TRENDING:

XAU/USD

EUR/USD

GBP/USD bulls get rejected at 200-SMA

Christina Parthenidou XM

Overview: GBP/USD shifted into corrective mode after its upward trajectory off six-week lows was rejected near the 200-SMA, signaling fading bullish momentum and increasing downside risks in the coming sessions.

Momentum: The RSI and stochastic peaked in the overbought area and are now pushing lower. The MACD is drifting toward its red signal line, endorsing the softer price action.

Bearish scenario: A decisive break below the support trendline and the 1.3450 number could pave the way to 1.3400. Additional declines from there could extend to 1.3370.

Risk: A durable move above the 200-SMA and the 61.8% Fibonacci level of 1.3520 could revive upside pressure toward 1.3555. From there, the bulls may attempt to breach the 1.3580 mark with scope to reach May’s triple top around 1.3650.

Author

Christina Parthenidou

Christina joined Trading Point in May 2017. She holds a master degree in Economics and Business from the Erasmus University Rotterdam with a specialization in International economics.

GBP/USD stays defensive near 1.3450, US NFP eyed

GBP/USD remains defensive around 1.3450 in the European session on Friday, undermined by a broadly resilient US Dollar. The Middle East uncertainty is back in play, keeping the haven demand for the Greenback intact ahead of the all-important US Nonfarm Payrolls (NFP) data release.

EUR/USD holds above 1.1500 ahead of US jobs data

EUR/USD keeps its range above 1.1500 in European trading on Friday, as the US Dollar consolidates the recent recovery, following renewed tensions in the Middle East and on the Strait of Hormuz reopening. Traders now eagerly await the July US Nonfarm Payrolls (NFP) report for a clear directional impetus.

How Wall Street rigs the game [Video]

In this week’s Live from the Vault, Andrew Maguire is joined by Peter Antico and Sean Stone to discuss the Paradigm of Money - an in-depth expose of financial market corruption, from naked shorting to the two-tier system that protects Wall Street.

Shiba Inu Price Forecast: SHIB risks over 10% drawdown amid declining burn rate

Shiba Inu edges lower, facing downside pressure amid broader risk-off sentiment in the cryptocurrency market, including a delay in the CLARITY Act vote. The declining burn rate of SHIB tokens and retail support warn of deeper losses in the meme coin.

US Nonfarm Payrolls expected to rise by 80K in July

The United States Bureau of Labor Statistics is set to release the Nonfarm Payrolls data for July on Friday at 12:30 GMT. Investors expect NFP to rise by 80K following June’s disappointing print of 57K. The Unemployment Rate is seen holding steady at 4.2%, while the annual wage inflation, as measured by the change in the Average Hourly Earnings, is projected to remain unchanged at 3.5%.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.

GBP/USD bulls get rejected at 200-SMA

Broker Reviews

Resilient economies despite the Middle East stalemate

Dollar waits on Hormuz deal, payrolls to shape September Fed expectations

Jobs Friday

The Dollar wavers but climbs

Markets take a breather as Oil rises on geopolitical risks

FX daily: High-stakes payrolls

Editor's Picks