Tuesday, 02 June 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
GBP/USD technical analysis: Finds some support near 100-hour SMA/ascending trend-line confluence region
Monday, 10 June 2019 15:23 WIB | CURRENCIES |CurrencyGBP/USD

Meanwhile, technical indicators on the 1-hourly chart have been gaining negative momentum and losing traction on the 4-hourly chart.

This coupled with bearish oscillators on the daily chart support prospect for an eventual bearish breakdown on intraday charts.

The mentioned support should now act as a key pivotal point for the pair™s intraday momentum, though traders are likely to wait for today's important UK macro data “ including the monthly GDP growth figures, before placing any aggressive bets.

On the upside, immediate resistance is pegged near the 1.2730 area but the key hurdle remains near the 1.2745-50 region. Only a sustained break through the mentioned barrier might negate the bearish outlook and trigger a near-term short-covering move.

Source : FXstreet

RELATED NEWS
Pound Climbs Above $1.25 to 1-Month High, Brexit Hopes Support...
Tuesday, 2 June 2020 15:17 WIB

Sterling climbed above $1.25 to its highest in a month against the dollar on Tuesday, as signs Britain might be willing to compromise on sticking points in a fresh round of Brexit negotiations with th...

Dollar on Defensive as Markets Pin Hopes on Global Economic Recovery...
Tuesday, 2 June 2020 08:45 WIB

The dollar was on the defensive on Tuesday as investors stuck to hopes of a global economic recovery despite heightened concerns over U.S.-China tensions and mass protests in many U.S. cities over the...

Aussie Dollar Surges As Investors Focus On Recovery From Pandemic...
Monday, 1 June 2020 14:01 WIB

Riskier currencies rose against the dollar on Monday as investors looked to positive signs from China™s post-coronavirus economic recovery and wagered on an easing in Sino-U.S. tensions. The trade-...

Dollar Slips as Investors Focus on Recovery Outlook...
Monday, 1 June 2020 08:47 WIB

The dollar slipped on Monday as investors looked past unrest in the United States to the global economic recovery from the coronavirus and hoped for an easing in Sino-U.S. tensions. The risk-sensitiv...

Euro Tests Highs before Trump's Press Conference on China...
Friday, 29 May 2020 18:30 WIB

The euro extended its gains, testing two-month highs, on Friday as traders waited for U.S. President Donald Trump's response to China's tightening control over Hong Kong, which could worsen tensions b...

LATEST NEWS
Gold Prices See Subdued Rise, Buoyed By Weaker Dollar As Stocks Rally

Gold futures on Tuesday were edging higher on the back of a weaker U.S. dollar, with gains capped by the precious metal by a global rise in assets perceived as risky like stocks. Commodity experts say that the yellow metal has enjoyed haven bids...

WHO Declares Latin America the New COVID Epicenter

Latin America is the new epicenter of the coronavirus pandemic, the World Health Organization declared Monday, as the region's daily death rate now exceeds that in either the United States or Europe. The WHO said Monday there are nearly 938,000...

Oil Futures Rise on Hope of Extension of Global Production Cuts

Crude-oil futures on Tuesday headed higher, at least partly supported by reports that major producers may agree to extend output cuts that terminate at the end of June to further steady oil prices. Reuters has reported that the Organization of the...

POPULAR NEWS
Gold edges lower as investors play down U.S.-China tensions
Monday, 1 June 2020 19:54 WIB

Gold futures traded slightly lower Monday, losing ground as equities drifted into positive territory and investors appeared to play down U.S.-China...

Gold Climbs As U.S. Riots Spark Safe-Haven Rush
Monday, 1 June 2020 16:00 WIB

Gold prices rose on Monday as riots in major U.S. cities rattled investors already reeling from strained China-U.S. relations and boosted demand for...

Gold Rises as U.S. Riots, Hong Kong Rensions Lift Safe-Haven Appeal
Monday, 1 June 2020 09:15 WIB

Gold prices climbed on Monday as reports of riots in the United States rattled investors already reeling from the deepening China-U.S. rift, fanning...

Hong Kong Shares Open With Big Gains
Monday, 1 June 2020 08:58 WIB

Hong Kong stocks rallied at the start of trade Monday after Donald Trump stopped short of imposing sanctions on China over its plans for a security...