Meyo_fx

Meyo_fx

Our technical rating for GBPUSD stock is sell today. GBP/USD Daily Outlook Intraday bias in GBP/USD is turned neutral as consolidation from 1.2596 extends. Outlook will stay bearish as long as 12.842 support turned resistance holds. Break of 1.2596 will resume the fall from 1.3433 to 100% projection of 1.3433 to 1.2842 to 1.3047 at 1.2456

Meyo_fx

Gold, and miners rallied yesterday, and in today’s pre-market trading, gold and silver are both up – despite a small move higher in the USD Index. This suggests that the rally in the former is not yet over, just as the decline is in the latter. In other words, the profits on the current long positions in the mining stocks are likely to increase shortly.

Meyo_fx

GBP/USD returned to gains after a six-day decline squeezed it to a six-month low of 1.2595. The pair rebounded near an important trendline from October 2023, and indicators like the RSI and stochastic oscillator suggest the price is likely set for an upward move from oversold territory.

Meyo_fx

GBP/USD returned to gains after a six-day decline squeezed it to a six-month low of 1.2595. The pair rebounded near an important trendline from October 2023, and indicators like the RSI and stochastic oscillator suggest the price is likely set for an upward move from oversold territory.