FXTM information and reviews
IronFX information and reviews
Libertex information and reviews
FXCC information and reviews
Markets.com information and reviews
FxPro information and reviews
42 567.79

GBPUSD eyes 1.2650 resistance level

4 June 2020

The British Pound wasted no time in exploiting a weaker Dollar on Wednesday, as prices jumped towards the 1.2600 level. Expect the GBPUSD to push higher in the short term if the Dollar continues to weaken amid the positive market mood and economic recovery hopes.

Looking at the charts, the GBPUSD is trending higher on the hourly, four hourly and daily timeframes.

There have been consistently higher highs and higher lows on the hourly chart. An intraday breakout above the 1.2600 level may signal a move higher towards 1.2650 which is 50 pips away.

A similar theme can be identified on the H4 chart with the path of least resistance pointing north. Bulls remain on control as long as prices can remain above the 1.2550 higher low.

Should the 1.2650 resistance give way, this could open the doors towards 1.2800. Alternatively, sustained weakness under the stubborn 1.2650 level may result in a decline back towards 1.2500.

Commodity spotlight – Gold

Gold collapsed like a house of cards on Wednesday, shedding 2% as investors overlooked civil unrest in the United States and heavily focused on hopes around central bank intervention and economic recovery.

The precious metal is positioned to weaken further in the near term thanks to the improving market mood with $1680 acting as the first level of interest. A breakdown below this point may carve a path back towards levels not seen since mid- April around $1665. For bulls to snatch back control, Gold needs to break back above $1710.



Stocks bounce back after Evergrande panic
Stocks bounce back after Evergrande panic

As investors increasingly liken the Evergrande crisis with the collapse of the Lehman Brothers in 2008, they remain in the dark about the Chinese government's intentions...

21 Sep 2021

Oil Was Put on Hold
Oil Was Put on Hold

The oil price is falling after rallying before. Early in another September week, Brent is trading at $74.50 and has a lot of room to correct. The strong greenback...

20 Sep 2021

Dollar starts Fed week on front foot, stocks hit by Evergrande fallout
Dollar starts Fed week on front foot, stocks hit by Evergrande fallout

Fears of global contagion from the worsening crisis in China's property sector continued to weigh heavily on sentiment at the start of trading on Monday as markets...

20 Sep 2021

Dollar jumps, gold slumps, stocks nervous
Dollar jumps, gold slumps, stocks nervous

Worries that the US consumer is rolling over were dealt a major blow yesterday after the nation’s retail sales for August overpowered some gloomy forecasts. The retail sales...

17 Sep 2021

Energy is the play: how we get to $100 crude
Energy is the play: how we get to $100 crude

Natural gas futures in Europe and the UK are flying, while our natural gas (NG) CFD (the underlying is traded on the NYMEX) pushed over $5.60 and into 7-year highs...

16 Sep 2021

Are investors sleeping on systematic risk in China?
Are investors sleeping on systematic risk in China?

It’s time to talk about China. The situation is getting dicier as the nation’s second-largest property developer - Evergrande - is on the verge of default. Trading in the company...

16 Sep 2021

Forex Forecasts

OctaFX information and reviews
HotForex information and reviews
XM information and reviews
FXCM information and reviews
Vantage FX information and reviews
Vantage FX
Moneta Markets information and reviews
Moneta Markets

© 2006-2021 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.