GBP/USD is trading around 1.2950, extending its gains. The Conservatives have been extending their gains in polls. PM Johnson and opposition leader Corbyn will address a business conference today. The Relative Strength Index on the four-hour chart is well above 70 – indicating overbought conditions. Will GBP/USD fall? Other indicators are positive – momentum is to the upside and sterling trades above the 50, 100, 200 Simple Moving Averages. Overall, a downside correction may be expected, but GBP/USD still has room to extend its gains afterward. Resistance awaits at 1.2980, which was the high point at the end of October. It is followed by 1.3013, the peak of October and the highest in six months. Further above, 1.3045, 1.3080, and 1.3175 – all dating back to the spring – are eyed.Some support awaits at 1.2950, which capped the pound in early November. It is followed by 1.2900, a swing high from last week, and then by 1.2820 and 1.2760.
10 Jul 2020 04:28 PM
Indian shares closed lower on Friday as record daily increases of domestic coronavirus cases threatened to disrupt an economic recovery, with financial stocks taking the brunt of the losses.
10 Jul 2020 02:34 PM
The Indian rupee logged its worst week against the dollar in 14 weeks
10 Jul 2020 02:07 PM
Sterling traded slightly lower versus the U.S. dollar and was unmoved against the euro on Friday
10 Jul 2020 11:51 AM
Indian shares fell on Friday as a relentless surge in domestic coronavirus cases threatened to disrupt an economic recovery, although gains in pharmaceuticals and heavyweight Reliance Industries helped limit losses.
10 Jul 2020 11:15 AM
The yuan pulled back from a four-month high against the dollar on Friday as China's stock market rally ran out of steam
10 Jul 2020 10:49 AM
Gold was set for a fifth straight weekly gain on Friday as worries over a spike in U.S. coronavirus cases kept the safe-haven metal near the technical $1,800-per-ounce threshold.