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GBP/USD fell more than 800 pips in three weeks, as U.S. dollar turns positive on the year. Weak economic data, dovish BOE and recent political developments are among the drivers on the U.K.'s side of equation. The pair is taking a pause ahead of the 200 DMA and 1.35 figure as we await on U.S. labour market report for April. Momentum suggests further losses but a potentially sharp correction is to be expected at some point.
al_dcdemo's Blog
USD/CHF rises above parity level
USD/CHF retraced more than half of the 800-pip rally that it had recorded after the U.S. election. A lot will depend on politics, in both U.S. and Europe, this year but as long as SNB keeps interest rates low, the pair will remain supported.
500-pip pullback bottomed just below the top of last year's channel, near 200 DMA. The pair is now back above parity level with 50 DMA the next target. Stronger demand may start coming in between 0.995 and 1.00.
500-pip pullback bottomed just below the top of last year's channel, near 200 DMA. The pair is now back above parity level with 50 DMA the next target. Stronger demand may start coming in between 0.995 and 1.00.