Following
GBP/USD Weekly Forecast: Time to hit highest level since 2018? US data, UK vaccines keyANALYSIS |
5/21/2021 3:15:19 PM GMT
GBP/USD has been grinding its way higher amid twin Fed and UK reopening speculation.
Cable is set to move in response to British covid figures, US GDP and other data.
Late May s daily chart is still pointing to a lead for the bulls.
The FX Poll is pointing to a short-term rise before falls later on.
To taper or not to taper? That has been the question for the Federal Reserve and the dollar, while uncertainty about the UK reopening played a role in moving the pound. US economic releases such as GDP and Durable Goods Orders are set to rock the greenback in the last full week of May.
Apr 30, 2021 09:03 GMTForex News
GBP/USD has been edging off the highs as rising US yields boost the dollar.
PM Johnson’s issues and upbeat US data could drag cable down.
Friday’s four-hour chart is pointing to gains.
Fundamentals or technicals?
The last day of the month is already set to be choppy amid last-minute portfolio adjustments, and the contradicting signals between both approaches may cause more confusion. However, two factors may outweigh what the charts show.
First, the greenback is making a comeback and this is set to extend. The
dollar suffered from the Federal Reserve’s dovish decision on Wednesday, in which the central bank rejected tapering down its bond-buying scheme, stressed inflation is transitory and said that the economy has a “long way to go.” However, figures published on Thursday showed that way is shorter.
4/30/2021 9:07:44 AM GMT | By FXStreet Insights Team
EUR/USD has been edging lower after weak German GDP and rising US yields. Yohay Elam, an Analyst at FXStreet, explains why this slide may be more than a casual correction.
The slide from 1.2150 to 1.21 is probably not the usual buy the dip opportunity
“Friday is the last end of the week and also the final day of April, and that means that money managers may be adjusting their portfolios. At current levels, the currency pair is some 400 pips off the levels at the beginning of the month, implying room for a downward correction.”