• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
July 19th - A study released on the 18th by the Italian Confederation of Business, Tourism and Services Businesses indicates that with increasingly frequent extreme weather events, prolonged heatwaves could cause Italy economic losses of €6 billion to €12 billion (approximately RMB 46.5 billion to 93 billion) annually. The report points out that if Italy experiences 30 to 60 days of extreme heat each year, businesses will face multiple pressures, including rising energy costs, decreased labor productivity, forced increases in adaptive investments, and reduced turnover. High temperatures will also alter consumer and tourism habits, further impacting the commerce and tourism sectors.On July 19th, local time, on the evening of July 18th, Iranian Supreme Leader Mojtaba Khamenei stated that the United States repeated violations of the Islamabad Memorandum of Understanding (Iran-US Memorandum of Understanding) once again proved that the signature of the US president was "worthless and invalid." In a statement, Khamenei emphasized that the US actions exposed "bullying, power politics, and barbarity" as integral parts of American behavior and style. He stated that the US "has once again revealed its true and undisguised face. This dark experience filled with evil and treachery has once again become irrefutable evidence of the USs hypocrisy, unreasonableness, breach of trust, and despicable nature. Iran and the resistance have left the US with unforgettable lessons."The UK Maritime Trade Operations Office has received a report of an incident involving a merchant vessel and military forces approximately 100 nautical miles east of Duqm, Oman. The report indicates that the tanker was affected by ongoing military activity in the area.July 19 - The Kuwaiti Fire Department reported that several Kuwaiti firefighters were injured in multiple fires sparked by Iranian attacks. Firefighters brought under control of two fires that broke out this afternoon local time, triggered by the Iranian attacks. In one of the affected areas, several firefighters and an oil industry worker were injured. The area was attacked again during the firefighting operation. Firefighters also extinguished three other fires caused by shrapnel falling into residential areas; these fires did not result in any injuries.Advisor to the Ukrainian Interior Minister: The attacks in Ukraine have reduced Russias oil refining capacity.

GBP/USD Price Analysis: Bearish Dollar Pressure Exposes a Drop to Near 1.2500

Daniel Rogers

Apr 27, 2022 09:51

The GBP/USD pair has been collapsing like a house of cards since Friday, when it fell below the two-week-old resistance level of 1.2973. The asset has declined by around 3.70 percent during the last four trading sessions and shows no signs of reversal at the moment.

 

On a daily basis, the negative break of the Falling Channel has bolstered the greenback bulls. The chart pattern's top boundary is drawn from the June 2021 highs of 1.4249, while the lower boundary is drawn from the April 2021 low of 1.3669. When the Falling Channel is broken, volume expands and ticks get wider.

 

The 10- and 20-period Exponential Moving Averages (EMAs) are going down at 1.2838 and 1.2945, respectively, adding to the downside filters.

 

Additionally, the Relative Strength Index (RSI) (14) has moved into the negative zone of 20.00-40.00, indicating the possibility of a new downward impulsive wave.

 

Following a colossal decline, a pullback appears imminent. As a result, investors should wait for a fall to reach the 1.2800 round level roadblock before initiating new short positions. Responsive selling at 1.2800 will pull the asset towards the 1.2600 and 1.2500 round level supports, respectively.

 

On the other hand, if the asset surpasses the psychological resistance level of 1.3000, the cable may perform nicely. This will push the pair closer to Thursday's high of 1.3090, and then to a three-week high of 1.3147.

Daily GBP/USD Chart

image.png