GBP/USD
Cable extends recovery from Wednesday’s two-month low (1.2675) after bears got trapped under 200DMA (1.2719) and ahead pivotal Fibo support at 1.2690 (38.2% of 1.1409/1.3482 rally).
Fresh advance also points to false break below the base of rising daily cloud (1.2759), with signal to be confirmed on weekly close within the cloud.
Rising momentum, reversal of daily stochastic from oversold zone and formation of 100/200DMA’s golden cross, support the action.
Recovery cracked initial barrier at 1.2801 (Fibo 38.2% of 1.3007/1.2675), ahead of sideways-moving 10DMA (1.2839) violation of which would open way for stronger correction.
Res: 1.2839; 1.2880; 1.2928; 1.2966
Sup: 1.2731; 1.2717; 1.2690; 1.2675
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 holds recovery below 1.0500 after German IFO
EUR/USD clings to recovery gains below 1.0500 in the European session on Monday. The US Dollar upswing fizzles out despite broad risk aversion, aiding the pair's renewed upside. The pair also cheers upbeat German IFO survey but ECB rate cut expectations seem to limit its rebound.
GBP/USD recovers losses above 1.2450 as US Dollar loses ground
GBP/USD trims losses to regain 1.2450 in the European session on Monday. The pair fnds fresh demand amid fading US Dollar recovery even as global stocks sell-off extends and investors remain wary of US President Trump's tariff plans.
Gold price recovers a part of intraday losses, down a little around $2,760 area
Gold price recovers a major part of its intraday losses and trades with a mild negative bias, around the $2,760 area during the first half of the European session on Monday. US President Donald Trump's decision to impose tariffs on all imports from Colombia revives trade war fears and triggers a fresh wave of the global risk-aversion trade.
Bitcoin dips below $99K, wiping nearly $860 million from market
Bitcoin edges below $100,000 support and falls nearly 4% at the time of writing on Monday after hitting a new all-time high of $109,588 the previous week. The recent price decline has triggered a wave of liquidations across the crypto market, resulting in $860.55 million in total liquidations in the last 24 hours.
ECB and US Fed not yet at finish line
Capital market participants are expecting a series of interest rate cuts this year in both the Eurozone and the US, with two interest rate cuts of 25 basis points each by the US Federal Reserve and four by the European Central Bank (ECB).
Trusted Broker Reviews for Smarter Trading
VERIFIED Discover in-depth reviews of reliable brokers. Compare features like spreads, leverage, and platforms. Find the perfect fit for your trading style, from CFDs to Forex pairs like EUR/USD and Gold.