British Pound Technical Forecast: GBP/USD Breaks Higher, EUR/GBP Stagnates
2021-05-08 21:00:00
Thomas Westwater,
Analyst
British Pound Technical Forecast – Talking Points
GBP/USD Breaks above triangle support putting the currency pair on a bullish footing
EUR/GBP stagnates within rangebound trading but a direction shift may be near
GBP/USD Technical Forecast: Bullish
The British Pound tracked higher against the US Dollar last week, gaining over a full percentage point. GBP/USD broke above its 20- and 50-day Simple Moving Averages recently, along with a breakout above the upper bound of a Symmetrical Triangle pattern formed over the last month of trading. Further upside in the currency pair following the breakout may be the path of least resistance.
US Dollar Price Action Setups: EUR/USD, GBP/USD, USD/CAD
2021-05-07 15:30:00
James Stanley,
Senior Strategist
US Dollar, EUR/USD, GBP/USD, USD/CAD Talking Points:
US Dollar bears remain in-control and this has helped EUR/USD to pop up to a key resistance zone. USD/CAD continues to fall as that USD-weakness is matched up with what’s been a very strong Canadian Dollar.
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It was a big week for the US Dollar. After a strong push by bulls last Friday, the Greenback came into this week with some bullish short-term potential. This follows a month of April that was very bearish in the currency, with sellers driving the same trend that was so prominent in the back nine months of 2020 trade.
US Dollar Rattles at Resistance: EUR/USD, USD/CAD, USD/JPY
2021-05-05 17:00:00
James Stanley,
Senior Strategist
US Dollar, EUR/USD, USD/CAD, USD/JPY Talking Points:
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The US Dollar is continuing to hold at the same resistance that was in play yesterday, with the recent build of a bullish trendline, highlighting how this resistance has been carrying a diminishing marginal impact. That’s allowed for the build of an ascending triangle formation which will often be approached with the aim of bullish breakouts.
At this point, the big question is whether USD bulls might get the ammunition to elicit a topside breakout, and it looked like that might be lining up yesterday when current Treasury Secretary and former FOMC Chair, Janet Yellen, opined about the possible need to hike rates in order to avoid the economy from overheating. Well, one look at markets like Lumber or Corn or Copper, or Dogecoin, and that overheating concern becomes quite obvious. But, so far the Fed
Bitcoin (BTC/USD) Support Bounce, Ethereum (ETH/USD) Tests Resistance
2021-04-26 13:30:00
James Stanley,
Senior Strategist
Bitcoin, Ethereum Talking Points:
Both Bitcoin and Ethereum have started to bounce, with the run in Ethereum appearing a bit more bullish as of now.
Bitcoin found support around the 50% marker of the recent major move.
Ethereum is re-testing a big area of resistance around the 2500 psychological level.
The analysis contained in article relies on price action and chart formations. To learn more about price action or chart patterns, check out our DailyFX Education section.
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Crypto markets have started to bounce after a continued pullback through last week’s trade. In Bitcoin, prices set a fresh monthly low before buyers showed up last night. The turn took place just a bit above a 50% level from the Jan 22 – April 14 major move, plotted around $46,847. Also notice where the RSI indicator on the Daily chart nearly touched oversold terri
Ethereum (ETH/USD) Fresh Highs; BTC/USD, Dogecoin Back Down
2021-04-22 17:00:00
James Stanley,
Senior Strategist
Ethereum (ETH/USD), Bitcoin (BTC/USD), Dogecoin Talking Points:
More shift in the crypto space as Ethereum has caught the attention of bulls.
Both Bitcoin and Dogecoin remain on their back foot as ETH/USD has jumped to another fresh high.
The analysis contained in article relies on price action and chart formations. To learn more about price action or chart patterns, check out our DailyFX Education section.
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More shuffle in the crypto space but this time, Ethereum has outpaced both Bitcoin and Dogecoin over the past 24 hours.