GBP/USD Price Analysis: Bulls struggle below 1.2600, have a bumpy road ahead.

GBP/USD remains sidelined after bouncing off the 21-DMA support.

GBP/USD portrays the typical pre-NFP trading lull as buyers and sellers jostle around 1.2580 during Friday’s Asian session.

The cable pair reversed from a fortnight low the previous day while posting the biggest daily jump in two weeks. The recovery moves gained support from the 21-DMA, as well as bullish MACD signals.However, recently smaller green bars on the MACD, the difference between the MACD line and signal line, join the 10-DMA level surrounding 1.2580 to challenge the GBP/USD pair’s immediate upside.

Even if the quote manages to cross the 1.2580 immediate hurdle, the latest swing high around 1.2670 precedes a convergence of the descending trend line from February 18 and 50-DMA, close to 1.2700-15, to challenge the pair buyers.Meanwhile, the pair’s downside past 21-DMA support of 1.2460 will need validation from the 1.2410-2400 region, comprising levels marked since April 28, to recall GBP/USD bears.Following that, the area surrounding the mid-1.2200s can act as the last defense for bulls before directing the prices down to May’s low of 1.2155.

EUR/USD clings to gains around 1.0750 ahead of US data

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EUR/USD News 

GBP/USD holds steady above 1.2550 ahead of US NFP, Biden’s speech

GBP/USD is defending gains above 1.2550, as the US dollar holds the lower ground amid pre-NFP anxiety and light trading. Hawkish expectations from the BOE vs. doubts on the Fed’s moves post-September probe bears. 

GBP/USD News 

Gold down but not out, key levels to watch

Gold Price is consolidating this week’s rebound to one-month highs above $1,870 on Friday, as bulls take a breather amid mixed markets. A sense of caution prevails, in the face of the recent series of disappointing US economic data.

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Bitcoin Weekly Forecast: $35,000 or $23,000, which CME gap gets filled first?

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