GBP/USD remains depressed near 1.2100 ahead of Carney

Pablo Piovano FXStreet

The Sterling keeps the bearish fashion intact on Wednesday, sending GBP/USD to the area of daily lows near 1.2100 the figure.

GBP/USD now looks to the BoE

Spot has slipped back to the area of 3-month lows in sub-1.2100 levels earlier today following mixed results from the UK docket, where Industrial and Manufacturing Production have both beaten consensus in the month of November, although the trade deficit and Construction Output have come in on the soft side.

The current weakness around the pair has been also intensified following a pick up in the demand for the greenback ahead of the press conference by US president-elect Donald Trump, due later in the European evening.

In addition, GBP will remain in centre stage as BoE’s M.Carney will speak before the Treasury Select Committee Hearings ahead of the NIESR GDP Estimate for the fourth quarter.

GBP/USD levels to consider

As of writing the pair is retreating 0.48% at 1.2117 and a break below 1.2098 (low Jan.10) would open the door to 1.2081 (low Oct.28) and then 1.1450 (GBP ‘flash crash’ Oct.7). On the upside, the initial hurdle lines up at 1.2302 (20-day sma) followed by 1.2414 (55-day sma) and finally 1.2431 (high Jan.6).

Sell 67%

Buy 33%

Avg Sell Price 1.2328

Avg Buy Price 1.2100

Liquidity Distribution

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.