GBP/USD analysis: US CPI surge reaches 1.3750

Dukascopy Bank Team Dukascopy Bank SA

GBP/USD

The surge of the GBP/USD that was caused by the US Consumer Price Index release has reached the 1.3750 level's resistance. The round exchange rate level forced the pair into a retracement back down just before mid-day on Thursday. The consolidating decline appeared to be finding support in Wednesday's high level at 1.3715.

If the GBP/USD currency exchange rate continues to surge, it would have to pass the 1.3750 level. A move above 1.3750 level would have no technical resistance as high as the weekly R3 simple pivot point at 1.3820. However, the 1.3800 mark might act as resistance.

Meanwhile, if the Pound starts to decline again the US Dollar, the rate might look for support in the 1.3715 level, the weekly R2 simple pivot point at 1.3709 and the 1.3700 mark. Further below, the 50-hour simple moving average was located near 1.3670.

Author

Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

EUR/USD flat lines around 1.1900; looks to US NFP report for fresh directional impetus

The EUR/USD pair is seen oscillating in a narrow trading band around the 1.1900 mark during the Asian session on Wednesday as traders opt to wait for the release of US monthly employment details before placing fresh directional bets.

GBP/USD slips back to daily lows near 1.3640

GBP/USD drops to daily lows near 1.3640 as sellers push harder and the Greenback extends its rebound in the latter part of Tuesday’s session. Looking ahead, the combination of key US releases, including NFP and CPI, alongside important UK data, should keep the pound firmly in focus over the coming days.

Gold awaits US Nonfarm Payrolls data for a sustained upside

Gold remains capped below $5,100 early Wednesday, gathering pace for the US labor data. The US Dollar licks its wounds amid persistent Japanese Yen strength and potential downside risks to the US jobs report. Gold holds above $5,000 amid bullish daily RSI, with eyes on 61.8% Fibo resistance at $5,141.

Ethereum: Whales buy the dip amid rising short bets

Following one of Ethereum's largest weekly drawdowns, whales are slowly returning to action alongside a drop in retail selling pressure. After slightly selling into the decline at the start of the month, whales or wallets with a balance of 10K-100K ETH began buying the dip last Wednesday as prices crashed further.

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.