GBP/USD analysis: selling interest strong around 1.4000

Valeria Bednarik FXStreet

GBP/USD Current price: 1.3973

Escalating tensions between the UK and Russia undermined the Pound.
USD hit by poor local data which sent yields and equities lower.

The GBP/USD pair was unable to regain the 1.4000 level after another attempt this Wednesday, following the release of soft US Retail Sales figures. The greenback, however, enjoyed some temporal demand afterward, but gains were limited due to the softer tone of equities and yields. The Pound was particularly pressured by an international incident going on between the UK and Russia after a former spy was poisoned in the kingdom with a nerve agent. The UK expelled 23 Russian diplomats today after the communist country failed to give PM May the required explanations on the matter. Furthermore, the UK plans to "freeze Russian state assets wherever they have evidence of a threat." There won't be macroeconomic releases in the UK this Thursday. Technically, the 4 hours chart shows that the pair remains in the upper half of the ascendant channel coming from early March, also above a bullish 20 SMA, in the mentioned time frame, while technical indicators hover within positive territory, with no clear directional strength. The mentioned 20 SMA stands around 1.3910/20 providing an immediate dynamic support, for the upcoming sessions.

Support levels: 1.3960 1.3915 1.3880

Resistance levels: 1.4000 1.4040 1.4085

View Live Chart for the GBP/USD

Author

Valeria Bednarik

FXStreet

Valeria Bednarik was born and lives in Buenos Aires, Argentina. Her passion for math and numbers pushed her into studying economics in her younger years.

EUR/USD treads water around 1.1900

EUR/USD edges a tad lower around the 1.1900 area, coming under mild pressure despite the US Dollar keeps the offered stance on turnaround Tuesday. On the US data front, December Retail Sales fell short of expectations, while the ADP four week average printed at 6.5K.

GBP/USD looks weak near 1.3670

GBP/USD trades on the back foot around the 1.3670 region on Tuesday. Cable’s modest retracement also comes in tandem with the decent decline in the Greenback. Moving forward, the US NFP and CPI data in combination with key UK releases should kee the quid under scrutiny in the next few days.

Gold the battle of wills continues with bulls not ready to give up

Gold comes under marked selling pressure on Tuesday, giving back part of its recent two day advance and threatening to challenge the key $5,000 mark per troy ounce. The yellow metal’s correction follows a better tone in the risk complex, a lower Greenback and shrinking US Treasuty yields.

AI Crypto Update: BankrCoin, Pippin surge as sector market cap steadies above $12B

The Artificial Intelligence (AI) segment is largely on the back foot with major coins such as Bittensor (TAO) and Internet Computer (ICP) extending losses amid a sticky risk-off sentiment.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.

XRP holds $1.40 amid ETF inflows and stable derivatives market

Ripple trades under pressure, with immediate support at $1.40 holding at the time of writing on Tuesday. A recovery attempt from last week’s sell-off to $1.12 stalled at $1.54 on Friday, leading to limited price action between the current support and the resistance.