GBP/USD set to suffer an eventual fall to 1.1500/1.1409 – Credit Suisse

FXStreet Insights Team FXStreet

GBP/USD has been unable to sustain its break below the 78.6% retracement of the entire 2020/2021 uptrend at 1.2017. However, strength stays seen as corrective ahead of an eventual fall to 1.1500/1.1409, in the view of analysts at Credit Suisse.

Initial resistance stays seen at 1.2431

“GBP/USD has been unable to sustain its break below the 78.6% retracement of the entire 2020/2021 uptrend at 1.2017 but with GBP holding a top in Trade Weighted Terms and with the USD also expected to stay strong strength stays seen as corrective and temporary.”

“We continue to look for a sustained break below 1.2017/00 in due course to clear the way for further weakness to 1.1500/1.1470, potentially the 1.1409 low of 2020.”

“Resistance stays seen at 1.2431 initially, with 1.2668 ideally continuing to cap.”

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.

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.