GBP/USD: Downside bias capped near 1.3305 – UOB

FXStreet Insights Team FXStreet

UOB analysts report GBP/USD easing to around 1.3340, with the intraday bias still lower but momentum not strong enough for a deeper slide. They see declines likely limited to a test of 1.3305, with resistance at 1.3355/1.3375. Over 1–3 weeks, they maintain a mixed outlook, expecting range trading between 1.3220 and 1.3480.

Mild downside within broader range

"While the bias remains on the downside, given that there is no significant increase in momentum, any decline is likely limited to a test of 1.3305."

"Resistance is at 1.3355; a break above 1.3375 would indicate that the downside bias has faded."

"Outlook is mixed; GBP could trade between the two major levels of 1.3220 and 1.3480."

"A weekly close below the key support at 1.3300 could trigger a decline toward the major support zone at 1.2945/1.3010."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

AUD/USD extends the range play above 0.7200 as traders await US inflation data

AUD/USD is seen extending its consolidative price move above 0.7200 during the Asian session on Thursday amid mixed cues. Rising RBA rate-hike bets keep the Aussie close to its highest level since May 14. However, hawkish Fed expectations and escalating US-Iran tensions offer some support to the US Dollar, capping the currency pair as traders await US inflation figures.

USD/JPY consolidates around 153.50 as bears turn cautious ahead of US inflation

USD/JPY stabilizes above 153.50 during the Asian session on Thursday, but remains near a seven-month low set earlier this week as hawkish BoJ repricing continues to underpin the Japanese Yen. Meanwhile, rising September Fed rate-hike bets and escalating US-Iran tensions help ease US Dollar selling pressure, offering some support to the currency pair ahead of US inflation figures.

Gold regains balance above $4,400

Gold rebounds on Wednesday, snapping a three-day losing streak and reclaiming the are beyond the key $4,400 mark per troy ounce. The precious metal’s bounce comes amid further selling pressure on the US Dollar and steady uncertainty on the geopolitical front.

Bitcoin outperforms global assets as $83K-$86K resistance zone continues to weigh on rally

Bitcoin (BTC) has continued to recover from its mid-year weakness, outperforming major traditional assets over the past month, amid strong resistance around the $83,000 to $86,000 range. BTC gained 23% over the past 21 trading sessions, while the S&P 500 and Nasdaq 100 were broadly flat and the Euro Stoxx 50 declined, according to a Glassnode report published Wednesday.

Private credit books a Fed hike as income until borrowers stop paying

Seven of the largest publicly traded business development companies (BDCs) state in their June quarter filings what a rise in the base rate is worth to them. Across the seven, 100 basis points adds $677.1 million of annualised interest and dividend income and $367.2 million of net income.

Venezuela’s 65-billion-barrel Oil deal could reshape America’s inflation fight

The United States (US) has secured unprecedented access to part of Venezuela’s vast Oil reserves. The timing is particularly significant as the war with Iran is disrupting Middle Eastern supplies, keeping energy prices elevated and reviving concerns about inflation.