Slobodan Drvenica
Windsor Brokers
GBP/USD
Cable eases from new highest levels since March 2022 on Monday, suggesting that bulls may take breather after 3.6% advance in past two weeks and strong bullish acceleration last Friday (almost 1% daily gain).
Strongly overbought daily studies prompt traders to collect profit, though correction is likely to be limited as the uptrend is strong.
Higher base at 1.3080 marks initial support, while extended dips should be contained by solid supports at 1.3000 zone (38.2% of 1.2664/1.3229 / 10DMA / psychological) and mark a healthy correction, before fresh push higher and potential attack at 1.3328 (Fibo 76.4% of 1.4249/1.0348).
Res: 1.3229; 1.3279; 1.3300; 1.3328.
Sup: 1.3129; 1.3044; 1.3000; 1.2947.
-638602642369950444.png)
Interested in GBP/USD technicals? Check out the key levels
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
Recommended Content
Editors’ Picks
EUR/USD stays below 1.1200 after upbeat US data
EUR/USD struggles to gain traction and retreats toward 1.1150 in the second half of the day on Monday. The data from the US showed that Durable Goods orders rose at a much stronger pace than expected in July, supporting the USD and not allowing the pair to gain traction.
GBP/USD struggles to hold above 1.3200 as USD finds its feet
GBP/USD is off multi-month highs, consolidating gains below 1.3200 on Monday. The US Dollar attempts a minor recovery on better-than-forecast Durable Goods Orders data for July, making it difficult for the pair to build on the previous week's rally.
Gold extends rally beyond $2,520 as geopolitical risks boost haven demand
Gold trades up into the $2,520s on Monday, as a combination of safe-haven demand sparked by rising geopolitical tensions in the Middle East, and increased confidence US interest rates will track lower in the medium-to-long term, make the non-interest paying asset more attractive to investors.
Toncoin price crashes double-digits as Telegram CEO Pavel Durov Arrested
Toncoin (TON) plunged 14% in two days, reaching a low of $5.23 on Sunday. As of Monday, it trades at around $5.73. This bearish sentiment was initiated by the arrest of Pavel Durov, CEO of Telegram, by the Fench authorities on Saturday.
Three fundamentals for the week: Focus on the fragility of the US economy Premium
US Consumer confidence data will provide a gauge of how consumers are feeling. Jobless claims are in focus after Fed Chair Powell's dovish speech. Investors will look to the core PCE index to confirm that inflation is falling.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.