GBP/USD: A break below 1.3670 is not ruled out – UOB

Pablo Piovano FXStreet

In opinion of FX Strategists at UOB Group, Cable could still breach the 1.3670 level in the short-term.

Key Quotes

24-hour view: “GBP dipped to 1.3670 last Friday before staging a mild recovery. Despite the bounce from the low, it is too soon to expect a sizeable rebound. For today, GBP is more likely to consolidate and trade sideways, expected to be within a 1.3670/1.3740 range.”

Next 1-3 weeks: “Last Thursday (08 Apr, spot at 1.3745), we indicated that ‘there is room for GBP to test last month’s low near 1.3670’. We added, ‘at this stage, the prospect for a sustained decline below this level is not high’. GBP subsequently dropped to 1.3670 on Friday before recovering slightly. Downward momentum has not improved by much but a clear break of 1.3670 is not ruled out. However, any further weakness is expected to struggle to move below the next support at 1.3640. On the upside, a break of 1.3780 (‘strong resistance’ level previously at 1.3840) would indicate that the current downward pressure has eased.”

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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.