GBP/USD recedes from fresh 2-month peaks near 1.2880

Cable prints multi-week peaks near 1.2880.
PM May hinted at the likeliness that MPs could support her plan.
UK’s crucial vote is scheduled for tomorrow.

Pablo Piovano FXStreet

The buying pressure around the Sterling is picking up pace today, lifting GBP/USD to fresh 2-month tops in the 1.2880 region.

GBP/USD up on May’s optimistic comments

Cable added to Friday’s gains beyond 1.2800 the figure as investors deemed as positive earlier comments by UK’s PM Theresa May.

In fact, May opened the door to a no-deal scenario or a risk of a no Brexit at all in case the Parliament rejects her deal at tomorrow’s crucial vote. GBP appreciated further after May hinted at the likelihood that MPs could now support her plans.

Despite her optimism, consensus among investors expects the Parliament to reject her plans tomorrow.

GBP/USD levels to consider

As of writing, the pair is up 0.11% at 1.2856 facing the next hurdle at 1.2879 (high Jan.14) seconded by 1.2892 (100-day SMA) and then 1.2927 (high Nov.22). On the other hand, a breach of 1.2773 (55-day SMA) would open the door to 1.2740 (10-day SMA) and finally 1.2706 (low Jan.8).

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.

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.