Recent gains have placed the British Pound on the aggressive against the US Dollar and Euro, but it has much work to do to instate a broad bullish bias for the exchange rates.
We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.2023-10-09 19:36:14Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: 0.17% Silver...and Euro. With regards to GBP/USD, the past 3 trading sessions have produced a gain of about 0.9%. This is marking the best 3-day performance since the middle of July.
This also followed positive RSI divergence, showing that downside momentum was fading. The moving average may hold, reinstating the broader downside focus. If not, the 50-day could be tested thereafter. As such, while GBP/USD has been pushing higher recently, further progress is needed to offer a bullish technical bias. Clearing under support exposes the March low of 1.1804.rejected the 0.8658 – 0.8701 resistance zone, as well as the falling range of resistance from February.
Immediate support is a combination of the 50-day moving average and the 0.861 inflection point. Breaking lower places the focus on the minor 14.6% Fibonacci retracement at 0.8564. Breaking under this exposes the zone of support. Otherwise, a bullish technical bias entails clearing the range of resistance, exposing the 61.8% Fibonacci retracement level.Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors.
We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.a registered Introducing Broker with the Commodity Futures Trading Commission and is no longer a Member of the National Futures Association in the U.S. Any and all information provided by FXP is not intended for use by U.S. residents or individuals domiciled in the U.S.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US Equities Technical Outlook: Range-Bound with Downside PotentialThe equity selloff the end of Q3 places the major US indices at a crucial level of support. Failure of support with sustained momentum leaves stocks open to further downside
Read more »
Pound Sterling Price News and Forecast: GBP/USD sticks to the range bound themeGBP/USD closed the previous week virtually unchanged following a steady rebound in the second half of the week. The intense flight to safety at the be
Read more »
Nasdaq, S&P 500 Hold Onto Weekly Support; Russell 2000 in Trouble: Technical ViewStocks Analysis by Declan Fallon covering: S&P 500, US Small Cap 2000, iShares Core S&P 500 ETF, SPDR® S&P 500. Read Declan Fallon's latest article on Investing.com
Read more »
Minnesota man breaks record with 2,749-pound gourd, wins 3rd Half Moon Bay pumpkin weigh-offTravis Gienger squashed the competition at the 50th annual Safeway World Championship Pumpkin Weigh-off with his gourd weighing-in at 2,749 pounds, breaking a world record. Congratulations!
Read more »
Market Q4 Outlook: Gold, Oil, Stocks, US Dollar, Euro, Pound, Yen, BTC at Tipping PointDifferent market dynamics are poised to unfold in the near term, potentially paving the way for increased volatility and attractive trading setups in major assets. This article presents a comprehensive collection of Q4 forecasts.
Read more »