TRENDING:

XAU/USD

Silver

GBP/USD: Bearish below 1.3050 for 1.2810

Stoyan Mihaylov DeltaStock.com

EUR/USD Current level - 1.1727

The overall outlook remains bearish after the recent low at 1.1687, for a slide towards 1.1580 major support zone. Intraday, there is a risk of a brief spike to 1.1780 area.

resistance
intraday	intraweek
1.1780	1.1909
1.1825	1.2000

support
intraday	intraweek
1.1650	1.1580
1.1580	1.1480

resistance

intraday

intraweek

1.1780

1.1909

1.1825

1.2000

support

intraday

intraweek

1.1650

1.1580

1.1480

USD/JPY Current level - 109.94

The bias is still bearish below 110.30 minor resistance, for a dive towards 108.80 zone.

resistance
intraday	intraweek
110.25	112.20
111.04	114.50

support
intraday	intraweek
109.50	108.80
108.80	108.10

resistance

intraday

intraweek

110.25

112.20

111.04

114.50

support

intraday

intraweek

109.50

108.80

108.10

GBP/USD Current level - 1.2971

The consolidation pattern above 1.2950 is running out of steam, so 1.3050 resistance is expected to cap the upside and to provoke another leg downwards, to 1.2810 area.

resistance
intraday	intraweek
1.3050	1.3260
1.3100	1.3500

support
intraday	intraweek
1.2930	1.2930
1.2810	1.2810

resistance

intraday

intraweek

1.3050

1.3260

1.3100

1.3500

support

intraday

intraweek

1.2930

1.2810

Author

Stoyan Mihaylov

DeltaStock.com

Stoyan Mihaylov, 42 years old, a Financial Analyst at Deltastock Inc, has an sixteen-year background as a senior FX Dealer, trading spot and outright forwards.

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.