Cable is holding near s/t range highs; UK retail sales data eyed for fresh signals

Slobodan Drvenica Windsor Brokers

GBPUSD

Cable is holding at the upper side of multi-day 1.2830/1.2986 congestion and remains biased higher after upbeat UK CPI data on Tuesday and mixed jobs numbers on Wednesday supported the pair. Yesterday's acceleration higher that retested recent highs at 1.2986 and ended day in long bullish candle is positive signal. Also, daily studies in full bullish setup are supportive for final attack at psychological 1.3000 barrier, below which cable showed strong hesitation during past two weeks. On the other side, falling thick weekly cloud heavily weighs on market (cloud base lies at 1.3032) with repeated rejection under 1.3000 barrier to start generating negative signals. However, deeper pullback below 10 and 20SMA's at 1.2927/00 is needed to increase downside pressure and risk retest of lower pivots at 1.2843/30. Release of UK Retail Sales data is expected to give more clues about pair's near-term action. Forecasts are positive for Apr Retail Sales (m/m is forecasted at 1.0% vs -1.8% in Mar, while y/y forecast stands at 2.1% vs 1.7% in Mar).

Res: 1.2988; 1.3000; 1.3032; 1.3074
Sup: 1.2927; 1.2916; 1.2900; 1.2864

Interested in GBP/USD technicals? Check out the key levels

1. R3 1.3090
2. R2 1.3041
3. R1 1.3005
PP 1.2955
1. S1 1.2919
2. S2 1.2870
3. S3 1.2834

Author

Slobodan Drvenica

Windsor Brokers

Industry veteran with over 22 years’ experience, Slobodan Drvenica joined Windsor Brokers in 1995 when he was an active trader for more than 10 years, managing the trading desk and own account departments.

EUR/USD risks a deeper drop below 1.1750

EUR/USD keeps its vacillating mood in place as the the NA session drwas to a close on Tuesday, hovering below the 1.1800 hurdle amid acceptable gains in the US Dollar. In the meantime, market participants and the FX galaxy are expected to closely follow President Trump’s SOTU speech around 2AM GMT.

GBP/USD regains 1.3500 and above

GBP/USD extends its advance for the third day in a row on Tuesday, this time retesting the area beyond the 1.3500 hurdle. Cable’s uptick comes despite decent gains in the Greenback and the dovish message from the BoE’s Bailey at the UK Parliament.

Gold appears offered around $5,150

Gold is giving back a good portion of the recent multi-day rally, receding to the $5,150 zone per troy ounce amid the decent bounce in the US Dollar and mixed US Treasuty yields. In the meantime, markets’ attention remain on upcoming comments from Fed speakers.

Ripple’s DeFi shift in focus: Navigating XRPL EVM sidechain growth, XRPFi migration and liquidity

Ripple (XRP) has continued to trade under pressure, extending its decline by approximately 63% from the record high of $3.66 in July. The remittance token is trading above support at $1.35, while its upside appears limited by key supply zones, starting with $1.40, at the time of writing on Tuesday.

The Citrini report: How a debatable AI narrative can shake Wall Street

That AI-related headline alone was enough to rattle investors.US stocks slid sharply on Monday after a widely circulated Citrini Research memo outlined a hypothetical “2028 Global Intelligence Crisis”, warning that rapid AI adoption could push US unemployment into double digits as early as by mid-2028.

XRP pressured by weak ETF flows and declining retail interest

Ripple (XRP) is edging lower, trading above its intraday low of $1.32 at the time of writing on Tuesday. The decline from its weekly opening of $1.39 reflects heightened volatility in the broader cryptocurrency market, accentuated by tariff-triggered uncertainty.