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Markets The Bank of England today as expected cut its policy rate by 25 bps to 4.50%. The communication post the MPC decision contained some mixed signals, which we in the end see as tilting to the hawkish side. But first the dovish part of the narrative. The vote was 7-2. There was consensus on […]

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07/05/2024

GBP/USD: Action Slows Ahead of BoE Policy Decision on Thursday

Cable is holding within a narrow range on Tuesday as traders await fresh signals from the key economic event for sterling this week- BoE monetary policy meeting on Thursday. Data released today (Apr UK construction PMI well above expectations and house prices inched higher) contributed to positive near-term bias, while the price stays above 200DMA […]
08/02/2024

EUR/GBP One Step Away from a Descending Stair

The euro is back at 0.8520 against the pound. The pair bounced off this level in June and August last year. Reaching the same level in late January triggered a shake-out, but active declines resumed on Tuesday and Wednesday, and the pair is testing multi-month lows with renewed vigour. Technically, a break of support at […]
07/12/2023

USDJPY’s 2023 Performance is Positive

USDJPY remains above uptrend line Bearish correction may be on the cards RSI and stochastic indicate negative move USDJPY has been in ascending movement since the beginning of 2023, but now is creating the fourth consecutive red week after the pullback off the 13-month high of 151.90. Technically, the bulls might still be in the […]