GBP/USD: Cable is running on pure newsflow [Video]

Richard Perry Independent Analyst

GBP/USD

It has been extremely difficult to consider a technical outlook for a market that is running on pure newsflow in recent days. Cable has been choppy, but intraday weakness has repeatedly been bought into as progress has been made this week. However, with a deal now achieved on an EU level, there may be little good news to prevent Cable slipping back today (the UK Parliament arithmetic does not look great for passing a deal on Saturday). For now the technicals (for what they are worth) remain positive. The hourly chart is intriguing too, with the market repeatedly supported by both a rising 55 hour moving average and a five day uptrend. The support of a higher low at $1.2750 will give an indication of where the market is at. Failure of this low would suggest the market is losing hope of securing a deal. The high of $1.2988 is resistance now, with a mini lower high at $1.2890. The volatile ride is not over yet and the biggest move (highly likely to be a significant gap) will be on Monday morning (Sunday night depending on where traders reside).

Author

Richard Perry

Independent Analyst

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.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

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.