GBPUSD Outlook: Bulls probe above daily cloud and focus Fibo/100SMA bariers at 1.3162/77

Slobodan Drvenica Windsor Brokers

GBPUSD

Cable remains firm and extends higher after strong rally on Wednesday, pressuring top of falling daily cloud (1.3145) and focusing key barriers at 1.3162/79 (Fibo 61.8% of 1.2472/1.2661 descend/falling 100SMA). Sterling showed little reaction on BoE's decision to keep rates unchanged and cautious stance until Brexit talks end, but rallied strongly after the dollar was hit by weaker than expected US CPI data. Growing optimism over final deal for Brexit adds to pound's positive outlook, supported by bullish daily technical studies, however, bulls may take a breather on overbought conditions. Bulls need weekly close above falling daily cloud and break through 1.3162/79 pivots, to generate stronger signal for continuation of larger uptrend from 15 Aug low at 1.2661. Speech of BoE's Governor Carney is the highlight of the European session, while US retail sales will be in focus during the US trading. Session low at 1.3101 marks initial support, followed by rising 5SMA (1.3066) and key support at 1.3011 (55SMA).

Res: 1.3145; 1.3162; 1.3179; 1.3213
Sup: 1.3101; 1.3066; 1.3043; 1.3011

Interested in GBPUSD technicals? Check out the key levels

1. R3 1.3244
2. R2 1.3184
3. R1 1.3146
PP 1.3086
1. S1 1.3048
2. S2 1.2988
3. S3 1.295

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 climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.