Source: https://forex-station.com (chart) & https://www.fxstreet.com/news/gbp-usd-s ... 1903060437 (article)
- GBP/USD traders near 1.3130 ahead of London open on Wednesday.
- Brexit uncertainty and traders’ preference for the USD dragged the pair to a week’s low.
- Sustained trading beneath 1.3185 signals the pair’s weakness.
GBP/USD maintained its spot among sellers’ latest favorite around 1.3130 while heading towards the European open on Wednesday. The pair dropped to the low near 1.3120 after Reuters reported no conclusion reached out of the EU-UK leaders’ recent meet. Elsewhere, The Guardian came out with a news report quoting conservative leader that the parliament will take over PM May’s Brexit rights if she fails to get her plan through during the second vote on March 12. Traders may keep observing Brexit updates while giving equal importance to the US data and US-China trade developments to forecast near-term GBP/USD moves.
The GBP/USD pair fall short of pleasing buyers even after registering better than forecast UK Services PMI (51.3 versus 49.9 expected) due to upbeat prints of the US ISM non-manufacturing PMI (59.7 against 57.3 consensus) and New Home Sales (0.621M from 0.6000M forecast) on Tuesday.
Sellers regained control during early Wednesday after Reuters reported that the meeting between Britain’s Attorney General Geoffrey Cox, Brexit Secretary Stephen Barclay and the European Union (EU’s) Brexit negotiator Michel Barnier failed to deliver any conclusion and were stretched to another meeting on Wednesday in Brussels.
Adding to the Brexit uncertainty was The Guardian’s report mentioning that the chief whip of Britain’s conservative party, Julian Smith, warned cabinet ministers of parliament taking the control over Brexit if members of parliament (MPs) reject PM Theresa May’s deal a second time on March 12.
While looming concerns over the UK’s departure from the EU continued hurting GBP, the US Dollar held buyers’ preference as not only latest data but pessimism surrounding rest of the major economies like Australia and Eurozone also pushed traders toward the greenback. Also, positive news from the US-China trade discussion spreads optimism among the USD bulls.
The results of the EU-UK leaders’ meet in Brussels could act as a frontline catalyst for the pair whereas trade updates and the US ADP employment change (expected 189K against 213K) could further validate the moves.
GBP/USD Technical Analysis
GBP/USD’s sustained beneath 1.3185 signal brighter chances of its further declines to 1.3110 and 1.3060 whereas 200-day simple moving average (SMA) at 1.2990 may please bears afterward.
On the upside, break of 1.3185 could open the door for the pair’s rise to 1.3250 and February month high near 1.3350.
Source: https://forex-station.com (chart) & https://www.fxstreet.com/news/gbp-usd-s ... 1903060437 (article)
GBPUSD: Traders await US employment data amid Brexit jitter
69GBP/USD: Traders await US employment data amid Brexit jitter
GBP/USD seesaws near 1.3100 before London open on Friday. The pair recently dropped after lack of Brexit progress and disappointments from the ECB pushed markets toward the US Dollar. While on-going Brexit saga can continue affecting pair moves, the US jobs report for February month can also play its part to entertain traders.
Thursday couldn’t please Cable buyers as various news conveyed the EU-UK difference on Irish backstop delivering no Brexit deal and fewer chances of having one before next week’s British parliament voting on the UK PM Theresa May’s second referendum.
Sellers gained control after the European Central Bank (ECB) disappointed global market with its growth and inflation forecast cut joining hands with a change in forward guidance and new TLTRO.
Latest developments on the Brexit suggest the UK PM is likely pushing the EU leaders to accept her Irish backstop plan. However, the EU has already given time till Friday end to the British policymakers to come up with something new for Irish backstop to regain the region’s confidence.
In case of the February month US jobs report, the headline nonfarm payrolls (NFP) are likely to have softened to 180K from 304K while the average hourly earnings (YoY) might have increased to 3.3% versus 3.2% earlier. Also, the unemployment rate bears the consensus to test 3.9% against 4.0% prior.
GBP/USD Technical Analysis
1.3090 is likely immediate support for the GBP/USD pair, a break of which can further drag it to 1.3030 and then to 200-day simple moving average (SMA) figure of 1.2990.
On the upside, the pair needs to overcome the 1.3185 support-turned-resistance to revisit 1.3260 and 1.3310 resistances.
Source: https://forex-station.com (chart) & https://www.fxstreet.com/news/gbp-usd-t ... 1903080431 (article)
- GBP/USD trades a shade lower than 1.3100 ahead of European open on Friday.
- The pair declined to the month’s low after pessimism surrounding Brexit and USD strength took their toll on Thursday.
- While 1.3090 and 1.3030 can offer immediate support to the pair, 1.3185 acts as strong upside resistance.
GBP/USD seesaws near 1.3100 before London open on Friday. The pair recently dropped after lack of Brexit progress and disappointments from the ECB pushed markets toward the US Dollar. While on-going Brexit saga can continue affecting pair moves, the US jobs report for February month can also play its part to entertain traders.
Thursday couldn’t please Cable buyers as various news conveyed the EU-UK difference on Irish backstop delivering no Brexit deal and fewer chances of having one before next week’s British parliament voting on the UK PM Theresa May’s second referendum.
Sellers gained control after the European Central Bank (ECB) disappointed global market with its growth and inflation forecast cut joining hands with a change in forward guidance and new TLTRO.
Latest developments on the Brexit suggest the UK PM is likely pushing the EU leaders to accept her Irish backstop plan. However, the EU has already given time till Friday end to the British policymakers to come up with something new for Irish backstop to regain the region’s confidence.
In case of the February month US jobs report, the headline nonfarm payrolls (NFP) are likely to have softened to 180K from 304K while the average hourly earnings (YoY) might have increased to 3.3% versus 3.2% earlier. Also, the unemployment rate bears the consensus to test 3.9% against 4.0% prior.
GBP/USD Technical Analysis
1.3090 is likely immediate support for the GBP/USD pair, a break of which can further drag it to 1.3030 and then to 200-day simple moving average (SMA) figure of 1.2990.
On the upside, the pair needs to overcome the 1.3185 support-turned-resistance to revisit 1.3260 and 1.3310 resistances.
Source: https://forex-station.com (chart) & https://www.fxstreet.com/news/gbp-usd-t ... 1903080431 (article)
Re: GBP news
70GBP/USD was pretty bearish when it closed, does anyone think it will drop below 1.3000 next week?
