EUR/GBP Technical Analysis: Sterling bulls drive EUR/GBP near 0.8720 post-BoE

Sterling gained about 60 pips against Euro on the back of hawkish comments from the Bank of England.
EUR/GBP is now sitting near the 0.8720 support, June low, and in consolidating the losses made earlier.
The trading range price action stays intact on the EUR/GBP currency cross as bulls are potentially eyeing 0.8760, the daily 50-period simple moving average. However, a strong bear breakout below the 0.8720 support can lead EUR/GBP towards the 0.8620 April 17 swing low.

Flavio Tosti Independent Analyst

EUR/GBP 15-minute chart

Spot rate: 0.8749

Relative change: -0.39%
High: 0.8801
Low: 0.8725

Trend: Neutral

Resistance 1 0.8760 daily 50-period SMA
Resistance 2: 0.8800 figure
Resistance 3: 0.8826-0.8840 area, 200-day SMA and last week’s high
Resistance 4: 0.8861 weekly 50-period SMA

Support 1: 0.8720, June low
Support 2: 0.8700 figure
Support 3: 0.8620 April 17 swing low

Author

Flavio Tosti

Independent Analyst

EUR/USD eyes nine-day EMA barrier after rebounding from 1.1600

EUR/USD gains ground after registering modest losses in the previous session, trading around 1.1620 during the Asian hours on Friday. The technical analysis of the daily chart suggests an ongoing bearish bias as the pair remains within the descending channel pattern.

GBP/USD drifts lower heading into NFP range

GBP/USD edged lower by 0.2% on Thursday, settling close to 1.3350 in a strained trading session that kept the pair pinned near three-month lows. Price briefly recovered earlier in the day on reports that Iran had indirectly signaled openness to talks with the CIA, but the bounce faded as Israeli officials reportedly advised Washington to disregard the overture.

Gold awaits US Nonfarm Payrolls for a clear directional impetus

Gold rebounds above $5,100 early Friday after testing the $5,050 level amid global sell-off. The US Dollar pulls back as profit-taking creeps in ahead of US labor data. For February. 21-day SMA holds amid bullish RSI; a daily closing above 61.8% Fibo is critical for Gold buyers.

Ethereum pull in $169M as validators pile in to stake ETH

US spot Ethereum exchange-traded funds recorded $169 million in net inflows on Wednesday, marking the largest daily intake in two months, according to SoSoValue data. The rise in inflows signals renewed institutional interest in Ethereum amid broader market volatility.

The market compass is pointing at a barrel of Oil

The Asian open is arriving with equities leaning the wrong way, and the reason is not complicated. The market’s compass needle has snapped firmly toward crude. In this tape, oil is not just another input price; it is the gravitational center around which every asset class is orbiting.

Ripple tests recovery strength amid steady ETF inflows, growing retail interest

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.