GBPUSD - downside remains at risk, as recovery attempts fade

Slobodan Drvenica Windsor Brokers

GBPUSD

Yesterday’s daily candle with long upper shadow confirms persisting downside pressure, as fresh easing today signals recovery attempts fading. Daily Tenkan-sen & Kijun-sen lines are turning south after brief sideways mode, reinforcing overall bearish structure, as the price holds below 1.2200 handle and fresh weakness cracked support at 1.2142 (Fibo 76.4% of 1.2087/1.2323 recovery) the last hurdle on the way to 1.2087 (low of Tuesday’s strong bearish acceleration).
Selling upticks remains favored near-term scenario, with Wednesday’s high at 1.2323, marking solid barrier.
Only sustained break above 1.2400 (Fibo 38.2 of 1.3055/1.1997 downleg) would sideline immediate downside risk and signal stronger recovery action.

Res: 1.2212; 1.2255; 1.2323; 1.2370
Sup: 1.2131; 1.2102; 1.2087; 1.1997

Interested in GBPUSD technicals? Check out the key levels

1. R3 1.2543
2. R2 1.2435
3. R1 1.2321
PP 1.2213
1. S1 1.2099
2. S2 1.1991
3. S3 1.1877

Author

Slobodan Drvenica

Windsor Brokers

Industry veteran with over 22 years’ experience, Slobodan Drvenica joined Windsor Brokers in 1995 when he was an active trader for more than 10 years, managing the trading desk and own account departments.

EUR/USD struggles to build on recent rebound, holds above 1.1550

EUR/USD trades marginally lower on the day but holds above 1.1550 in the American session, following Thursday's rebound. The pair holds near its intraday high as the US Dollar remains pressured by hopes the Middle East conflict will soon come to an end.

GBP/USD hovers around 1.3400 as investors await war clarity

GBP/USD remains near its daily open, not far from 1.3400, in the second half of Friday's session. The US Dollar lost its previous intraday strength and weakens as investors await clarity on the US-Iran war.

Gold stabilizes above $4,200 as wait-and-see continues

After rising more than 3% on Thursday, Gold (XAU/USD) stabilized around the $4,200 mark in the American session on Friday. The US dollar seesaws between gains and losses, but remains within familiar levels as investors remain skeptical yet hopeful about a resolution to the Middle East conflict.

Crypto Today: Bitcoin, Ethereum, XRP recovery slows amid incessant capital outflows

The cryptocurrency remains in a broader corrective bias on Friday, despite majors such as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) holding slightly higher than early-week support levels.

SpaceX launches 24% higher at Friday debut

Space Exploration Technologies (SPCX), aka SpaceX, zoomed 24% higher soon after the start of its first IPO trading day on Friday. Shares of the rocket and artificial intelligence (AI) company founded by Elon Musk began trading at about 11:46 am EST and quickly gained speed.

4.2% headline, 0.2% core: Why the Fed's next hike may be targeting the wrong problem

May's CPI put headline inflation at 4.2% on the year, up from 3.8% in April and the hottest reading since April 2023, while core prices rose just 0.2% on the month, undershooting the 0.3% consensus and halving April's pace.