GBP USD

DAX rises to record highs despite weak PMI data. GBP/USD falls as UK services PMI falls to its lowest level in a year.

GBP/USD may stage additional attempts to test the May low (1.2446) as a bear-flag formation appears to be taking shape.

Sr. Technical Strategist Michael Boutros highlights the levels that matter on the USD Majors, commodities & stocks into the weekly / monthly open.

EUR/USD and AUD/USD are heading into their strongest month, hinting at rally potential after November drops.

GBP/USD held steady on Friday but is on track for its largest weekly rise since mid-September as the US dollar gave back some of its Trump victory gains.

DAX rises ahead of inflation data. GBP/USD falls after stronger US data & UK service sector gloom.

GBP/USD may attempt to test the May low (1.2446) if it fails to defend the monthly low (1.2487).

British Pound plunged for an eighth week with a 7% decline off the yearly high now testing the key support. Battle lines drawn on the GBP/USD weekly technical chart.

GBP/USD falls to a fresh monthly low (1.2576) as it gives back the advance from the start of the week.

In the FX space, the yen was also bid, supported by some hawkish remarks from the BoJ governor, implying a rate hike was not off the table in December. Elsewhere, the EUR/USD broke below the 1.05 handle amid hawkish repricing of US rates and ongoing concerns over Eurozone economy, while the GBP/USD slipped near the 1.26 level, potentially on the verge of breaking further lower. The GBP/USD outlook thus remains bearish.

While headlines were fixated on Nvidia and the origin of missiles, the real story for EUR/USD and GBP/USD on Wednesday was US yield movements, driving the latest twists in forex markets.