GBP/USD approaches 1.3200 on healthy UK data

Pablo Piovano FXStreet

The buying interest around the British Pound is now picking up pace, lifting GBP/USD to fresh tops in the 1.3200 neighbourhood.

GBP/USD underpinned by data

Cable met extra support after UK’s industrial production and manufacturing production surprised to the upside today, expanding at a monthly 0.2% and 0.4%, respectively.

In addition, UK’s construction output expanded more than expected 0.6% inter-month, while the trade balance widened to £14.24 billion during August, more than initially forecasted.

Spot keeps its march higher intact so far today, now navigating fresh 3-day tops near 1.3200 the figure and prolonging the bounce off Friday’s lows in the 1.3020 area, coincident with the 100-day sma.

GBP/USD levels to consider

As of writing the pair is advancing 0.37% at 1.3190 and a breakout of 1.3248 (10-day sma) would open the door to 1.3262 (23.6% Fibo of the 2017 up move) and finally 1.3355 (21-day sma). On the other hand, the immediate support aligns at 1.3135 (55-day sma) seconded by 1.3027 (low Oct.6) and then 1.3020 (100-day sma).

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.

GBP/USD weakens below 1.3450 as US-Iran uncertainty boosts safe-haven US Dollar

The GBP/USD pair loses ground to near 1.3425 during the early Asian session on Tuesday. Uncertainty surrounding US-Iran talks drives traders toward a safe-haven currency such as the US Dollar against the British Pound. All eyes will be on the US July jobs data, which is due later on Friday.

EUR/USD flatlines above 1.1500 as traders turn cautious ahead of US NFP data

The EUR/USD pair holds steady around 1.1505 during the early European trading hours. Markets remain cautious ahead of the crucial US July jobs report, which is due later this week. Eurozone inflation ticked up in July, bolstering the case for a rate hike from the European Central Bank. The headline Eurozone inflation rose to 2.9% YoY in July from 2.8% in June, in line with expectations.

Gold consolidates above $4,050 amid Fed hike bets and Iran uncertainty

Gold seesaws between tepid gains and minor losses during the Asian session as traders seem hesitant and opt to wait for further developments surrounding the Middle East crisis. The US Dollar struggles to build on the previous day's solid bounce from the lowest level since Mid-June and acts as a tailwind for the bullion. However, the uncertainty over US-Iran peace talks helps limit the downside for the buck.

Ripple and Stellar steady as derivatives data points to easing downside pressure

Ripple and Stellar show mixed price action, with XRP holding above the key $1 support zone while XLM faces rejection at $0.173. Meanwhile, improving derivatives metrics alongside fading bearish momentum suggest that the downside pressure may be easing for both altcoins. Derivatives data shows mild bullish sentiment among traders.

NFP week: What awaits Bitcoin and Gold

This is an NFP week as markets brace for the release of a large influx of job market statistics. The data rollout begins with the JOLTS Job Openings report on Tuesday, continues with the ADP Employment report on Wednesday and Jobless claims on Thursday, and finishes with the Nonfarm Payrolls report on Friday.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.