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On May 25, a U.S. official told CNN that sanctions against Iran cannot be eased until the country curbs its nuclear program. The official stated that the U.S. has not yet negotiated the release of Iranian funds as part of the agreement. Furthermore, the removal of Irans nuclear stockpile is under discussion.On May 25th, the European Central Bank (ECB) will convene a meeting of banks on Tuesday to discuss cybersecurity risks revealed by the latest AI models, such as the Claude Mythos Preview developed by Anthropic, and urge banks to accelerate efforts to protect their IT systems. ECB Supervisory Board Vice-Chairman Frank Elderson stated that it was "unfortunate" that European banks lacked access to the Mythos model, but he hoped that US banks attending Tuesdays meeting would share lessons learned from testing the model with their European counterparts. "The inability to use the model is not an excuse for inaction; malicious actors may soon gain access to this technology." According to Anthropic, the Mythos model has already identified thousands of high-severity vulnerabilities in all major operating systems and web browsers.The European Central Bank will urge banks to accelerate efforts to protect their information technology systems at its meeting on Tuesday, discussing the cybersecurity risks exposed by the latest artificial intelligence models.According to the Financial Times, the European Central Bank has convened a meeting with banks, demanding that they fix the flaws exposed by the latest artificial intelligence model.On May 25, Al Jazeera, citing an Iranian source, reported that the United States is showing signs of backing down on two key issues: the mechanism for unfreezing Iranian assets and the scope of the ceasefire in Lebanon. The source stated, "A negative atmosphere has begun to emerge."

GBP/USD Price Analysis: Targets a Breakout above 1.2100 from the Descending Triangle

Daniel Rogers

Dec 30, 2022 12:01

 GBP:USD.png

 

In the Asian session, the GBP/USD pair is doing poorly due to investors' reluctance to acquire substantial positions due to the holiday market sentiment. The Cable is fluctuating within a 10-pip band below 1.2060 and will likely continue to do so in the foreseeable future.

 

Following a decline to approximately 103.50, the US Dollar Index (DXY) has attempted a recovery. As risk appetite improved on Thursday, the USD Index witnessed a big fall. The yield on 10-year US Treasury bonds slipped below 3.83 percent during early trading.

 

The Cable is building speed in anticipation of an hourly breakout from the chart pattern of a Descending Triangle. The major currency is hovering near the downward-sloping trendline drawn from the high of December 19 at 1.2242, while the horizontal support of the previously described chart pattern is placed at the low of December 22 at 1.1992.

 

The pair is trading above the 20-period Exponential Moving Average (EMA) above 1.2050, indicating a strong near-term rise.

 

A consolidation is coming as the Relative Strength Index (RSI) (14) oscillates between 40.00 and 60.00. A breakout of the bullish zone between 60.00 and 80.00 will trigger bullish momentum.

 

Should the Cable firmly surpass the high of 1.2112 on December 27, Pound Sterling bulls would drive the asset to the high of 1.2189 on December 21, followed by the high of 1.2242 on December 19.

 

In contrast, a significant slide below the low of December 22 at 1.1992 will cause the Descending Triangle to collapse and drag the Cable to the low of November 29 at 1.1940. A breach below this level would expose the pound to more weakness near the low reached on November 30 around 1.1900.

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