GBP/USD Price Analysis: Bears sit back and await to pounce

GBP/USD bulls are attempting to correct and move out of a bearish channel.
Bears await the bulls with pleasure for a discount.

Ross J Burland FXStreet

GBP/USD is a sinking ship and the bears are eyeing a move back towards all-time lows for the foreseeable future. With that being said, a bullish correction could be in order and the following illustrates the potential for a move back towards higher volumes that line up against a declining trendline resistance prior to the next series move to the downside.

GBP/USD daily chart

The bears have been in control for the first half of the week and have taken the price to the edge of a critical support structure that protects again a fast drop to 1.09 the figure, as illustrated below.:

The price is stalling at 1.1020 support and up against the channel's resistance. The bulls could slide out to the backside of the channel at this juncture which would open the prospect of either a significant bullish correction or some meanwhile price discovery prior to the next meaningful downside continuation.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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.