Dukascopy Bank Team
Dukascopy Bank SA
GBPUSD
The British pound depreciated 0.40% against the US Dollar since Thursday's session. During the previous session, the rate passed through the monthly PP at 1.3038 and the weekly S1 at 1.3036 to stop the trade at the 1.3017 mark. On Friday morning, the rate was resisted by the monthly PP to keep the rate to trade at 1.3032 mark.
In regards to the near-term future, most likely, the British pound will trade sideways in the pattern channel to stay at 1.2980 level during the trading day.
In addition, the simple moving averages will try to catch up the rate to give an additional resistance for the British pound to trade downwards to the bottom boundary of the medium ascending pattern.
Interested in GBPUSD technicals? Check out the key levels
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
Recommended Content
Editors’ Picks
EUR/USD holds gains near 1.0650 amid risk reset
EUR/USD is holding onto its recovery mode near 1.0650 in European trading on Friday. A recovery in risk sentiment is helping the pair, as the safe-haven US Dollar pares gains. Earlier today, reports of an Israeli strike inside Iran spooked markets.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD is rebounding toward 1.2450 in early Europe on Friday, having tested 1.2400 after the UK Retail Sales volumes stagnated again in March, The pair recovers in tandem with risk sentiment, as traders take account of the likely Israel's missile strikes on Iran.
Gold price defends gains below $2,400 as geopolitical risks linger
Gold price is trading below $2,400 in European trading on Friday, holding its retreat from a fresh five-day high of $2,418. Despite the pullback, Gold price remains on track to book the fifth weekly gain in a row, supported by lingering Middle East geopolitical risks.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Geopolitics once again take centre stage, as UK Retail Sales wither
Nearly a week to the day when Iran sent drones and missiles into Israel, Israel has retaliated and sent a missile into Iran. The initial reports caused a large uptick in the oil price.