(VIANEWS) – Some hints of stability on Wednesday were followed by the full return to control by the GBP/USD bears on Thursday. They have recently driven the pair below the level of 1.2500 for the first-time since June 2020, and then onwards towards 1.2450. The pair trades at 1.2470 with losses slightly above 0.5% and will soon post its sixth consecutive day of losses. It has fallen more than 4.5% since 1.3100.
FXStreet reports that the US Dollar continues to rise across the board due to a combination safe-haven and yield demand. The Fed is expected to increase interest rates more aggressively than most G10 counterparts in the next quarters. This includes the BoE which will raise interest rates 25bps next week. However, some analysts warn that this may indicate a slower pace in rate increases ahead as worries about the UK’s economic health grow.
GBP/USD (GBPUSD) is currently on bullish momentum. At 02:06 EST on Friday, 29 April, GBP/USD (GBPUSD) is at 1.2522, 0.5034% up since the last session’s close.
GBP/USD (GBPUSD) Range
Concerning GBP/USD’s daily highs and lows, it’s 0.538% up from its trailing 24 hours low of $1.25 and 0.49% up from its trailing 24 hours high of $1.25.
GBP/USD’s yearly highs and lows, it’s 0.87% up from its 52-week low and 12.108% down from its 52-week high.
GBP/USD’s last week, last month’s, and last quarter’s current intraday variation average was a negative 0.91%, a negative 0.24%, and a positive 0.37%, respectively.
GBP/USD’s highest amplitude of average volatility was 0.91% (last week), 0.39% (last month), and 0.37% (last quarter), respectively.
Forex Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, GBP/USD’s Forex is considered to be overbought (>=80).
Last news about GBP/USD (GBPUSD)
- Gbp/usd rebounds from its lowest level since July 2020, back above mid-1.2500s. According to FXStreet on Thursday, 28 April, “That said, the prevalent strong bullish sentiment surrounding the US dollar should cap the upside for the GBP/USD pair.”, “The data might influence Fed rate hike expectations, which, in turn, will drive the USD and provide some impetus to the GBP/USD pair.”
- Gbp/usd stabilises near 1.2550, licks wounds after relentless beating over past four sessions. According to FXStreet on Wednesday, 27 April, “Tuesday’s major underperformer pound sterling has seen some much-needed stabilisation on Wednesday, with GBP/USD currently trading a little lower on the day near 1.2550, having dropped a staggering more than 3.5% over the last four sessions alone. “, “But most would agree that the prospect of a more meaningful rebound in GBP/USD remains remote. “
- Gbp/usd plummets to September 2020 lows, around 1.2675 area amid broad-based USD strength. According to FXStreet on Tuesday, 26 April, “The GBP/USD pair continued losing ground through the early North American session and dived to its lowest level since September 2020, around the 1.2675 region in the last hour.”, “That said, slightly oversold conditions on short-term charts might hold back bearish traders from placing aggressive bets and help limit any further losses for the GBP/USD pair, at least for the time being.”
- Gbp/usd plummets to fresh 22-month lows and hovers around 1.2450s after US data. According to FXStreet on Thursday, 28 April, “Due to the market sentiment, the GBP/USD should rise as the GBP is considered a risk-sensitive currency, opposite the safe-haven US dollar. “, “The Relative Strength Index (RSI) is at 18.61, well within the oversold territory, but its slope remains headed south, meaning that the GBP/USD might continue sliding.”
- Gbp/usd price analysis: looks to test 1.2500 on bullish divergence, downside remains favored. According to FXStreet on Thursday, 28 April, “The GBP/USD pair is displaying a minor pause from 1.2411 after a sheer downside move. “
News about USD/JPY
- Usd/jpy sticks to gains near daily high, around 128.00 mark amid sustained USD buying. According to FXStreet on Wednesday, 27 April, “Apart from this, traders will take cues from broader market risk sentiment for short-term opportunities around the USD/JPY pair.”, “A combination of factors assisted the USD/JPY pair to attract fresh buying on Wednesday and reverse a major part of the previous day’s slide to a one-week low. “
- Usd/jpy price analysis: hangs near one-week low, around 200-hour sma/23.6% fibo. confluence. According to FXStreet on Tuesday, 26 April, “The USD/JPY pair witnessed some selling for the second successive day and dropped to a one-week low during the early part of trading on Tuesday. “, “From a technical perspective, the USD/JPY pair was flirting with the 23.6% Fibonacci retracement level of the 121.28-129.41 parabolic rise. “
- According to DailyForex on Tuesday, 26 April, “Japan’s former Ministry of Finance FX Chief stated he does not think USD/JPY at ¥130 or even ¥135 will be damaging to the Japanese economy, and he does not expect intervention from the Bank of Japan to halt further weakening of the Yen to those levels. “
- Usd/jpy to see a lengthier consolidation phase beneath 130 – credit suisse. According to FXStreet on Wednesday, 27 April, “The deteriorating risk sentiment and recent rally in rates markets is leading to a pause in USD/JPY below the 130 psychological barrier. “
More news about GBP/USD (GBPUSD).