Friday 13th December: Technical Outlook and Review.
Sterling initially dipped south of 1.31, testing the waters around 1.3050 amid dollar strength. However, a reversal was seen at the tail end of yesterday’s session as UK journalist reports aired positive vibes in favour of the Conservatives.
Wednesday 11th December: Dollar Subdued Ahead of FOMC.
Europe’s shared currency pencilled in a reasonably solid performance against the buck Tuesday, adding more than 28 points, or 0.26%. Upbeat ZEW metrics for Germany, nevertheless, failed to excite traders.
Tuesday 10th December: Technical Outlook and Review.
Europe’s shared currency concluded narrowly mixed against the buck Monday, underpinned by H4 support priced in at 1.1055 and a 50.0% retracement ratio at 1.1048. Beneath here, traders’ crosshairs are likely fixed on December’s opening value at 1.1023 that aligns closely with a trend line resistance-turned support, taken from the high 1.1173
Monday 9th December: Weekly technical outlook and review.
In view of GBP/USD bulls enhancing their position, the resistance area at 1.3019-1.2975 yielded ground, as did Quasimodo resistance at 1.3102 (both now acting supports).
Friday 6th December: Dollar Trades Lower Ahead of Critical NFP Data.
The British pound continued to flex its financial muscle against the US dollar Thursday, ascending to a fresh peak of 1.3166 and adding 0.41%. Underpinned by a clear Tory lead on Labour, with latest polls maintaining the differential at 10 points, GBP/USD trades at approximately 2.00% on the week.
Thursday 5th December: Dollar Explores Lower Ground for A Fourth Successive Session.
An outperformer on the day, the British pound scored fresh monthly highs of 1.3120 against its US counterpart in recent movement. A blend of upbeat UK data and election polls favouring UK PM Johnson’s Conservatives provided support.
Wednesday 4th December: Dollar Subdued on Global Trade Concerns.
Cable traded firmer Tuesday amid hotter-than-expected UK Markit Construction PMI, and latest election polls displaying a widening lead in favour of Conservatives.
Tuesday 3rd December: Dollar Tanks Amid a Fresh Flare-Up in Trade Tensions.
Europe’s single currency strongly advanced against its US counterpart Monday, adding more than 60 points, or 0.58%. The buck turned lower following US President Trump’s announcement of steel and aluminium tariffs on Brazil and Argentina.
Monday 2nd December: Weekly technical outlook and review.
Friday had Europe’s shared currency a shade higher against the buck, recording a session low at 1.0981 and highs of 1.1028. On the data front, annual Eurozone inflation rose 1.0% in November 2019, up from 0.7% in October.
