GBPUSD holds negative tone under daily cloud; UK data in focus

Slobodan Drvenica Windsor Brokers

GBPUSD

Cable is in directionless mode in early Tuesday’s trading but maintaining negative bias following Monday’s bearish close and awaiting UK data for fresh signals.
Rising 100SMA and Fibo 61.8% of 1.2773/1.3655 (1.3112/10) are marking immediate supports which kept the downside protected in past few sessions despite multiple spikes lower.
Overall structure is bearishly aligned with negative tone persisting while daily cloud caps (cloud base lies at 1.3214).
Plethora of MA barriers that lies in between also weighs on near-term action for clear break of 100SMA and test of key supports at 1.3038/26 (02 Nov / 06 Oct low) which mark the base of five-week congestion between 1.3026 and 1.3337.
Better than expected data today would lift pound however, sustained break above daily cloud (1.3214/1.3262) is needed to confirm bullish action.
Conversely, disappointing numbers would risk final break through 1.3038/26 pivots for continuation of broader downtrend from 1.3655 (20 Sep peak.

Res: 1.3139; 1.3165; 1.3176; 1.3214
Sup: 1.3090; 1.3061; 1.3038; 1.3026

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 hovers around nine-day EMA above 1.1800

EUR/USD remains in the positive territory after registering modest gains in the previous session, trading around 1.1820 during the Asian hours on Monday. The 14-day Relative Strength Index momentum indicator at 54 is edging higher, signaling improving momentum. RSI near mid-50s keeps momentum balanced. A sustained push above 60 would firm bullish control.

GBP/USD holds medium-term bullish bias above 1.3600

The GBP/USD pair trades on a softer note around 1.3605 during the early European session on Monday. Growing expectation of the Bank of England’s interest-rate cut weighs on the Pound Sterling against the Greenback.

Gold sticks to gains above $5,000 as China's buying and Fed rate-cut bets drive demand

Gold surges past the $5,000 psychological mark during the Asian session on Monday in reaction to the weekend data, showing that the People's Bank of China extended its buying spree for a 15th month in January. Moreover, dovish US Federal Reserve expectations and concerns about the central bank's independence drag the US Dollar lower for the second straight day, providing an additional boost to the non-yielding yellow metal.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Weekly column: Saturn-Neptune and the end of the Dollar’s 15-year bull cycle

Tariffs are not only inflationary for a nation but also risk undermining the trust and credibility that go hand in hand with the responsibility of being the leading nation in the free world and controlling the world’s reserve currency.

Bitcoin, Ethereum and Ripple consolidate after massive sell-off

Bitcoin, Ethereum, and Ripple prices consolidated on Monday after correcting by nearly 9%, 8%, and 10% in the previous week, respectively. BTC is hovering around $70,000, while ETH and XRP are facing rejection at key levels. Traders should be cautious: despite recent stabilization, upside recovery for these top three cryptocurrencies is capped as the broader trend remains bearish.