The Pound Is Neutral Ahead Of GDP Data

• 10 Sep 2018

 

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USD/JPY

The USD/JPY pair is recovering from the 110.65 support level, after a strong bearish move appears to have been replaced with bullish sentiment.  Momentum indicators are neutral.

 

 

 

 

 

EUR/USD

The EUR/USD pair continues to test the 1.153 support level as the pair enters into a new trading range between the 1.153 and 1.179 price levels. Momentum indicators are mixed; with MACD breaking the zero line and RSI displays a downward trajectory.

 

 

 

 

 

GBP/USD

The GBP/USD pair’s bullish recovery appears to have been stalled. Price action rejected the 1.306 price level and turned bearish. However, it appears buyers may make another attempt as momentum indicators suggest favour is with the bulls.

Impact event: UK GDP figures will be released at 08:30 GMT and will impact all GBP pairs.

 

 

 

 

 

 

USD/CHF

The USD/CHF pair has begun to move away from a key support level at the 0.963 price line, as buyers seem to have returned to the pair. MACD has stalled in bearish territory and RSI has broken the 30 support level.

 

 

 

 

 

USD/CAD

The USD/CAD pair has rallied significantly in recent trading, however the break of the 1.316 resistance line was short-lived. The pair is now testing the ascending trendline. MACD has broken the zero line to the upside and RSI is approaching oversold conditions.

 

 

 

 

 

SILVER

Silver has experienced a break to the downside of the descending triangle which confirms the bearish bias. A series of doji candles may indicate a rest period in the longer-term bearish trend. MACD has extended its bearish position and volume has increased into the bearish move.

 

 

 

 

GOLD

The recent bullish move has culminated in a break of the descending trendline and the metal is now testing the 1209.70 support level. A series of doji candles indicates indecision from traders. MACD is undergoing a momentum reversal and RSI has stalled in neutral territory.

 

 

 

 

 

OIL

Oil has reverted a break of the 68.84 price level which is a key resistance line. The break has also included an ascending trendline, with sellers testing the 67.32 price level. MACD is still testing the zero line and RSI has a downward trajectory.