EUR/USD 1.18216
0.380%
Gold 4953.26
3.668%
Oil 63.301
0.599%
USD/JPY 157.095
0.042%
GBP/USD 1.36182
0.647%
GBP/JPY 213.938
0.708%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
February 8th - Despite the silver price plunge that has almost wiped out its astonishing gains at the beginning of the year, retail investors still poured nearly $500 million into the silver market over the past week. According to data analysis from Vanda Research, retail investors poured $430 million into the largest silver ETF, SLV, in the six trading days ending Thursday, including over $100 million on January 30th, when silver prices fell 27%, marking the largest single-day drop in history. StoneX analyst Ronna OConnell stated, "People are drawn to the allure of silver." She added that silvers appeal was further amplified by its "massive sell-off," with some investors seeing it as a buying opportunity at lower prices.The European-Mediterranean Seismological Centre reports a 5.9-magnitude earthquake in the Cuba region.February 8th - It is understood that although US President Trump has repeatedly claimed that India has pledged to stop purchasing Russian oil, the joint statement between the US and India regarding the trade framework agreement did not mention this. On February 6th, Trump signed an executive order eliminating the 25% tariff on Indian goods and claimed that India had pledged to stop purchasing Russian oil and instead buy American energy vehicles.Takayuki Kobayashi, Policy Research Council Chairman of the Liberal Democratic Party of Japan: The Liberal Democratic Party will expedite deliberations to achieve a reduction in the consumption tax.According to NHK exit polls, the Liberal Democratic Party is projected to win between 274 and 328 seats out of a total of 465 in the House of Representatives.

GBP/USD Price research indicates a probable fall to 1.2100

Alina Haynes

Aug 03, 2022 14:56

 截屏2022-08-03 上午9.47.53.png

 

The GBP/USD pair has retraced close to 1.2140 after giving up the critical support level of 1.2180 on Tuesday. After failing to recapture monthly highs above 1.2293 on Tuesday, the cable saw a strong sell-off. Given that investors have backed the risk-aversion impulse as a result of escalating US-China tensions over Taiwan, it is anticipated that a corrective movement would increase.

 

On a four-hour time frame, the cable is bidding in a Rising Channel configuration that favors the north side overall but undergoes many nice corrections along the way up. The upper portion of the previously described chart pattern is derived from the July 13 high of 1.1968, while the lower portion is drawn from the July 14 low of 1.1760.

 

The asset has abandoned the 20-period Exponential Moving Average (EMA) at 1.2190, while the 50-period EMA at 1.2129 remains intact but is likely to be challenged sooner.

 

The Relative Strength Index (RSI) (14) has dropped into the 40.00–60.00 range, indicating that gold prices' bullish momentum has paused.

 

If there is a modest decrease toward 1.2150, market participants will be able to sell at a discount. The wire will be tugged in this direction, nearing the round-number support level at 1.2100. By breaking clearly below 1.2100, the dollar bulls will be extinguished, and the cable will continue to fall until it reaches a low of 1.2063 on July 29.

 

If the asset crosses over the 20-EMA at 1.2190, though, the cable may initiate a fresh bullish impulsive wave. If this occurs, the asset will increase to its high from July 29, which was 1.2246, before reaching its monthly high of 1.2294.


Suggestion