Published at 23:55 (GMT) 08 Jul
08 Jul GBP/USD Daily
23::38 GMT - Despite the break below 1.7096 support, lack of follow -through on the downside and strong rebound from last session's low of1.7086 is turning prices into consolidation with strong resistance protecting upside at 1.7180 and only break of the latter signal bulls back in control. [W.T]
R5: 1.7471 8 Sep 2008 low
R4: 1.7320 7 Oct 2008 low
R3: 1.7203 21 Oct 2008 high
R2: 1.7180 * 4 Jul high
R1: 1.7148 8 Jul high
S1: 1.7115 intraday level
S2: 1.7086 8 Jul low
S3: 1.7063 19 Jun high
S4: 1.7007 27 Jun low
S5: 1.6970 26 Jun low
Recommended Content
Editors’ Picks
AUD/USD remained bid above 0.6500
AUD/USD extended further its bullish performance, advancing for the fourth session in a row on Thursday, although a sustainable breakout of the key 200-day SMA at 0.6526 still remain elusive.
EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: slower growth with stronger inflation
The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.