GBP/USD bears regain control

GBP/USD returns to bearish territory after rejection from 1.2500. A move below 1.2350 could renew downside pressures.
XM Group | 486 dni temu

 

GBP/USD has taken a negative turn again after its strong bullish start to the month failed to break above the 1.2500 resistance and the 50-day simple moving average (SMA). The pair couldn't sustain levels above its 20-day SMA on Monday and is currently seeking support from a short-term trendline at 1.2350. With technical signals leaning to the bearish side, a continuation lower seems more likely as the Fed chief is heading to Capitol Hill for a two-day testimony.

Additional losses could initially pause within the 1.2235-1.2270 constraining zone. If selling interest persists, the price could challenge the bottom of its September-December downtrend at 1.2100-1.2160. Failure to pivot there could spark a decline towards the 1.2000 psychological level, with the 1.1935 territory, last seen in February-March 2023, also coming into sight.

Conversely, if the pair establishes a strong foothold near 1.2350 and climbs back above its 20-day SMA, it may stage another battle between its 50-day SMA and the 1.2500 barrier. A victory there could clear the way towards the 38.2% Fibonacci retracement of the September-December downtrend of 1.2600. A steeper rally could target the 50% Fibonacci level and the 200-day SMA within the 1.2765-1.2800 area.

In summary, GBP/USD is facing a bearish short-term outlook, with sellers waiting for a close below 1.2350 to target lower levels.

XM Group
Wprowadzić: Market Maker
Regulacja: CySEC (Cyprus), FSC (Belize), DFSA (UAE), FSCA (South Africa), ESCA (UAE)
read more
US-Iran Tensions Escalate Anew; Focus Shifts to ECB Rate Hike

US-Iran Tensions Escalate Anew; Focus Shifts to ECB Rate Hike

On Wednesday, US stock indices dropped by over 1%, with the Dow down 1.87%, the S&P 500 down 1.62%, and the Nasdaq losing 1.98%. Concerns over US-Iran tensions unsettled investors, even as CPI met expectations. US Treasury yields rose slightly, the dollar slipped 0.1%, and spot gold fell over 4% to $4,073.46, the lowest since March 23. Crude prices rose above $90 per barrel amid renewed friction.
ATFX | 1 dni temu
Middle East tensions spark market sell-off; all eyes on U.S. CPI tonight.

Middle East tensions spark market sell-off; all eyes on U.S. CPI tonight.

U.S. strikes on Iran have heightened tensions in the Middle East and increased risk aversion, contributing to market weakness ahead of the U.S. CPI data. Tonight’s CPI release could hit 4.2%, the highest since September 2022, which could affect Fed policy expectations and increase volatility. The Bank of Canada is expected to hold rates steady, but its statement may impact the CAD amid ongoing
ATFX | 2 dni temu
GBP/USD Remains Under Pressure Despite Attempts to Recover

GBP/USD Remains Under Pressure Despite Attempts to Recover

GBP/USD attempted to move closer to 1.3350 on Tuesday but remained under pressure. The US dollar continues to benefit from strong US labour market data, which reinforced expectations that the Federal Reserve will maintain a restrictive monetary policy stance and could even consider further interest rate increases before the end of the year.
RoboForex | 3 dni temu
US Jobs: Resilience or Slowdown?

US Jobs: Resilience or Slowdown?

Focus of the Day: The US will release its May non-farm payrolls (NFP) report tonight, with expectations of 85,000 new jobs, a drop from April’s 115,000. The unemployment rate is projected to stay at 4.3%, and average hourly earnings are expected to rise by 0.3%. This NFP release may influence market direction amid a challenging economic backdrop.
ATFX | 7 dni temu
Tensions Flare Anew in the Middle East; Risk Appetite Dampened as U.S. Stocks Halt Winning Streak

Tensions Flare Anew in the Middle East; Risk Appetite Dampened as U.S. Stocks Halt Winning Streak

U.S. equities fell from record highs on Wednesday as rising oil prices and escalating tensions in the Middle East fueled inflation fears, prompting investors to take profits. The S&P 500 dropped 0.7%, the Nasdaq Composite slid 0.9%, and the Dow Jones fell 1.2%. Strong employment data increased rate-hike expectations, boosting the U.S. Dollar Index to its highest level since April 7.
ATFX | 8 dni temu