Trade Successfully
The summer lull will continue into next week as economic releases will remain sparse. However, central bank minutes and the annual gathering of central bankers at the Jackson Hole Economic Symposium should generate plenty of headlines ahead of expected policy easings in September. Trade and geopolitical tensions will also come
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GBP/USD extends collapse; finds a floor at 138.2% Fibonacci. GBP/USD breached the 1.2381 swing low, causing a steeper downfall towards the 138.2% Fibonacci extension of 1.2026 of the up leg from 1.2393 to 1.3381. The relatively flat momentum indicators support a very short-term breather. The MACD has flattened below its red trigger
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It may be a quiet week in financial markets, with no central bank meetings or any other major events on the agenda, as the summer lull finally kicks in. Economic data will, therefore, attract most of the attention, though any tweets on the trade war or Brexit news could always
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A raft of data is due out of the UK next week, but with key Brexit dates coming up in September and October, investors will likely ignore the usually closely watched indicators. Nevertheless, the releases may provide some near-term support for the battered pound, starting with jobs numbers on Tuesday,
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The first estimate of UK GDP for Q2 is due at 08:30 GMT on Friday, with forecasts pointing to stagnation in growth. If confirmed, that could raise the pressure on the BoE to abandon its tightening plans soon. As for the pound, the outlook remains negative as long as PM
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GBP/USD stable near 31-month lows; bears may keep the upper hand. Last week’s aggressive downfall to a 31-month low of 1.2078 turned GBP/USD players indecisive, with the price sliding sideways within the narrow 1.21-1.22 boundaries and well below-moving averages afterward. Speculations for an upside correction are rising as the fast-Stochastics continue to head north after
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It will be the turn of the Reserve Bank of Australia and the Reserve Bank of New Zealand to next announce their latest policy decisions following a busy week for central banks. New Zealand will also see the release of the quarterly employment report and jobs figures are due out
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The heavy sell-off in GBP/USD stretched into Tuesday’s session as fears over a no-deal Brexit mounted, with the pair diving below 1.22 and towards its post-Brexit referendum troughs. The RSI is slipping below 30, the Stochastics are heading towards the 20 level, while the market action is currently taking place under
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GBP/USD has declined considerably again after it failed to surpass the short-term moving averages from the beginning of the month. During the preceding week, cable reached a fresh more than two-year low of 1.2380 and touched the return line of the downward sloping channel. The negatively aligned Tenkan-Sen line serves as a
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The British pound remains in the eye of the storm, as markets are waking up to the risk that a no-deal Brexit in October may be incoming Prime Minister Johnson’s preferred route. The coming week will be decisive, as the Cabinet ministers, Johnson picks could reveal much about his strategy.
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