GBP/USD: sterling continues to hold up well as Cable builds upon Wednesday [Video]

Richard Perry Independent Analyst

GBP/USD

Sterling continues to hold up well as Cable builds upon Wednesday’s bull breach of resistance. We are now cautiously positive on outlook. The move is helping to solidify the medium term support of the band $1.2900/$1.3000 as the lows of $1.2950 and $1.2960 have been formed in the past two weeks. Momentum indicators are tentatively edging positively again, with the RSI above 50, MACD lines turning positive around neutral and Stochastics rising. The reason for caution is that the market has not kicked on with the breakout above $1.3117 this week. It has been met by consolidation. The 23.6% Fibonacci retracement (of the big bull run $1.2192/$1.3515) comes around $1.3200 and is another resistance area. Getting through here would see the outlook really progressing for the Cable bulls. The hourly chart shows initial support at $1.3095 with $1.3030 a minor higher low.

Author

Richard Perry

Independent Analyst

EUR/USD keeps the bid bias just over 1.1800

EUR/USD has started the week on a positive foot, hovering around the 1.1800 region in the latter part of Monday’s session. The pair’s recovery comes on the back of a decent decline in the US Dollar, as investors keep their attention on the evolving US–EU trade relationship after President Trump’s announcement of sweeping global tariff hikes.

GBP/USD looks stuck around 1.3500 amid firm gains

GBP/USD is pushing further north on Monday, revisiting the 1.3500 hurdle and beyond. Cable’s uptick is largely being fuelled by the broader softness in the Greenback, amid lingering uncertainty around tariffs.

Gold pops above $5,200, four-week highs

Gold is holding onto its bullish tone on Monday, reaching new multi-week highs just past the $5,200 mark per troy ounce. Fresh trade-war concerns, coupled with rising geopolitical tensions in the Middle East, are keeping demand for the yellow metal well on the rise.

Crypto Today: Bitcoin, Ethereum, XRP intensify sell-off as tariff uncertainty weighs

Bitcoin, Ethereum and Ripple are trading amid increasing selling pressure at the time of writing on Monday, as investors react to fresh trade uncertainty over US President Donald Trump’s push for more tariffs.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

XRP recovers slightly as bearish sentiment dominates crypto market

Ripple is rising above $1.40 at the time of writing on Monday amid fresh tariff-triggered headwinds in the broader cryptocurrency market. The sell-off to $1.33, the token’s intraday low, can be attributed to macroeconomic uncertainty, geopolitical tensions and risk-averse sentiment among other factors.