Why did the GBP rise suddenly at the end? (Specifically, from 1.2745 to 1.28246)😕
Could you provide a screenshot or a time frame with dates in it, I am not sure about which movement you're talking about.
Is that when the UK span election was announced?
May 03 2017 at 14:57
Going short looks good right now
I think this is not the end of the rally. But then again the range is so tight nothing is clear right now.
May 26 2017 at 06:14
GBP/USD was the top loser in Asia as the FX desks offered GBP across the board in response to weak UK Q1 GDP print and growing signs of UK PM May’s Conservative party losing ground ahead of the June 8 elections.
The demand for the US dollar spiked as well as the CME FedWatch June rate hike probability jumped to 87.7%.
Despite the retreat to 1.2870 in Asia, the broader uptrend is still intact, given the pair is trading above 1.2810 (support offered by the trend line sloping upwards from the March low and April low). The 11-week rally could come to an end if the US data due later today beats estimates.
Reference: https://forexdaytips.blogspot.com/2017/05/11-week-rally-ended-in-gbpusd.html
The demand for the US dollar spiked as well as the CME FedWatch June rate hike probability jumped to 87.7%.
Despite the retreat to 1.2870 in Asia, the broader uptrend is still intact, given the pair is trading above 1.2810 (support offered by the trend line sloping upwards from the March low and April low). The 11-week rally could come to an end if the US data due later today beats estimates.
Reference: https://forexdaytips.blogspot.com/2017/05/11-week-rally-ended-in-gbpusd.html
Nov 13 2021 at 08:09
GBP/USD drops notably today but it's still defending 1.3646 support. Intraday bias remains neutral first. On the upside, above 1.3833 will resume the rebound from 1.3410 to 1.3912 key structural resistance.
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