Patterns: GBP/AUD, GBP/CAD

Dukascopy Bank Team Dukascopy Bank SA

GBP/AUD 4H Chart: Buying signals

The British Pound has surged by 3.01% against the Australian Dollar since October 14. The GBP/AUD currency pair tested the 1.8500 level during last week's trading sessions.

As for the near future, the exchange rate is likely to continue to trend in an ascending channel pattern. Bulls could target the 1.8600 level during the following trading sessions.

However, a resistance cluster formed by the 50– period simple moving average and the weekly pivot point at 1.8326 could provide resistance for the currency exchange rate in the shorter term.

GBP/CAD 4H Chart: Could continue to edge up

The Pound Sterling has edged higher by 2.20% against the Canadian Dollar since October 14. The exchange rate breached the 1.7300 level during last week's trading sessions.

Everything being equal, the currency pair could continue to surge in an ascending channel pattern. Bearish traders are likely to target the 1.7400 area within this week's trading sessions.

However, the weekly resistance level at 1.7290 could provide a barrier for bulls during the following trading sessions.

Author

Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.