logo
  • New York:
  • London:
  • Delhi:
  • Tokyo:
  • Sydney:
  •  

Daily Financial Market News

Tue, 21 Nov 2017 16:09:53 Z

GBP/USD retraces gains, turns flat near 1.3240 as DXY gains traction

GBP/USD retraces gains, turns flat near 1.3240 as DXY gains traction Skip to main content Follow us on: | FXStreet Blog |    Newsletter MENU Show navigation FXStreet FXStreet - The forex market Home RATES & CHARTS TOOLS Live Chart Trading Positions Forecast Poll Rates Table Technical Confluences ASSETS EUR/USD GBP/USD USD/JPY AUD/USD NZD/USD USD/CAD GBP/JPY EUR/JPY Dollar Index Gold Oil SP500 News LATEST FOREX NEWS Latest News Institutional Research LATEST NEWS BY ASSETS EUR/USD GBP/USD USD/JPY AUD/USD NZD/USD USD/CAD USD/CHF EUR/GBP Dollar Index Commodities Bonds Equities Analysis EDITORIAL SELECTION EUR/USD GBP/USD USD/JPY AUD/USD USD/CAD Dollar Index Oil Gold Stocks Commodities Bonds Correlations Support and Resistance Elliott Wave Cycles Sentiment Economic Calendar TOOLS Economic Calendar Interest Rates Market Hours TOP EVENTS Nonfarm Payrolls Fed BoC ECB BoE SNB BoJ RBA RBNZ Live Video SECTIONS Shows Schedule Become Premium MOST POPULAR COACHES Ed Ponsi Giuseppe Basile Sarid Harper Alex Ong Sam Seiden Steve Ruffley Rob Colville Nenad Kerkez Gonçalo Moreira Navin Prithyani David Pegler Walter Peters Education Brokers SECTIONS Forex Brokers Broker News Broker Spreads Contest Home RATES & CHARTS TOOLS Live Chart Trading Positions Forecast Poll Rates Table Technical Confluences ASSETS EUR/USD GBP/USD USD/JPY AUD/USD NZD/USD USD/CAD GBP/JPY EUR/JPY Dollar Index Gold Oil SP500 News LATEST FOREX NEWS Latest News Institutional Research LATEST NEWS BY ASSETS EUR/USD GBP/USD USD/JPY AUD/USD NZD/USD USD/CAD USD/CHF EUR/GBP Dollar Index Commodities Bonds Equities Analysis EDITORIAL SELECTION EUR/USD GBP/USD USD/JPY AUD/USD USD/CAD Dollar Index Oil Gold Stocks Commodities Bonds Correlations Support and Resistance Elliott Wave Cycles Sentiment Economic Calendar TOOLS Economic Calendar Interest Rates Market Hours TOP EVENTS Nonfarm Payrolls Fed BoC ECB BoE SNB BoJ RBA RBNZ Live Video SECTIONS Shows Schedule Become Premium MOST POPULAR COACHES Ed Ponsi Giuseppe Basile Sarid Harper Alex Ong Sam Seiden Steve Ruffley Rob Colville Nenad Kerkez Gonçalo Moreira Navin Prithyani David Pegler Walter Peters Education Brokers SECTIONS Forex Brokers Broker News Broker Spreads Contest ; NEWS | 16:09 GMT GBP/USD retraces gains, turns flat near 1.3240 as DXY gains traction By Eren Sengezer GBP/USD trades in a 30-pip range above the 1.32 mark. DXY eases below 94 in the early NA session. Market volatility remains low ahead of Thanksgiving holiday. The GBP/USD pair reached a new daily high at 1.3266 in the first trading hour of the American session but struggled to extend its gains. At the moment, the pair is trading at 1.3240, up only 5 pips on the day. BoE MPC members didn't deliver any surprises Earlier in the day, the Bank of England MPC members testified before the Treasury Select Committee (TSC). Commenting on the policy outlook, members reiterated the views from the latest BoE statement as they said they were seeing a modest tightening strategy as appropriate and rising energy prices would push the inflation higher in the short-term. On Wednesday, the UK Chancellor of the Exchequer Hammond is scheduled to deliver his first Autumn budget. BBH analysts think that this could be his first and last budget statement as they argue that he would be vulnerable to a cabinet reshuffle. On the other hand, the US Treasury-bond yields fell sharply when American traders hit their desks and pushed the DXY back below the 94 mark from its weekly high of 94.08. However, as this drop hadn't been backed by a fundamental development, the index started to erase its losses. After losing as much as 1.5%, the 10-year T-bond yield is now losing only 0.44% while the DXY is flat near the 94 handle following its quick all to 93.80. The macroeconomic calendar won't be offering any data in the remainder of the day and the pair is likely to remain confined in its daily range above the 1.32 mark. Technical outlook The pair could face the immediate support at 1.3200 (psychological level) and a daily close below that level could open the door for further losses towards 1.3150 (100-DMA) and 1.3060 (Nov. 13 low). On the upside, resistances align at 1.3280 (Nov. 20 high), 1.3320 (Nov. 1 high) and 1.3400 (psychological level). Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. RELATED TOPICS TechnicalAnalysis Majors GBPUSD LATEST NEWS Filter by topic in News Results GBP/USD retraces gains, turns flat near 1.3240 as DXY gains traction FXStreet | 16:09 GMT OPEC meets on 30 November, more curbs on the way? - UOB FXStreet | 16:03 GMT GBP/USD: intraday patterns look soft again and remains a fade - Scotiabank FXStreet | 15:58 GMT   US Dollar around 93.90 post-US data FXStreet | 15:35 GMT The hardline Brexit camp does not trust Hammond - BBH FXStreet | 15:20 GMT US: Existing-home sales increased in October to their strongest pace since early Summer FXStreet | 15:13 GMT   USD/JPY hammered down to daily lows, 112.00 mark back on sight FXStreet | 15:05 GMT United States Existing Home Sales (MoM) registered at 5.48M above expectations (5.43M) in October FXStreet | 15:02 GMT United States Existing Home Sales Change (MoM) above expectations (0.7%) in October: Actual (2%) FXStreet | 15:01 GMT   Riksbank’s Jochnick: Inflation is close to forecasts FXStreet | 14:53 GMT US stocks open with solid gains, Nasdaq hits fresh record high FXStreet | 14:47 GMT USD/CAD eases below 1.28 as DXY fails to hold above 94 FXStreet | 14:46 GMT USD/CAD neutral/bullish near term – Scotiabank FXStreet | 14:20 GMT   New Zealand GDT Price Index increased to -3.4% from previous -3.5% FXStreet | 14:18 GMT AUD/USD sticks to modest recovery gains near 0.7570 area FXStreet | 14:09 GMT Belgium Consumer Confidence Index down to 3 in November from previous 4 FXStreet | 14:01 GMT Norges Bank could hike next year – Danske Bank FXStreet | 14:00 GMT   United States Redbook index (MoM) increased to -0.7% in November 13 from previous -1.2% FXStreet | 13:57 GMT United States Redbook index (YoY) rose from previous 2.3% to 4.1% in November 13 FXStreet | 13:56 GMT AUD/USD scope for a test of 0.7475/80 – UOB FXStreet | 13:55 GMT Load More content ... ©2017 "FXStreet" All Rights Reserved FXStreet Blog Site Map Terms and conditions Contact us Advertise with us Languages Edition Spanish Italian Indonesian Portuguese Japanese Traditional Chinese Simplified Chinese Russian French Arabic Deutsch Hungarian Turkish Vietnamese Catalan Korean Disclaimer Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

<< Back to news





Trading Room Signals Brokers Watch Videos