EUR/USD 1.14435
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-0.251%
GBP/JPY 218.177
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On July 30th, Eckhard Schulte, Chairman of the Board of MainSky Asset Management, stated in a report that Federal Reserve Chairman Warshs avoidance of providing any form of forward guidance makes it extremely difficult for the market to form a coherent analysis of Fed policy. The market will have to adapt to this communication style; the resulting high level of uncertainty will drag down stocks, long-term bonds, and the dollar. Warsh clearly stated that the Fed is serious about its 2% inflation target and intends to achieve it. However, he did not provide a coherent explanation for why the Fed did not heed the opinions of three dissenting members who advocated for interest rate hikes.According to monitoring of 500 county-level markets and collection points nationwide, in the fourth week of July (collection date July 23), prices of piglets, pork, eggs, chicken, commercial broiler chicks, mutton sheep, raw milk, and soybean meal increased week-on-week. Prices of live pigs, commercial layer chicks, live cattle, and broiler feed decreased week-on-week. Prices of beef, corn, fattening pig feed, and layer hen feed remained unchanged week-on-week. The national average price of piglets was 23.20 yuan/kg, up 1.3% from the previous week and down 34.9% year-on-year. The national average price of live pigs was 11.45 yuan/kg, down 0.4% from the previous week and down 22.9% year-on-year. The national average price of pork was 20.96 yuan/kg, up 0.1% from the previous week and down 17.4% year-on-year. The national average price of eggs was 10.96 yuan/kg, up 1.3% from the previous week and up 27.0% year-on-year. The national average price of corn was 2.48 yuan/kg, unchanged from the previous week and down 0.8% year-on-year.Saudi Arabias GDP fell 4.8% year-on-year in the second quarter of 2026. Non-oil activity fell 24.7% year-on-year in the second quarter.Shell (SHEL.N): It expects its combined natural gas production in the third quarter to be approximately 570,000 to 630,000 barrels of oil equivalent per day.The World Gold Council reported that Indian gold demand fell 6% year-on-year in the June quarter, primarily due to weak jewelry purchases. Indian gold demand is expected to recover in the second half of 2026, provided prices remain stable. Indias increased tariffs on gold imports have fueled smuggling and squeezed legitimate market participants.

GBP/USD Price research indicates a probable fall to 1.2100

Alina Haynes

Aug 03, 2022 14:56

 截屏2022-08-03 上午9.47.53.png

 

The GBP/USD pair has retraced close to 1.2140 after giving up the critical support level of 1.2180 on Tuesday. After failing to recapture monthly highs above 1.2293 on Tuesday, the cable saw a strong sell-off. Given that investors have backed the risk-aversion impulse as a result of escalating US-China tensions over Taiwan, it is anticipated that a corrective movement would increase.

 

On a four-hour time frame, the cable is bidding in a Rising Channel configuration that favors the north side overall but undergoes many nice corrections along the way up. The upper portion of the previously described chart pattern is derived from the July 13 high of 1.1968, while the lower portion is drawn from the July 14 low of 1.1760.

 

The asset has abandoned the 20-period Exponential Moving Average (EMA) at 1.2190, while the 50-period EMA at 1.2129 remains intact but is likely to be challenged sooner.

 

The Relative Strength Index (RSI) (14) has dropped into the 40.00–60.00 range, indicating that gold prices' bullish momentum has paused.

 

If there is a modest decrease toward 1.2150, market participants will be able to sell at a discount. The wire will be tugged in this direction, nearing the round-number support level at 1.2100. By breaking clearly below 1.2100, the dollar bulls will be extinguished, and the cable will continue to fall until it reaches a low of 1.2063 on July 29.

 

If the asset crosses over the 20-EMA at 1.2190, though, the cable may initiate a fresh bullish impulsive wave. If this occurs, the asset will increase to its high from July 29, which was 1.2246, before reaching its monthly high of 1.2294.


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