GBP retains a soft undertone – Scotiabank

Source Fxstreet

The Pound Sterling (USD) is down marginally on the session but, like many of its G10 counterparts, the pound has settled into a tight trading range into the end of the week, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

Gilts underperform again

“UK bonds remain marginal underperformers but 10Y yields are up only fractionally more than peer markets (a 2.5bps gain in UK yields versus a 2 bps rise in core Eurozone debt, for example). The UK government’s fiscal plans remain under threat from the rise in UK bond yields but comparisons with the 2022 market rout remain wide of the mark, I think.”

“Spot is holding an inside range (holding within yesterday’s intraday range) signal on the daily chart so far—a signl that may suggest some relenting—in the short run, at least—in the bearish pressure on the GBP. The broader picture remains bearish, however, amid bearish trend indicators across the short-, medium-, and long-term oscillators.”

“Gains will be hard to sustain and losses easier to come by in this environment. Resistance is 1.2350/60. Support is 1.2240/50.”

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold rebounds to $3,946 off $3,870 as oil does the Fed's work — but the ETF bid is still missingGold closed at $3,946, up 1.84% from a one-year low of $3,870.25, as Brent's 7.6% slide cut December hike odds to 77%. ETF holdings are still shrinking — a short-covering bounce, not new money.
Author  Irene Q.
Nov 03, Tue
Gold closed at $3,946, up 1.84% from a one-year low of $3,870.25, as Brent's 7.6% slide cut December hike odds to 77%. ETF holdings are still shrinking — a short-covering bounce, not new money.
placeholder
Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - November 5, 2026Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 5, 2026. Read on for the details.
Author  Mitrade
Nov 05, Thu
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 5, 2026. Read on for the details.
placeholder
Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - November 6, 2026Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 6, 2026. Read on for the details.
Author  Mitrade
Yesterday 01: 36
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 6, 2026. Read on for the details.
placeholder
Gold's $250 week runs into the last payrolls before DecemberSpot gold traded at $4,080.79 after a roughly 6% weekly rally from the Oct 30 low of $3,869.85, touching $4,146.63 on Nov 5. Three bids are stacked into the move: real-rate relief, record official-sector buying, and a geopolitical premium. Tonight's October payrolls (+65K consensus, 4.2% unemployment) decide which bid survives, with $4,000 and $4,200 as the two lines.
Author  Irene Q.
Yesterday 03: 03
Spot gold traded at $4,080.79 after a roughly 6% weekly rally from the Oct 30 low of $3,869.85, touching $4,146.63 on Nov 5. Three bids are stacked into the move: real-rate relief, record official-sector buying, and a geopolitical premium. Tonight's October payrolls (+65K consensus, 4.2% unemployment) decide which bid survives, with $4,000 and $4,200 as the two lines.
placeholder
Micron's $4.5 billion Taiwan fab won't make a chip until 2028 — the market sold it as a 2026 problemMicron fell 17.46% to $656.39 after Bloomberg reported construction at its $4.5 billion Taoyuan Fab 11E had all but halted over a labor dispute. The plant was not due online until 2028, so no 2026 output is lost. With FY27 EPS consensus near $160 and 2027 HBM sold out, the selloff is a peak-cycle multiple reset, not a demand collapse — and $650 is the line that separates the two.
Author  Irene Q.
Yesterday 03: 28
Micron fell 17.46% to $656.39 after Bloomberg reported construction at its $4.5 billion Taoyuan Fab 11E had all but halted over a labor dispute. The plant was not due online until 2028, so no 2026 output is lost. With FY27 EPS consensus near $160 and 2027 HBM sold out, the selloff is a peak-cycle multiple reset, not a demand collapse — and $650 is the line that separates the two.
Related Instrument
goTop
quote