GBP/USD Live News

This page provides live coverage and news analysis on the GBP/USD currency pair

Advertiser Disclaimer
Top8forexbrokers would like to remind you that the data contained in this website is not necessarily real-time nor accurate.Prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Top8forexbrokers does not bear any responsibility for any trading losses you might incur as a result of using this data.
Top8forexbrokers or anyone involved with Top8forexbrokers will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Jul. 23, 2021

The Pound looks to be cooling off, hovers around 1.3752 while in a bullish run

(23:03) GMT

While The Pound is on a 3 days of up trend Today's session might suggest a slow down – Pound/Dollar price varies between 1.372 and 1.378 and settles at 1.3752.

This limbo state for Pound/Dollar is reflected by market data published as United Kingdom Composite PMI published today at 8:30 AM came out at 57.7, falling short of the 61.9 projections and continuing its decline from the previous 62.2 figure. United Kingdom Services PMI fall short of the 62 projections, with 57.8 and continued its downward trajectory from previous figure of 62.4. United Kingdom Manufacturing PMI fall short of the 62.7 projections, with 60.4 and continued its downward trajectory from previous figure of 63.9.

As the day reaches an end a chart visual study suggests GBP/USD might start to recover soon because it is getting close and is now only 126 pips from support line at 1.3626, obviously dipping below it could be an indication that further losses are ahead. In terms of trend indicators, we can see that medium-term trend indication has turned positive as the MACD (moving average convergence divergence) index generated a crossover buy signal. This occurs as the MACD line crosses above the MACD signal line. Asset volatility analysis shows that The lower Bollinger band is at 1.3656, indicating a positive move might be next. In contrast at 1.3769, The British Pound made an initial breakout below the 10 day Simple Moving Average, an indication of a negative trend.

Overall, looking at the technical analysis landscape, it seems The Pound might be pointing upward in the short term.

Meanwhile, mixed performances are seen elsewhere as a new all-time high for S&P 500 as it reaches 4,412.81. Nasdaq reaches a new record high at 14,843.

The Pound has started this year by gaining 0.73%. Looking at the long term behavior shows The Pound has been trading sideways for the last 1 year, 2 months.

follow us:

Week to date

The British Pound bounces 182 pips from 6 months low .

A flat end to the trading week, GBP/USD recovered back to 1.3752 after dipping down to 1.357 in a week that started at 1.3749. (Start trading The British Pound at FXTM today).

This in-between state for The British Pound is reflected by market data published as United Kingdom Composite PMI fall short of the 61.9 projections, with 57.7 and continued its downward trajectory from previous figure of 62.2. United Kingdom Services PMI fall short of the 62 projections, with 57.8 and continued its downward trajectory from previous figure of 62.4. United Kingdom Manufacturing PMI published today at 8:30 AM came out at 60.4, falling short of the 62.7 projections and continuing its decline from the previous 63.9 figure. United Kingdom Retail Sales comes out at 0.5%, above the estimate of 0.4%. This is also a step forward from the previous data of -1.3%. United Kingdom Core Retail Sales published today at 6:00 AM came out at 7.4%, falling short of the 8.2% projections and continuing its decline from the previous 21.7% figure.

Other markets show mixed performance as Euro/Yen fell to 128.57, hitting a 4 months low. At 109.06, Dollar/Yen is down to its lowest value in 2 months.

Outlook for rest of the week: Data to be released later might clear up some of the fog for The British Pound as United States Core Durable Goods Orders projected to outperform last figure with 0.8% while it previously stood at 0.3%, data will be released Tuesday.