Charmingly Eccentric: A Look at the GBP/USD Pair Introduction The GBP/USD pair has been a topic of discussion among forex traders as it struggles to capitalize on the previous day’s recovery. The pair, which hit a two-week low, is now hovering around the 1.2880-1.2875 region, facing some selling pressure near the 1.2900 mark during the…
GBP/USD on the Rise: IMF Supports UK Growth Forecasts, Hawkish BOE Boosts Confidence, Eyes on Fed Overview GBP/USD bulls take a breather around 1.2900 during early Wednesday morning in Asia, reversing from a two-month low, as well as snapping a seven-day-long losing streak, amid the broad US Dollar pullback. Apart from that, the International Monetary…
USD/JPY Retreats from Weekly Highs Amid Risk-On Sentiment and Rising Treasury Yields Market Overview The USD/JPY pair has retreated from its weekly highs of 141.81 and is now falling towards current exchange rates. This decline comes as a result of a risk-on impulse in the market, despite US Treasury bond yields rising. Traders are now…
The EUR/JPY Pair Declines towards Immediate Support Market Analysis in the European Session The EUR/JPY pair has come out of the woods and is declining towards the immediate support of 155.00 in the European session. This movement suggests a bearish trend may be emerging in the forex market. Volatile Market Ahead The cross is expected…
GBP/JPY Picks Up Bids to Refresh Intraday High Near 181.75 Market Sentiment Boosts Cross-Currency Pair Heading into Tuesday’s London Open GBP/JPY has seen a resurgence in buying interest, pushing the pair to a new intraday high near 181.75 as traders responded to the upbeat market sentiment. This positive shift comes after a somewhat lackluster start…
The EUR/GBP cross has been facing selling pressure for the past two days, leading to a retreat from its recent high above the 0.8700 mark. This downward trend has continued into the European session today, pushing prices to a one-week low. Traders are now watching closely for a potential break below the key 0.8600 level…
The Impact of Declining AUD/USD on Market Sentiments What’s Been Happening in the Currency Market? Since the 20 July 2023 intraday high of 0.6847, the AUD/USD has declined by 132 pips to print a low of 0.6715 yesterday, 24 July. This downtrend can be attributed to short-term bearish sentiment seen in China equities. The bleak…
Euro continues to slide against the US Dollar EUR/USD struggles to recover The EUR/USD pair remains under pressure as it hovers near the 1.1065 mark, marking a decline for the fifth consecutive day to reach a two-week low. The pair is currently trading with a sideways momentum in the early hours of Tuesday’s Asian session….
