The GBP/USD pair trades steady below the 1.5000 figure broken late US Thursday session, extending its decline down to 1.4954 so far today, level not seen since July 2013. Strong UK Retail Sales figures that unexpectedly rose in December up 0.4% against a 0.6% drop expected.
Nevertheless, the technical picture continues to favor the downside, with the 4 hours chart showing lower lows and lower highs in today’s candles, whilst indicators maintain a negative tone below their midlines. A break through the mentioned daily low should lead to a quick slide towards the 1.4920 figure, while a break below this last exposes the 1.4860 price zone. Sellers should appear it the price manages to recover up to 1.5025 immediate resistance, with a break above it favoring a short term recovery up to 1.5060 price zone.
View Live Chart for GBP/USD
Nevertheless, the technical picture continues to favor the downside, with the 4 hours chart showing lower lows and lower highs in today’s candles, whilst indicators maintain a negative tone below their midlines. A break through the mentioned daily low should lead to a quick slide towards the 1.4920 figure, while a break below this last exposes the 1.4860 price zone. Sellers should appear it the price manages to recover up to 1.5025 immediate resistance, with a break above it favoring a short term recovery up to 1.5060 price zone.
View Live Chart for GBP/USD
Recommended Content
Editors’ Picks
EUR/USD regains traction, recovers above 1.0700
EUR/USD regained its traction and turned positive on the day above 1.0700 in the American session. The US Dollar struggles to preserve its strength after the data from the US showed that the economy grew at a softer pace than expected in Q1.
GBP/USD returns to 1.2500 area in volatile session
GBP/USD reversed its direction and recovered to 1.2500 after falling to the 1.2450 area earlier in the day. Although markets remain risk-averse, the US Dollar struggles to find demand following the disappointing GDP data.
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.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
After the US close, it’s the Tokyo CPI
After the US close, it’s the Tokyo CPI, a reliable indicator of the national number and then the BoJ policy announcement. Tokyo CPI ex food and energy in Japan was a rise to 2.90% in March from 2.50%.