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On June 14, it was reported that on June 13, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, held talks with Mongolian Foreign Minister Battsetseg in Ulaanbaatar. Wang Yi emphasized that China is willing to work with Mongolia, under the strategic guidance of the two heads of state, to continue efforts towards building a community with a shared future of peaceful coexistence, mutual assistance, and win-win cooperation. Chinas foreign policy has always maintained continuity and stability, and China is willing to continue to be a trustworthy and reliable partner for Mongolia, providing sustainable support for Mongolias development and revitalization. Chinas 15th Five-Year Plan provides a comprehensive plan for high-quality development over the next five years and also offers the world a list of opportunities. The Chinese and Mongolian economies are highly complementary, and strengthening the alignment of development strategies is conducive to expanding cooperation areas, tapping cooperation potential, and promoting the economic and social development of both countries. China is willing to work with Mongolia to jointly build the Belt and Road Initiative with high quality, expand economic and trade cooperation, promote the improvement and increase of cooperation in various fields, and achieve more tangible results.June 14th - According to the China State Railway Group, from January to May this year, the national railway system transported a total of 1.67 billion tons of freight, with daily loading volume reaching a record high. Data released by the China State Railway Group shows that in the first five months, the national railway system transported a total of 1.67 billion tons of freight, a year-on-year increase of 1.8%; the average daily loading volume was 186,300 wagons, a year-on-year increase of 2.8%, with 202,400 wagons loaded on May 2nd, setting a new record for daily loading volume.According to Fox News: A senior U.S. government official said he believes an excellent and strong agreement has been reached.The Russian Ministry of Defense stated that air defense forces shot down 185 Ukrainian drones within 12 hours.On June 14, the Prime Minister and Foreign Minister of Qatar received a phone call from the Foreign Minister of Kuwait on June 13, 2026. During the call, they reviewed bilateral cooperation and ways to strengthen ties, and discussed mediation efforts between the United States and the Islamic Republic of Iran. In this context, both sides expressed high satisfaction with the progress made in the negotiations and the announcement by the Pakistani mediators of the final text of the peace agreement, and looked forward to the early signing of the agreement by the US and Iran. Both sides reaffirmed their full support for ongoing efforts to resolve all outstanding issues through dialogue and peaceful means, in order to consolidate regional and international security and stability and enhance the chances of achieving sustainable peace in the region.

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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