The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
Tag - gbp
The market is mixed this Wednesday, with the AUD and the NZD tipping out on their recent bullish advances, oil consolidating at the local resistance level, and gold getting back to an upward trajectory.
GBP/USD formed a “Piercing line” pattern on the D1. The pair rose to the resistance line that connects April 30 and May 8 highs.
The British pound is going up, while gold is correcting
The British Flash Manufacturing PMI will be announced on Thursday at 11:30 MT time.
The coronavirus has changed everything. When analysts gave forecasts for 2020 at the end of last year, no one could foresee that the whole world would be seized by the pandemic.
Oil and gold are rising, the currency market is mixed - watch the new weekly outlook to see what's moving!
GBP/AUD opened the week with a gap down. Things like that have already happened before and, back then, the price continued its way down.
GBP/CHF slipped below the 50-day MA this week. The line is currently acting as resistance at 1.1905. Earlier declines below it led to bigger moves down.
Traders await the speech of the Fed's Chair Jerome Powell. The USD is under pressure. Watch the video to get the outlook for the major currencies today!
Let’s look at the factors that move the British pound and what restrictions it can meet on its way.
Investors are weighing in the potential of the second wave of the virus hit, the movement across the Forex market is relatively cautious.