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Hang Seng Index futures closed up 0.71% at 24,829 points in overnight trading, a premium of 148 points.On July 16th, Iranian Parliament Speaker Mohammad Ghalibaf issued a statement on the latest developments regarding the war and the domestic situation on the evening of the 15th local time. Ghalibaf stated that Iran has never welcomed war, but in order to safeguard national security and interests, it must be prepared for battle at all times and must exert every effort. Ghalibaf pointed out that Iran should also utilize diplomatic and negotiating means to achieve and consolidate its national interests. Ghalibaf stated that a memorandum of understanding is only meaningful if all its provisions are valid and being implemented. If Iran cannot benefit from a memorandum of understanding, there is no reason to abide by it. Ghalibaf stated that everyone in Iran has a responsibility to make efforts, according to the Supreme Leaders instructions, for war, diplomacy, or both.July 16 – Three U.S. officials stated that the recent series of U.S. strikes against Iran were aimed at forcing it to open the Strait of Hormuz, and also at targeting Irans military capabilities, which the U.S. hopes to destroy before undertaking more complex operations against Iran. The recent strikes have effectively enhanced Trumps additional military options. The U.S. military stated that its latest airstrikes targeted Iranian air defense systems, coastal radar stations, missile and drone bases, as well as small vessels and other maritime assets. One U.S. official stated that these strikes can be seen as "shaping operations," weakening Irans defense capabilities to allow for more intensive U.S. military operations in the future. "This helps lay the groundwork for necessary follow-up work," the official said.Three U.S. officials said the recent U.S. strikes against Iran are increasing the U.S.s options for further escalation.July 16th - According to CBS, the U.S. Department of Defense recently assessed military action options against Cuba, including a large-scale air assault option carried out by the 101st Airborne Division. Sources familiar with the matter stated that these discussions do not indicate that the Trump administration has decided to take action. Currently, a large portion of U.S. military resources are concentrated in the Middle East, limiting the likelihood of action against Cuba. The U.S. has indicated it still prefers to push for reforms in Cuba through diplomatic and economic pressure. The Pentagon responded that it would not comment on hypothetical military action.

EUR/GBP Price Analysis: Breakout of the Flag Indicates Potential for New Upward Movement

Daniel Rogers

Jan 11, 2023 12:00

EUR:GBP.png 

 

During the Asian session, the EUR/GBP pair is behaving erratically below the crucial barrier of 0.8840. The cross trades aimlessly due to the absence of a potential stimulus. In the meantime, it is predicted that the European Central Bank (ECB) will cease its policy tightening, as Mario Centeno, a member of the ECB's governing council, stated that Eurozone inflation may find stiff opposition in January and February, but will begin to decrease in March.

 

EUR/GBP is forming a Bullish Flag chart pattern on a four-hour time frame, which indicates consolidation followed by a breakout. Participants typically initiate long positions during the consolidation period of a chart pattern, preferring to enter an auction once a bullish bias has been established.

 

Near 0.8820, the 50-period Exponential Moving Average (EMA) has moved sideways, suggesting continued consolidation. While the 200-day exponential moving average (EMA) is still climbing, a bullish long-term trend is indicated.

 

The Relative Strength Index (RSI) (14) fluctuates between 40.00 and 60.00 in the interim. It indicates that a probable conviction move trigger is not present.

 

A breach of the January 6 high at 0.8871 will accelerate the asset towards the round-number barrier at 0.8900, followed by the September 29 high at 0.8979.

 

In comparison, a decline below Monday's low of 0.8769 will lead to the asset's December 21 low of 0.8716. A fall in the latter will cause the asset to reach a low of 0.8691 on December 19.


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