GBP/USD forex analysis: Advance targeting 1.3000 weekly resistance [Video]

Duncan Cooper ACY Securities

Join Senior Market Strategist & Trading Mentor Duncan Cooper as he watches price levels on the GBPUSD weekly, daily, and 4-hour charts.

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Duncan Cooper

ACY Securities

Duncan Cooper is a full-time trader and mentor. He has been actively trading the financial markets for more than 15 years and has traded stocks, options, futures, and the Forex Market since 2005.

AUD/USD holds steady above 0.7100 after Australia's weak PMIs

AUD/USD remains range-bound around 0.7100 during the Asian session on Wednesday after Australia's flash PMIs showed manufacturing slipped into contraction and services expanding slowly for a second straight month. Furthermore, a bullish US Dollar acts as a headwind for the pair as traders keenly await the crucial Trump-Xi summit on Thursday.

USD/JPY stands firm near mid-157.00s, close to two-week high

USD/JPY hovers around mid-157.00s during the Asian session on Wednesday, near a two-week high touched last Friday as the BoJ's dovish rate hike continues to undermine the Japanese Yen. Meanwhile, the US Dollar remains bullish amid the Fed's hawkish stance and geopolitical uncertainties, adding support to the pair, though JPY intervention fears cap further gains.

Gold traders seem hesitant above $4,350 as bullish USD offsets softer bond yields

Gold struggles to build on the overnight bounce from sub-$4,300 levels and consolidates during the Asian session on Wednesday amid mixed cues. The US Dollar sits near its highest level since July 30 amid the Fed's hawkish stance and geopolitical risks, capping the bullion. Meanwhile, the recent decline in oil prices eased inflation fears, keeping US bond yields depressed and supporting the non-yielding yellow metal.

Bitcoin reclaims key moving averages, altering bear cycle pattern

Bitcoin (BTC) may have altered its bear-cycle pattern after climbing above its 50-day, 100-day, 200-day, and 200-week moving averages, according to K33. In a Tuesday report, K33 noted that every time Bitcoin reclaimed all four major averages before now, it happened after the market had already established its cycle low.

Trump meets Xi: Why markets are watching this summit so closely

United States (US) President Donald Trump and Chinese President Xi Jinping are set to meet in Washington on Thursday for a summit closely watched by markets. After several months of easing trade tensions between the US and China, the meeting could determine whether the world's two largest economies extend their truce or enter a new period of uncertainty.

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