USDX
104.333

0.17%

XAUUSD
1816.53

0.26%

WTI
109.262

0.90%

EURUSD
1.04236

0.10%

GBPUSD
1.22520

0.08%

USDJPY
129.082

0.10%

USNDAQ100
12318.17

0.39%

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Turkey Witnesses Bitcoin Frenzy Amid Economic Turmoil

Cryptocurrency ownership is soaring in Turkey as high inflation and a weak lira prompt Turks to seek ways to preserve the value of their savings. Concerns rise about a fast-growing industry and legislation is overdue.

Skepticism About Sudanese Military's Calls for Dialogue

Analysts believe the recent call by Sudan's military leaders for a dialogue to overcome the ongoing political crisis will not lead to any results.

After Reopening, Thailand's Battered Tourism Struggles to Rebuild

Authorities hope 5 to 15 million visitors will visit the country this year, down from 40 million before the pandemic.

China's Economy Cools Down Significantly. Will the CNY Continue to Depreciate?

Under the impact of the pandemic, China's economy cooled down significantly in April, with downward pressure on the economy coming to the fore and the CNY exchange rate continuing to depreciate, but the economy is also expected to improve with the better conditions of the pandemic and policy stimul

PENDING

WTI: Several Indicators Are Driving Oil Prices Higher

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XAUUSD: Prices Could Enter Medium-Term Recovery Phase After Sharp Sell-Off

PENDING

GBPUSD: GBP Has Been Fluctuating Downward, Recommended to Buy Low and Sell High

TRADING

EURUSD: Here Comes EUR Weakness as It Falls Back after a Rise

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      GBPUSD: Uptrend Could Stop at 1.2400 after Short-term Spike of 70+ Points

      Summary:

      The non-farm payroll data will be released during the day, which is expected to be favorable to the USD's bullish trend. The focus should be on the average hourly earnings data. If there is a significant increase in this data, it could trigger market concerns about stagflation in the U.S., at which point the USD might face a decline.

      Sell GBPUSD EXPIRED
      EXP

      1.24000

      ENTRY PRICE

      1.22730

      TGT PRICE

      1.24302

      SL PRICE

      1.22520 -0.00097 -0.08%

      --

      Point

      EXPIRED

      1.22730

      TGT PRICE

      TARGET UNREACHED

      1.23438

      CLOSING PRICE

      1.24000

      ENTRY PRICE

      1.24302

      SL PRICE

      Fundamentals

      As expected, the Bank of England (BoE) raised interest rates by 25 basis points to 1% in yesterday's policy meeting, in line with market expectations. This is also the BoE's highest interest rate level since 2009. However, despite the rate hike, the BoE is pessimistic about the future economic outlook. Governor Bailey said that recent inflation is well above the target level while indicating the possibility of more aggressive rate hikes is unlikely to happen. Affected by this, the GBP plunged 170 points, coupled with later market expectations of a 75 basis point Fed rate hike heating up. Under such double pressure, the GBP plunged to 1.2324, a new low since June 28, 2020.
      The USD is currently weakening in the short term due to stagflation concerns. The non-farm payroll data will be released during the day, which is expected to be favorable to the USD's bullish trend. The focus should be on the average hourly earnings data. If there is a significant increase in this data, it could trigger market concerns about stagflation in the U.S., at which point the USD might face a decline.

      Technical Analysis

      In the 1W timeframe, there are three supports below the GBP, the golden mean of 50.0 (1.2308); the historical trend in the intensive support (April 7, 2022 - June 30, 2022) 1.2247; and the trend line of 1.2225. For now, the GBP may stop falling until there are no new important data. The non-farm payroll data during the day will be an opportunity.
      GBPUSD: Uptrend Could Stop at 1.2400 after Short-term Spike of 70+ Points_1
      In the 4H timeframe, the support below the GBP is the bottom of the downward channel (1.2273). The short-term focus should be given to this line. If this line is broken, the GBP will start a new round of decline in a short period of time. The strong resistance above is the bottom of the narrow fluctuation range in the historical trend (1.2470). In terms of indicators, STS, Ichimoku, and DMI are showing that the GBP will witness a round of short-term rise. Considering the non-farm payroll that is favorable to the bullish trend of the USD, it is recommended to go short at higher levels after the rise of the GBP.GBPUSD: Uptrend Could Stop at 1.2400 after Short-term Spike of 70+ Points_2
      Support: 1.23399, 1.23037, 1.22730
      Resistance: 1.23730, 1.24269, 1.24700
      Risk Warnings and Investment Disclaimers
      You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or strategy, or any other product is suitable for you based on your investment objectives and financial situation.

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      Jason

      analyst

      I have an in-depth study of fundamentals, especiaslly for the US dollar market. I'm good at short and medium term trading by virtue of my profound financial theoretical knowledge and extensive practical experience.

      Rank

      4

      Articles

      96

      Win Rate

      64.00%

      P/L Ratio

      1.28

      Most Traded Assets

      USDX、EURUSD、GBPUSD

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      EXPIRED
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