EUR/USD 1.02441
-0.534%
Gold 2690.64
0.757%
Oil 75.879
2.936%
USD/JPY 157.812
-0.194%
GBP/USD 1.22083
-0.799%
GBP/JPY 192.662
-0.983%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Market news: Hyundai Motor Company donates $1 million to Trumps inauguration fund.British Chancellor of the Exchequer Reeves: We will take steps to ensure compliance with fiscal rules; we are committed to preparing a budget every year, which will be published in the autumn.According to the news on January 11, in 2024, Shenzhens total electricity consumption will be 121.49 billion kWh, a year-on-year increase of 7.7%. Among them, industrial electricity consumption, service industry electricity consumption, number of residential electricity users and electricity consumption all showed a significant increase. In 2024, Shenzhens secondary industry electricity consumption will be 57.62 billion kWh, a year-on-year increase of 8.8%; among them, industrial electricity consumption will reach 55.2 billion kWh, a year-on-year increase of 8.9%.Russia says it has taken control of the Shevchenko settlement in Ukraines Donetsk region.On January 11, the 2025 Spring Festival travel plan for the Yangtze River Delta Railway was recently released. It is expected that 97 million passengers will be transported during the 40 days of the Spring Festival travel, with an average daily passenger volume of 2.425 million, a year-on-year increase of 5.1%, setting a record high. The Yangtze River Delta Railway Department plans to add 398.5 pairs of passenger trains on the basis of using the peak operation diagram. During the peak period, the maximum number of passenger trains will exceed 1,700 pairs per day to actively respond to the large passenger flow during the Spring Festival travel.

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 


Suggestion