Welcome to our daily technical analysis of the financial markets, focusing today on GBP/USD and Crude Oil. Let's dissect the latest news, market trends, and crucial price levels to watch out for.
1. GBP/USD Analysis:
News Summary:
The pound may face further weakness in the near term as investors remain concerned about the recent spike in longer-dated UK government bond yields. The fall in sterling and rising treasury yields were linked to doubts about the government's ability to cut the public deficit amid sluggish domestic economic growth and the Bank of England's decision to keep bank interest rates at a high 4.75%. The British government may turn to overseas financing to support daily spending and avoid further rises in domestic borrowing costs.
Trend Analysis:
We can see GBP/USD rebounded from a low level and still ran below the 48 hours moving average on H4 chart. In addition, the MACD double line and energy column expand below the zero axis. The buy limit could be placed, stop loss is necessary.
Today's Key Price Levels:
Key Support Levels: [1.2090]
Key Resistance Levels: [1.2310]
Pivot Points [1.2150]
2. Crude Oil Analysis:
News Summary:
Despite the short-term correction in WTI crude oil prices, oil prices have risen nearly 10% since the beginning of 2025. Behind this increase, in addition to the market's reaction to Russian oil sanctions, there is also the support of strong U.S. economic data and technical breakthroughs. Market sentiment is still affected by multiple factors, especially the new U.S. sanctions against Russia and the upcoming U.S. inflation data. These factors may continue to affect the fluctuation and trend of oil prices.
Trend Analysis:
We can see oil price H4 level overrose and then pulled back, running above the 48 hours moving average. On the other hand, the MACD double line and energy bar began to expand downwards above the zero axis. The sell limit could be employed, stop loss is mandatory.
Today's Key Price Levels:
Key Support Levels: [76.00]
Key Resistance Levels: [80.50]
Pivot Points [79.00]
