GBP/USD losses momentum at the 1.3165 five-year resistance line – Commerzbank

FXStreet Team FXStreet

GBP/USD prints 0.14% loss as is trading closer to 1.31 down from the highs closer to 1.32 recorded yesterday. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, sees the cable correcting lower as the 1.3165 2015-2020 downtrend has proven to be too tough for the pound. Initial support awaits at 1.2814, the June high.

Key quotes

“GBP/USD’s new high of 1.31856 has been accompanied by a 13 count and divergence of the daily RSI. It is facing tough resistance at the 1.3165 2015-2020 downtrend and the 1.3201 March 2020 high and the risk of a correction lower is now high.”

“Dips lower are expected to find initial support at the 1.2814 June high ahead of 200-day ma at 1.2707 and remain contained by the 1.2588 support line.”

“Above 1.3213 (February high) will target the 1.3500/15 the December 2019 high and the January 2009 low.”

Author

FXStreet Team

FXStreet

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.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

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.