- The FOMC Minutes will be released at 18:00 GMT this Wednesday. No fireworks are expected according to analysts, however, volatility can always be around the corner on such news events.
- GBP/USD is erasing its intraday losses however buyers would need to bring the currency pair above 1.2800 to create any meaningful recovery.
GBP/USD daily chart
GBP/USD has been under strong selling pressure in the last weeks.
GBP/USD is trading below its main simple moving averages suggesting bearish momentum in the near term.
GBP/USD 30-minute chart
GBP/USD is trading below its main SMAs suggesting a bearish bias in the short term. If sellers overcome the 1.2625 support they could continue the downtrend towards 1.2550 and 1.2500 the figure. On the flip side, if the market breaks the 1.2700 figure a move up towards 1.2750 can be on the cards. Further up, resistances are seen at 1.2800 and 1.2875 levels.
Additional key levels
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended content
Editors’ Picks
EUR/USD holds above 1.0700 ahead of key US data
EUR/USD trades in a tight range above 1.0700 in the early European session on Friday. The US Dollar struggles to gather strength ahead of key PCE Price Index data, the Fed's preferred gauge of inflation, and helps the pair hold its ground.
USD/JPY stays above 156.00 after BoJ Governor Ueda's comments
USD/JPY holds above 156.00 after surging above this level with the initial reaction to the Bank of Japan's decision to leave the policy settings unchanged. BoJ Governor said weak Yen was not impacting prices but added that they will watch FX developments closely.
Gold rises above $2,340 as US yields retreat
Gold gained traction and advanced above $2,340 in the European morning on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.7% ahead of key inflation data from the US, helping XAU/USD stretch higher.
Sei Price Prediction: SEI is in the zone of interest after a 10% leap
Sei price has been in recovery mode for almost ten days now, following a fall of almost 65% beginning in mid-March. While the SEI bulls continue to show strength, the uptrend could prove premature as massive bearish sentiment hovers above the altcoin’s price.
US core PCE inflation set to signal firm price pressures as markets delay Federal Reserve rate cut bets
The core PCE Price Index, which excludes volatile food and energy prices, is seen as the more influential measure of inflation in terms of Fed positioning. The index is forecast to rise 0.3% on a monthly basis in March, matching February’s increase.