GBP/USD Technical Analysis: Cable down en route to 1.3050 level post-FOMC statement

GBP/USD is trading in a bull trend above the 200-period simple moving average on the 4-hour chart following the FOMC statement.
GBP/USD is having a sharp pullback down as the market pierced through the 1.3100 figure. The RSI, MACD and Stochastic indicators are negative suggesting further losses ahead in the coming sessions.
Targets to the downside can be seen near 1.3043 (October 23 high) and 1.3000 figure.

Flavio Tosti Independent Analyst

GBP/USD 4-hour chart

Main trend: Bullish
Short-term: Bearish

Resistance 1: 1.3100 figure
Resistance 2: 1.3150 figure
Resistance 3: 1.3200 figure
Resistance 4: 1.3259 October 12 high

Support 1: 1.3043, October 23 high
Support 2: 1.3000 figure
Support 3: 1.2947 key resistance
Support 4: 1.2921 October 4 low
Support 5: 1.2900 figure
Support 6: 1.2854 October 29

Additional key levels at a glance:

GBP/USD

Overview:
    Last Price: 1.307
    Daily change: -67 pips
    Daily change: -0.510%
    Daily Open: 1.3137
Trends:
    Daily SMA20: 1.2996
    Daily SMA50: 1.3031
    Daily SMA100: 1.3039
    Daily SMA200: 1.3414
Levels:
    Daily High: 1.3176
    Daily Low: 1.3074
    Weekly High: 1.3042
    Weekly Low: 1.2696
    Monthly High: 1.326
    Monthly Low: 1.2696
    Daily Fibonacci 38.2%: 1.3137
    Daily Fibonacci 61.8%: 1.3112
    Daily Pivot Point S1: 1.3082
    Daily Pivot Point S2: 1.3027
    Daily Pivot Point S3: 1.298
    Daily Pivot Point R1: 1.3184
    Daily Pivot Point R2: 1.3231
    Daily Pivot Point R3: 1.3286

Author

Flavio Tosti

Independent Analyst

EUR/USD off highs, back to 1.1850

EUR/USD loses some upside momentum, returning to the 1.1850 region amid humble losses. The pair’s slight decline comes against the backdrop of a marginal advance in the US Dollar as investors continue to assess the latest US CPI readings.

GBP/USD advances to daily tops around 1.3650

GBP/USD now manages to pick up extra pace, clinching daily highs around 1.3650 and leaving behind three consecutive daily pullbacks on Friday. Cable’s improved sentiment comes on the back of the inconclusive price action of the Greenback, while recent hawkish comments from the BoE’s Pill also collaborates with the uptick.

Gold surpasses $5,000/oz, daily highs

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The yellow metal’s upside is also propped up by the lack of clear direction around the US Dollar post-US CPI release.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.