GBP/USD

Cable gained traction in early Thursday and edges above 1.33 mark, after spike to new 2021 low (1.3194) was short-lived.

Larger bears faced strong headwinds at 1.3275/50 zone Fibo 61.8% of 1.2675/1.4249 upleg/weekly cloud base), with hammer forming on a weekly chart that could be an initial positive signal.

On the other side, overall picture on daily chart is bearish, although north-heading RSI and stochastic suggest there might be some room for bounce.

Recovery faces initial requirements on break above falling 10/20DMA’s 1.3340/1.3401) to ease bearish pressure, but upticks under 1.3513 (Nov 18 lower top) would provide better levels to re-enter bearish market, for renewed attack at weekly cloud base and attempt towards 1.3164/1.3154 (Fibo 38.2% of 1.1409/1.4249 / 200WMA).

Only sustained break above 1.3500 zone would provide relief and allow for stronger correction.

Res: 1.3340; 1.3370; 1.3401; 1.3438.
Sup: 1.3276; 1.3250; 1.3194; 1.3164.

GBPUSD

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

    1. R3 1.3413
    2. R2 1.3383
    3. R1 1.3324
  1. PP 1.3293
    1. S1 1.3234
    2. S2 1.3203
    3. S3 1.3144

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.

Feed news

Latest Forex Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD struggles to rebound, holds near 1.1150 after US data

EUR/USD trades around 1.1150 in the early American session on Friday as investors assess the latest inflation data from the US. According to the US Bureau of Economic Analysis, Core PCE Price Index rose to 4.9% on a yearly basis in December from 4.7% in November, surpassing the market expectation of 4.8%. 

EUR/USD News

GBP/USD clings to small gains above 1.3400 on mixed US data

GBP/USD posts modest daily gains slightly above 1.3400 on Friday as the dollar rally loses steam. The data from the US showed that the core PCE inflation edged higher to 4.9% in December. On a negative note, Personal Spending contracted by 0.6% on a monthly basis.

GBP/USD News

Gold recovers modestly after US data, stays below $1,800

Gold managed to stage a rebound from the multi-week low it set below $1,780 but continues to trade deep in the red near $1,790. The benchmark 10-year US Treasury bond yield is rising more than 1% on the day after US data, limiting XAU/USD's recovery.

Gold News

Bitcoin Weekly Forecast: Federal Reserve cannot tame BTC’s uptrend

Bitcoin has experienced some significant losses over the past few weeks, with a more dramatic drop occurring this week after the Fed's decision was announced. As losses have extended and BTC has entered into the $30,000 zone, concerns regarding Bitcoin being in a bear market have increased.

Read more

Apple share price set to rise after another record quarter

With the Nasdaq closing at its lowest level in seven months yesterday, the Apple share price has also found itself on the end of the recent weakness in tech shares, down over 12% from its record highs in early January.

Read more

Majors

Cryptocurrencies

Signatures