GBP/USD has reversed its direction following Wednesday’s rebound. As FXStreet’s Eren Sengezer notes, the near-term technical outlook points to a slightly bearish bias.Buyers are struggling to retain control of the action.“The static resistance that seems to have formed at 1.3430 stays intact and buyers are unlikely to show interest in the pair unless it manages to flip that level into support.”
“On the downside, interim support is located at 1.3350 ahead of 1.3300 (psychological level) and 1.3270 (static level). A daily close below the latter could be taken as a strong bearish sign and open the door for an extended slide toward 1.3200 (psychological level).”“On the flip side, 1.3450 (50-period SMA on the four-hour chart) and 1.3500 (psychological level, 100-period SMA, 200-period SMA) align as next hurdles above 1.3430.”
EUR/USD News …GBP/USD recaptures 1.3400 despite cautious mood, USD strength.GBP/USD is heading higher above 1.3400 amid a cautious market mood. The US dollar is defending the bids ahead of the Russia-Ukraine peace talks. The developments relating to the Ukraine crisis will dominate the market. UK/US Services PMIs awaited.
GBP/USD News .Gold looks to $1,950 again ahead of Russia-Ukraine peace talks.Gold price extends its range play around the $1,930 level for the third consecutive day, reversing a part of Wednesday’s sell-off. Soaring oil prices, a fallout of the Russia-Ukraine crisis, have refueled stagflation concerns worldwide, reviving gold’s demand as a safe haven.
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