Real-time market insights

GBPUSD GBPUSD: cable has been volatile this past month roiled by energy price shocks, fiscal uncertainty. The last one month low was 1.3150 and high was 1.3558; sort of like the pound of old. The UK 10-year Gilt yield climbed to 5% over the past 24 hours. No data today. Buy on dips; resistance at 1.3558 and support at 1.3450; what will be key for the pair is what happens next on the fiscal side and of course energy prices and geopolitics

GBPUSD GBPUSD: cable has done a couple of flip flops these last 2 weeks. The energy price sensitive UK 10y gilt yield is now 20 bps down from its recent highs. We have the UK S&P services & composite PMI nos today. The Labour government's fiscal headroom is narrowing as escalating public debt servicing costs outpace current tax receipts, limiting autumn budget options. For the pair a break above 1.3450 opens up the target of 1.3558; below 1.3450,support at 1.3393

GBPUSD GBPUSD: cable behaving like what I vividly remember it as it used to be. The UK 10-year Gilt yield surged above the psychologically significant threshold to close at 5.06%, driven higher by stubborn domestic services sector dynamics and elevated inflation expectations. UK S&P manufacturing PMI print today. With these flip flops wait for a clear break. Right now the trades are- sell below 1.3475; with a stop at 1.3500;

GBPUSD ELLIOT WAVE GBPUSD H4 TF

GBPUSD GBPUSD: the pair moved up sharply as the Fed held and created enough uncertainty for a USD sell off. Big day for the pound with the BoE rate decision today. No change expected. So what Bailey says will be key. UK 10y gilt yields again moved past 5%; driven by global yield surges and domestic fiscal concerns. The pair remains a sell on rise- resistances at 1.3367-21 WMA; then at 1.3393; support at 1.3326

GBPUSD GBPUSD: cable rose sharply on rising oil and god knows what else- though one has to concede that the UK economy continues to exhibit green shoots. From its recent peaks it’s fallen nearly 250 pips- 2%. Good old profit booking and some bit of fiscal uncertainty. The UK 10y yield also slipped 10% to now trade below the ominous 5% level. The pair is a sell on rise. Resistance at 1.3326 & 1.3370; supply at 1.3265 & below this at 1.3150

GBPUSD GBPUSD: New Trading Opportunity

GBPUSD has undergone consecutive downward corrections and the downtrend may continue. It is expected to retest the lows in the short term. However, once price returns to the previous low around 1.32000, it will present a new buying opportunity.

GBPUSD GBPUSD: the pair now showing signs of getting back to a sell on rise structure- after a short lived shot at bullishness- during which it tested a high of 1.3558; UK 10y Bond yield remains above 5%; Manufacturing PMI: Rose to 52.8 in July (up from 52.5 in June), beating expectations. Factory output reached a 22-month high as improving demand drove up new orders. Services PMI: Surged into expansion at 51.8 (up from a contracting 48.8 in June), hitting a three-month high. It’s been a spate of good data from UK in recent times; the currency however is pressured by the uncertainty on the new PM’s fiscal expansion plan. Resistances now at 1.3326 & then at 1.3354; support at 1.3265

GBPUSD GBPUSD: the pound slid as a softer inflation print and a better than expected labour data print helped taper expectations of a rate hike somewhat. CPI dropped to 2.6% in June from 2.8% in May, coming in below the 2.7% consensus forecast. Happening on their first full day on the job, both the new UK Prime Minister and Chancellor will hope these numbers mark the beginning of a welcome trend. Data released earlier today shows June government borrowing falling to £16 billion, below the consensus forecast. The 10y yield did not drop, but it not track its global peers up; the pair remains a cautious buy on dips; resistance at 1.3393; support at 1.3326-1.3315; a break below negates the view

GBPUSD GBPUSD: Once again, the UK is experiencing the largest move in government bond yields as the 10y bond yield blew past 5%. This coincides with the new Prime Minister, Andy Burnham, recommitting to existing fiscal rules while also seeking "flexibility" within them. That spooked bond markets. Britain's new Chancellor (Finance Minister): John Healey was a surprise pick. The pair remains a buy on dips; resistance at 1.3450- beyond this at 1.3558; support at 1.3393; UK labour data today.