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08 May, 2025
5 minutes

Daily Technical Analysis:GBP/USD、USD/JPY

Introduction: Welcome to our daily technical analysis of the financial markets, focusing today on GBP/USD and USD/JPY. Let's dissect the latest news, market trends, and crucial price levels to watch out for.

 

1. GBP/USD Analysis:
News Summary:
Bank of America predicts that the Bank of England will decide to cut interest rates by 25 basis points to 4.25% by a majority vote of 8-1 on Thursday, and individual members of the Monetary Policy Committee may vote for a larger 50 basis point cut. The potential economic risks brought about by Trump's tariff policy, improved domestic inflation and lower energy costs provide sufficient reasons for this rate cut. In addition to the possible rate cut on Thursday, the BOE is expected to cut interest rates twice more in the rest of the year.

Trend Analysis:
We can see GBP/USD is consolidating and running near the 48 hours moving average on H4 chart. In addition, the MACD double line and energy bar shrink near the zero axis. The sell limit could be used, stop loss is necessary.

Today's Key Price Levels:
Key Support Levels: [1.3230]
Key Resistance Levels: [1.3400]
Pivot Points [1.3350]
2. USD/JPY Analysis:

News Summary:
The Fed's vague policy direction and repeated judgments on inflation have reduced the market's confidence in its outlook. The Japanese yen has benefited significantly as a safe-haven currency. Once a risk event is resolved, its buying momentum may be strengthened again. The current market sentiment generally tends to fluctuate and be bearish. If some countries continue to reduce their holdings of US dollar reserves, and if trade-related news fails to make substantial progress, the attractiveness of the US dollar as a reserve currency will further decline. The US dollar against the Japanese yen may enter a medium- and long-term volatile downward range.

Trend Analysis:
We can see USD/JPY rebounded at H4 level and ran near the 48 hours moving average. On the other hand, the MACD double line and histogram bar expand below the zero axis. The buy limit could be placed, stop loss is mandatory.

Today's Key Price Levels:
Key Support Levels: [142.40]
Key Resistance Levels: [145.50]
Pivot Points [143.00]

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