GBP/USD plummets to fresh 22-month lows and hovers around 1.2450s after US data
The British pound keeps plunging, extending its April monthly fall to 5.43%, and it is approaching the 1.2400 figure on Thursday amidst an upbeat tilted mood, despite that some US and European indices record losses. At the time of writing, the GBP/USD is trading at 1.2440. Read more...
GBP/USD Forecast: Potential for a rebound above 1.2600 on weak US GDP
After having dropped below 1.2500 for the first time since July 2020 in the early European morning, GBP/USD has managed to erase its daily losses to turn positive on the day above 1.2550. The pair remains oversold in the near term and an extended correction could be witnessed in case the greenback loses its strength on an uninspiring growth report. Read more...
Ichimoku cloud analysis: GBP/USD, NZD/USD, USD/CAD
GBP/USD is still rebounding from Tenkan-Sen. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.2615 and then resume moving downwards to reach 1.2265 Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. Read more...
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EUR/USD struggles to hold above 1.0400 as mood sours
EUR/USD stays on the back foot and trades near 1.0400 following the earlier recovery attempt. The holiday mood kicked in, keeping action limited across the FX board, while a cautious risk mood helped the US Dollar hold its ground and forced the pair to stretch lower.
GBP/USD approaches 1.2500 on renewed USD strength
GBP/USD loses its traction and trades near 1.2500 in the second half of the day on Monday. The US Dollar (USD) benefits from safe-haven flows and weighs on the pair as trading conditions remain thin heading into the Christmas holiday.
Gold drops to $2,620 area as US bond yields edge higher
Gold struggles to build on Friday's gains and trades modestly lower on the day near $2,620. The benchmark 10-year US Treasury bond yield edges slightly higher above 4.5%, making it difficult for XAU/USD to gather bullish momentum.
Bitcoin fails to recover as Metaplanet buys the dip
Bitcoin hovers around $95,000 on Monday after losing the progress made during Friday’s relief rally. The largest cryptocurrency hit a new all-time high at $108,353 on Tuesday but this was followed by a steep correction after the US Fed signaled fewer interest-rate cuts than previously anticipated for 2025.
Bank of England stays on hold, but a dovish front is building
Bank of England rates were maintained at 4.75% today, in line with expectations. However, the 6-3 vote split sent a moderately dovish signal to markets, prompting some dovish repricing and a weaker pound. We remain more dovish than market pricing for 2025.
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