GBP/USD

Cable returns above 1.40 mark and hits new 34-month high at 1.4052 after brief dip to 1.3980 in early European trading on Monday.

Bulls attempt to sustain break above psychological 1.40 barrier after registering a marginal close above last Friday (the first close above 1.40 since mid-Apr 2018).

Pound is supported by UK economic recovery hopes and signals that zero-rate is not on BoE’s agenda.

The PM Johnson will announce today a plans of gradual easing of strict measures that adds to positive sentiment.

Clear break of 1.40 pivot would open way for test of another significant barrier at 1.4090 (top of falling thick monthly cloud), violation of which would further strengthen bullish stance.

Daily studies maintain strong bullish momentum, but overbought RSI and Stochastic warn of headwinds that may result in consolidation before bulls resume.

Rising 5DMA offers initial support at 1.3953, with extended dips to find solid ground above ascending 10DMA (1.3898) and keep bulls intact.

Res: 1.4052; 1.4100; 1.4150; 1.4200
Sup: 1.3980; 1.3953; 1.3898; 1.3829

GBPUSD

Interested in GBP/USD technicals? Check out the key levels

    1. R3 1.4129
    2. R2 1.4083
    3. R1 1.4044
  1. PP 1.3998
    1. S1 1.396
    2. S2 1.3913
    3. S3 1.3875

The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Analysis feed

Latest Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD dips below 1.19 as US yields resume rise

EUR/USD has dipped below 1.19, hitting a new 2021 low. US ten-year yields have resumed their gains toward 1.60% after robust US jobs figures and the Fed's reluctance to intervene. German industrial output disappointed with -2.5% in January.

EUR/USD News

GBP/USD pressured toward 1.38 amid worsening mood

GBP/USD has been under pressure despite Britain's reopening and due to higher US yields. BOE Governor is slated to speak later in the day.

GBP/USD News

S&P 500: Inflation jitters still weigh on investors minds

Inflation fears haven't gone away despite Friday's remarkable session that saw markets completely turnaround from intraday lows. At one stage on Friday Tesla was down nearly 13% but staged a 9% rally to close 3.8% lower!

Read more

Bitcoin bulls pick the baton as $54,000 beckons

Norway's gas giant Aker invests part of its funds in BTC, believes the growth is inevitable. BTC must hold above $50,000 to ensure that focus remains on $54,000. ETH is nurturing a potential technical breakout aiming for levels above $2,000.

Read more

US Dollar Index: Next on the upside emerges 92.46

DXY pushes higher and record new 2021 highs around 92.30. The next hurdle is located at the Fibo level at 92.46.

US Dollar Index News

Forex Majors

Cryptocurrencies

Signatures