The GBP/USD pair eases at the beginning of this Wednesday, although the pair is managing to hold above the 1.4700 level, posting a shallow bounce after its first attempt to break below it. There have been no news in the UK, and Europe will gather all of the attention today.
In the meantime, the 4 hours chart shows that the price is still holding above its 20 SMA, currently in the 1.4660 region, whilst the technical indicators are heading lower, but remain above their mid-lines. Should the price accelerate below the mentioned daily low, it will likely reach the mentioned 1.4660 region, whilst if this last gives up, the slide can extend down to 1.4620 later on in the day. Some follow through above 1.4740 on the other hand, should lead to an advance up to the 1.4800 area, with a break above it supporting a rally up to 1.4850 for the upcoming sessions.
View live chart of the 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 climbs above $2,340 following earlier drop
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%.