The GBP/USD pair pressures the 1.5700 level, having been as low as 1.5676 earlier on the day. The pair failed to pick up despite local employment data was slightly encouraging showing the unemployment rate remained unchanged at 6.0%, and earnings rose again, albeit maybe not as fast as the BOE would like. The Central Bank also released the Minutes of its latest meeting that showed policy makers voted 7-2 to keep interest rates at a record low as expected.
Technically, the price develops inside an ascendant channel, clear in the 4 hours chart, but technical readings show no directional strength: the price is standing around a flat 20 SMA while indicators turned lower at neutral territory. The mentioned daily low of 1.5676 stands as immediate support in route to the base of the channel at 1.5630. Selling interest continues to wait in the 1.5750/70 area and it will take some steady advance above the area, to confirm a stronger advance up to 1.5825.
View Live Chart for GBP/USD
Technically, the price develops inside an ascendant channel, clear in the 4 hours chart, but technical readings show no directional strength: the price is standing around a flat 20 SMA while indicators turned lower at neutral territory. The mentioned daily low of 1.5676 stands as immediate support in route to the base of the channel at 1.5630. Selling interest continues to wait in the 1.5750/70 area and it will take some steady advance above the area, to confirm a stronger advance up to 1.5825.
View Live Chart for GBP/USD
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.