GBP/JPY attempts recovery ahead of UK PM May’s speech

Omkar Godbole FXStreet Contributor

The GBP/JPY cross is attempting a break above 137.58 (50% fib retracement of Nov 9 low - Dec 15 high) ahead of the UK PM May’s speech, which could offer insights into whether the government is ready for ‘hard Brexit’.

Supported by monthly 5-MA

The sellers ran out of steam around the monthly 5-MA level of 136.98 on Monday. The pair clocked a high of 138.15 on Monday after PM May’s spokesperson denied ‘hard Brexit’ talks.

However, the bounce was short-lived as the markets did not buy the denial. It remains to be seen if PM May’s Hard Brexit talk later today is well received by the markets.

GBP/JPY Technical Levels

The pair was last seen trading around 137.58 (50% fib). A break above the same would open the doors to 138.51 (Nov 29 low) and then to 138.97 (5-DMA). On the other hand, a breakdown of support at 137.09 (session low) would expose 136.45 (previous day’s low) and 136.01 (100-DMA).

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

EUR/USD gathers traction, approaches 1.1800

EUR/USD manages to reverse Tuesday’s pullback, advancing to two-day highs near the 1.1800 hurdle in the latter part of Wednesday’s session. The pair’s decent uptick comes on the back of the modest retracement in the US Dollar, as investors continue to closely follow developments on the trade front and news from the White House in the wake of President Trump’s SOTU speech.

GBP/USD challenges multi-day highs near 1.3530

GBP/USD leaves behind the previous day’s decline and regains fresh upside traction on Wednesday, surpassing the 1.3500 barrier in a context of a modest decline in the Greenback and a generalised improved mood in the risk-linked space. Meanwhile, the US tariff narrative continues to dictate the mood among market participants after Presidet Trump’s SOTU speech failed to surprise markets.

Gold remains bid and close to $5,200

Gold buyers are returning to the fold on Wednesday, targeting the $5,200 area and possibly beyond, after Tuesday’s corrective dip from monthly highs. The rebound in the precious metal comes as the US Dollar loses traction, with Trump’s SOTU speech offering little fresh direction and AI-related nerves continuing to ease.

Crypto Today: Bitcoin, Ethereum, XRP test rebound strength as ETF inflows return

Bitcoin, Ethereum and Ripple are gaining traction at the time of writing on Wednesday, amid persistent market doldrums. The Crypto King is up over 2% intraday, trading above $65,000 from the day’s opening of $64,058.

Nvidia earnings to influence AI trade and broader market sentiment

For the last three years, Nvidia has been the engine of the AI boom, and now Wall Street is watching to see whether that momentum can keep going. High-growth stocks have been struggling to maintain their bullish trend in 2026.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.