GBP/USD finds resistance below 1.30, holds strong bullish tone

Matías Salord FXStreet

The pound jumped in the market following Mark Carney comments regarding monetary stimulus. GBP/USD rose from 1.2830 toward 1.3000. After reaching 1.2975, the highest level since June 8 it lost strength and pulled back.

The retreat from the highs found support at 1.2920 and currently it trades at 1.2940/45, up more than a hundred pips for the day, having the best performance since April.

Thanks to Carney

The Governor of the Bank of England, mentioned that the removal of some stimulus would be needed if the economy improves. He added that the tolerance of the Monetary Policy Committee for inflation above the target was limited. Those words triggered an intensive rally of the pound.

“This is a significant shift in policy bias – especially given that it was just over a week ago that Governor Carney told us that “now is not yet the time [to begin raising interest rates]”. One has to question the underlying rationale for this 'U-turn' and whether Bank officials have all of sudden seen some inflationary pressures in the UK economy that we have not”, said Viraj Patel, Foreign Exchange Strategist at ING.

Carney changes his mind, GBP soars - BBH

The change in the tone from Carney is giving support to the pound for an extension of the rally. A test of 1.3000 in the next sessions seems likely. Above that area, the next level to watch is 1.3045/50 (2017 highs).

Yesterday GBP/USD moved above the 20-day moving average that stands at 1.2775 and today, it received a fundamental boost from Carney.

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

EUR/USD clings to humble gains around 1.1780

EUR/USD manages to reverse Tuesday’s pullback, sticking to daily gains around 1.1780 following an earlier bull run past 1.1800 the figure. The pair’s slight advance comes on the back of the equally marginal uptick in the US Dollar, as investors continue to closely follow developments on the trade front and news from the White House.

GBP/USD flirts with weekly tops north of 1.3500

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 marginal advance in the Greenback and a generalised improved mood in the risk-associated universe. Meanwhile, the US tariff narrative continues to dictate the mood among market participants.

Gold picks up pace, focus on $5,200

Gold buyers are stepping back in on Wednesday, with sights set on $5,200 and potentially higher, after Tuesday’s pullback from monthly highs. The yellow metal’s recovery follows some loss of momentum in the US Dollar after Trump’s SOTU speech failed to deliver fresh impetus and AI-related jitters continue to fade.

Bitcoin, Ethereum and Ripple post cautious recovery amid downside risks

Bitcoin, Ethereum, and Ripple are posting a cautious recovery on Wednesday following a market correction earlier this week. BTC is approaching a key breakdown level, while ETH and XRP are rebounding from crucial support levels.

Nvidia remains at the heart of the AI boom

Nvidia remains at the heart of the AI boom, with Q4 revenue projected near $65.6–66.1 billion, nearly 70% higher year-over-year. But investors are watching cash flow, leverage, and broader AI adoption. Growth is strong, but the AI stress isn’t over.

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.