GBP/USD
Yesterday, the GBP/USD exchange rate jumped to the 1.3060 level. During Friday morning, the rate reversed south.
It is likely that the currency pair could gain support of the monthly S1 at 1.3021 and reverse north in the nearest future. In this case the pair could face the resistance formed by the weekly R1 at 1.3089.
However, if the given support does not hold, it is likely that some downside potential could prevail. Note that the exchange rate would have to surpass the support cluster formed by the 55-, 100– and 200-hour SMAs, as well the weekly PP in the 1.2970/1.3000 area.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
Latest Forex Analysis
Editors’ Picks
AUD/USD battles 0.7700 amid covid, stimulus woes-led risk-aversion
AUD/USD holds the lower ground, testing the 0.7700 level amid broad risk-aversion that has triggered a bounce in the safe-haven US dollar. Uncertainty over the US stimulus, worries over new covid strain and lockdowns weigh on the risk appetite.
GBP/USD pressured towards 1.3650 amid risk-off, ahead of UK jobs
GBP/USD remains depressed, heading towards 1.3650. The cable responds to the fresh risk-off mood after flashing a two-day losing streak. UK virus data suggests an improvement in covid conditions, Health Secretary Matt Hancock gives credits to activity restriction measures.
Gold: Bulls target daily extension
Gold is on the verge of an upside extension on a break of weekly resistance. XAU/USD is making progress with respect to the bullish market structure following a period of consolidation in recovery of the daily correction.
Ripple is South Korea’s most popular cryptocurrency, but XRP price stays pressured
XRP/USD bounces off intraday low of 0.2647, stays below 21-day SMA for fifth day. As per the latest report from Messari, Bitcoin and Ripple are the most popular cryptocurrencies in South Korea.
US Dollar Index: A breach of 90.00 exposes 2021 lows at 89.20
The inability of USD-bulls to push further north of recent tops in the 91.00 region in past sessions prompted sellers to return to the markts and shifted the attention to the potential continuation of the downtrend.