GBP/USD targets February 2016 low at 1.3836 – Commerzbank

FXStreet Team FXStreet

GBP/USD begins the new year on a positive note and nearing 1.37 – extending its gains after the UK is fully out of the EU, Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, reports.

Key quotes

“GBP/USD continues to rise after Brexit and should shortly encounter the 1.3712 February 2018 low and 1.3836, the February 2016 low.” “Longer-term, the 2018 peak at 1.4377 is being targeted.”

“Minor support below the 1.3625/20 December 17 and 24 highs can be spotted at the 1.3540 early December high.”

“Overall upside pressure should be maintained while the cross remains above its December low at 1.3135.”

Author

FXStreet Team

FXStreet

EUR/USD regains balance, targets 1.1800

EUR/USD has lost a bit of momentum after its earlier push higher and is now attempting to reclaim the key 1.1800 barrier on Monday. In the meantime, investors remain focused on the evolving US–EU trade relationship after President Trump’s announcement of sweeping global tariff hikes.

GBP/USD recedes from tops, back to 1.3500

GBP/USD is extending its move higher on Monday, meeting some resistance around 1.3530 on the back of the widespread bearish tone in the US Dollar amid ongoing uncertainty around tariffs. For now, traders are watching overall risk sentiment and central bank rhetoric for the next directional cue.

Gold advances to four-week highs, focus is on $5,200

Gold is holding onto its bullish tone on Monday, hovering near monthly highs well above the $5,100 mark per troy ounce. Fresh trade-war concerns, coupled with rising geopolitical tensions in the Middle East, are keeping demand for the yellow metal well on the rise.

Crypto Today: Bitcoin, Ethereum, XRP intensify sell-off as tariff uncertainty weighs

Bitcoin, Ethereum and Ripple are trading amid increasing selling pressure at the time of writing on Monday, as investors react to fresh trade uncertainty over US President Donald Trump’s push for more tariffs.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

Top Crypto Losers: Zcash, Pump.fun, and LayerZero extended losses as Bitcoin loses $65,000

The cryptocurrency market starts the week in panic mode, with altcoins Zcash, Pump.fun, and LayerZero. Bitcoin falls below $65,000 as the US President Donald Trump regroups amid renewed trade policy risks.