GBP/JPY bears on the prowell and testing weekly support
GBP/JPY bears in town and eye lower lows ahead. The cross is on the brink of breaking below critical weekly support. GBP has collapsed in classic risk-off fashion with the US dollar rallying to fresh cycle highs in the pursuit of blue skies on the DXY chart. At the time of writing, cable is trading 1.3640 and down close to 1% while the GBP/JPY cross is lower by the same percentage with USD/JPY flat on the day. Read more...
GBP/USD Forecast: Poised to test July low at 1.3571
The British Pound was among the worst performers against the greenback, with GBP/USD falling to 1.3639, its lowest for this August, holding nearby ahead of the Asian opening. The pound came under renewed selling pressure amid a dismal market’s mood pushing investors into safer bets. The UK macroeconomic calendar was empty, which made it easier to sell the sterling. Read more...
GBP/USD Forecast: Sterling suffers, and a dollar breather may fail to lift it
GBP/USD has tumbled to around 1.37 following the Fed's meeting minutes. Rising UK covid cases could hamper a recovery attempt. Thursday's four-hour chart is pointing to further pain for the pound. Blame it on Biden or on Boris? The chaos in Kabul has prompted a lively debate in the British parliament that will likely continue for long days. In currency markets, the most recent downfall of GBP/USD can be easily attributed to America's central bank – but it would be hard for the pound to recover. Read more...
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