July 18, 2024 at 05:31PM The GBPUSD moved higher yesterday, reaching its highest level since July 18, 2023, with a peak at 1.3043 before slowing. This move pushed the price above the July 28 high of 1.2995 and the psychological resistance at 1.3000. Today, however, the price has rotated lower,…
July 18, 2024 at 02:27PM In the kickstart video for July 18, 2024, I take a look at the three major currency pairs – the EURUSD, USDJPY and GBPUSD – from a technical perspective. The key levels are in play? What is the bias? the risk? the targets? for each…
July 18, 2024 at 09:29AM Fundamental Overview The USD remains on the backfoot as the US data continues to point to resilient growth with falling inflation. This week, we got a good US Retail Sales report suggesting that the stories of deteriorating consumer spending have been exaggerated. Overall, this should…
July 17, 2024 at 04:47PM As London/European traders look for the exits, the GBPUSD has backed off highs and is retesting the natural support at 1.3000 as well as the underside of a broken trend line at the same level. The high price going back to July 28, 2023 is…
July 17, 2024 at 02:24PM In the kickstart video, I look at the 3 major currencies – the EURUSD, USDJPY and GBPUSD. For the EURUSD, it based yesterday at the 50% midpoint of the move down from the December 2023 high (see video yesterday “EURUSD bounces off the 50% midpoint,…
July 16, 2024 at 06:37PM Bank of America observes that GBP/USD is starting to break its secular downtrend, which has been in place since 2008. Recent technical signals suggest a potential rally towards 1.40, contingent on a sustained break above key resistance levels and the 200-week SMA. Key Points: Secular…
July 16, 2024 at 09:14AM Fundamental Overview The USD weakened across the board last week following another soft US CPI report and benign Jobless Claims figures. The market not only fully priced in a rate cut in September but also started to price in some chances of a back-to-back rate…
July 15, 2024 at 02:14PM The dust is settling after the assassination attempt of former Pres. Trump. The yield curve has steepened as the expectations are for higher tariffs (trade war/isolationism), deportation of immigrants and less immigration (potentially inflationary) and perhaps getting a new Fed chair who would look to…
July 12, 2024 at 04:28PM The GBPUSD continues to stretch to the July 27 hi target at 1.2995. That is just short of the natural resistance at 1.3000. The high just reach 1.29898. There should be willing sellers/profit taking against that level with stops on a move above. Risk is…
July 12, 2024 at 11:46AM Fundamental Overview The USD weakened across the board yesterday following another soft US CPI report and benign Jobless Claims figures. The market not only fully priced in a rate cut in September but also started to price in some chances of a back-to-back rate cut…
