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The Peoples Bank of China announced today that it conducted 402 billion yuan of 7-day reverse repurchase operations, with a bid amount of 402 billion yuan and a winning bid amount of 402 billion yuan. The operation rate was 1.40%, unchanged from the previous rate.Futures Commentary by Everbright Futures: On January 26th, COMEX gold continued its upward trend, slightly retreating at the close to $5004.8 per ounce, a gain of 0.50%. Domestic SHFE gold traded in a high-level range overnight, closing at 1148.14 yuan per gram, a gain of 1.49%. 1. A report from the US Department of Commerce showed that durable goods orders rose 5.3%, compared to a revised 2.1% decline in the previous month. This was the largest increase in six months, driven by orders for commercial aircraft and other capital equipment. On the news front, Polymarket data showed that the market is betting on a 78% probability of a new US government shutdown before the end of January, compared to less than 10% last Friday. 2. Geopolitically, the US Navys USS Abraham Lincoln carrier strike group has arrived in the Middle East and is about to conduct several days of combat readiness exercises. The US militarys deployment around Iran has raised concerns in the market that geopolitical tensions may be rising again. The Federal Reserves interest rate meeting is scheduled for this week, and the probability of a rate cut in January remains low. However, with the market already anticipating this, its impact on gold has actually decreased. Nevertheless, with Trump continuing to stir up trouble in Greenland and the current situation in Iran, geopolitical tensions are escalating rather than decreasing. This erosion of market confidence in the dollar is a strong boost for gold, and its safe-haven appeal is unlikely to diminish in the short term. A bullish bias is expected in the short term, with attention focused on the outcome of the selection process for the next Federal Reserve Chair.January 27th - Latest industry data shows that major UK retailers saw their fastest price increases this month since February 2024, driven by rising prices in food, furniture, health, and beauty products. The British Retail Consortium (BRC) Store Price Index shows that retail prices rose 1.5% year-on-year in January, up from 0.7% in December. Food prices rose 3.9% year-on-year, up from 3.3% in December, marking the largest increase since October last year. "Any claims that inflation has peaked are not supported by these figures," said BRC Chief Executive Dickinson. "Store price inflation surged this month as businesses faced persistently high energy costs and the continued pass-through of National Insurance (NPIC) increases. Meat, fish, and fruit were particularly affected."BHP Billiton has surpassed Commonwealth Bank of Australia to become Australias most valuable stock.Chart: Speculative Sentiment Index on Tuesday, January 27, 2026

GBP/USD Price Analysis: Dollar Bulls Defend the 20-EMA, with 1.3000 in Sight

Drake Hampton

Apr 07, 2022 10:16

  • Failure to break above the 20-EMA will exacerbate the suffering for sterling bulls.

  • The RSI has fallen below 40.00, indicating that there is no hint of divergence and an oversold condition.

  • A location beneath the symmetrical triangle will generate substantial proposals for the cable.

 

After three tumultuous trading days in April, the GBP/USD pair has sensed selling pressure to roughly 1.3167. The pound bulls have been stymied by the 20-period Exponential Moving Average (EMA) around 1.3095.

 

On a four-hour time scale, the cable has settled itself comfortably beneath the symmetrical triangular formation. This will result in significant volume growth for the asset in the future. The chart pattern's top boundary is represented by the March 25 high of 1.3225, while the lower boundary is marked by the March 15 low of 1.3000.

 

 

At 1.3114, the 50-EMA is scaling lower, adding to the downside filters. Additionally, the Relative Strength Index (RSI) (14) has fallen below 40.00, indicating that additional suffering is imminent. The RSI is not indicating divergence or an oversold condition.

 

A break below Tuesday's low of 1.3067 will bolster greenback bulls, and the pair may fall to the March 16 low of 1.3036, followed by psychological support around 1.3000.

 

On the other hand, the asset will march toward Tuesday's high of 1.3167 after breaching the 50-EMA at 1.3114. If the latter is breached, the asset will be pushed towards the round level resistance at 1.3200.

Four-hour chart of the GBP/USD

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