GBP/JPY touched the bullish target required to be achieved during the previous trading session, at 157.40, bypassing the target station, to record its highest level around the psychological barrier of 158.00. On the technical side today, the pair failed to maintain its gains due to hitting the resistance level at …
Read More »Does Inflation Data Incite A New Forex Storm?
Major currency pairs were quite volatile on Thursday following the release of US inflation figures. The US Consumer Price Index soared to 7.5% YoY in January, higher than the 7.3% expected.The core reading printed at 6%, also above the market’s forecast. The headline spurred a short-lived US dollar’s rally, although …
Read More »Attacks Against BoE’s Bailey Over Pay Rises Miss Their Target
The Bank of England Governor Andrew Bailey was slapped down by the Government, business groups, and trade unions last week for urging wage restraint as a check against ongoing inflation.Rail, Maritime and Transport Union boss Mick Lynch accused him of “hypocrisy” given Bailey’s high salary. Downing Street retorted that the …
Read More »GBP/JPY: Positive Attempts 10/2/2022
The gradual rise of GBP/JPY within an ascending path to the upside, approaching by a few points from the official station 157.00, to record the highest level at 156.85. Today, by looking at the 60-minute chart, we notice that the pair continues to obtain positive motive from the 50-day SMA, …
Read More »Optimism Impacts The Us Dollar
Easing government bond yields weighed on the US dollar, which anyway ended the day with mixed performance across the major currencies. The yield on the US 10-year Treasury note stands at around 1.93%, down from its weekly peak at 1.97%. The GBP/USD pair is unchanged on a daily basis trading …
Read More »GBP/JPY: Repeats Attempts to Rise 9/2/2022
The pound against its Japanese counterpart touched the first target published during the previous report, at 156.45, recording the highest level at 156.72. Today, and carefully looking at the 60-minute chart, we notice that the pair continues to obtain a positive stimulus from the 50-day simple moving average, accompanied by …
Read More »GBP/JPY: Trying Positively 8/2/2022
The British pound continues its attempts to maintain the bullish bias against its Japanese counterpart within the bullish path published during the previous analysis, recording its highest level at 156.25. Technically, today, and as seen on the 60-minute chart, there is a possibility to continue rising with the price stability …
Read More »GBP/USD Bears Back Regardless of Hawkish BoE
The GBP/USD has fallen onto the back foot in recent trade and is pressuring back below 1.3515 following a significant correction to 1.3535 as of the early New York session from the 1.3490 territory as traders digest the importance of last week’s main events in the central bank meetings as …
Read More »EUR/GBP Consolidates After Hitting Fresh Annual Highs
The EUR/GBP pair hit fresh annual highs in the 0.8470s but has since pulled back to consolidate around the 0.8450 area, where it trades broadly flat on the session.The latest remarks from ECB President Christine Lagarde before the EU parliament did not add anything new to her remarks in last …
Read More »The Dollar Keeps Resilient After NFP-Inspired Rebound
The US dollar is staying resilient against its rival currencies at the start of the week following Friday’s rebound, which was fueled by the upbeat January US jobs report.There will not be any high-tier macroeconomic data releases on Monday and major currency pairs are likely to move sideways. US stock …
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