GBP/USD remains capped by 1.3450

15 December, 2017

DXY resumes selling in Europe. Bounce stalls on EU Juncker’s comments. US industrial production data in focus.

The range-trade in the GBP/USD pair extends into the European session, with the rates moving back and forth amid a lack of fresh catalysts, while Brexit headlines continue to drive the GBP markets.

GBP/USD: Will it take-out 1.3450?

The Cable failed yet another attempt to surpass the key 1.3450 barrier, as the latest remarks from the EU Commission Chief Juncker triggered a fresh selling wave around the pound. Moreover, the UK Times report that the UK PM Theresa May is expected to back down on Brexit date plan, also keeps any recovery moves short-lived.

EU’s Juncker: Second phase of Brexit talks will be far more difficult than the first

However, the bulls continue to find support near 1.3425 region amid persistent selling seen around the US dollar against its major peers, as markets remain uncertain over the progress on the US tax reform bill.

Looking ahead, the BOE MPC member Haldane’s speech is eagerly awaited ahead of the US industrial production, capacity utilization and Empire State manufacturing index releases.

GBP/USD Technical Levels

According to Jim Langlands at FX Charts: “While the daily charts look inconclusive the 4 hour indicators are pointing to further gains for Sterling, so buying dips towards 1.3400, with a SL below 1.3365 would seem to be a plan, looking for a run back to 1.3500 and possibly towards 1.3520 – last week’s high. Given the absence of any data today it may just be another choppy session, using 1.34/1.35 as a guide.”

Source link   Presented by HotForex

GBP/USD looks to extra consolidation

Expectation for GBP to extend its decline was wrong as it staged a smart rebound to end the day largely unchanged. Indicators have turned flat...

GBP/USD Bulls eyeing a move beyond

The pair found decent support near the 200-hour SMA and rallied nearly 100-pips from sub-1.3100 level, filling the Brexit news-led weekly bearish gap...

Pound grinds higher on Brexit optimism

Sterling powered higher against the Dollar on Wednesday with prices punching above 1.3200 as investors remained hopeful of a breakthrough in Brexit negotiations...

Sterling boosted by Brexit noise

A gloomy mood continues to hang over markets after the International Monetary Fund (IMF) downgraded its economic growth forecast for...

GBP/USD faces further downside

GBP/USD is seeing a correction lower unfold near term. Below it lies the 55 day moving average at 1.2996. Currently the technical signals are conflicting...

GBP/USD scope for a move to 1.3170

We expected a higher GBP yesterday but the break of the strong 1.3105 resistance came as a surprise (overnight high of 1.3124). While the rally has moved...

GBP/USD clings to gain around mid 1.3

BoE MPC votes 9-0 to leave interest rates/asset purchase facility unchanged. Brexit optimism continues to underpin the British Pound and remain...

GBP moves back above 1.30 handle

A short-lived USD dip provides a temporary boost during the early European session. Further up-move remains capped ahead of Thursday BoE monetary...

Sterling weakens despite wage growth

There was appetite for the British Pound on Tuesday morning following official data that showed UK wage growth accelerating faster than expected...