Daily Technical Analysis: GBP/USD, Crude Oil

This week, the Bank of England's decision to keep interest rates steady at 5.00% has set a cautious tone for GBP/USD, which is showing signs of upward momentum. Meanwhile, geopolitical tensions in the Middle East are providing support for crude oil prices, despite increasing U.S. inventories. With key price levels identified for both GBP/USD and crude oil, traders may find promising buy opportunities ahead. Stay tuned for more detailed analyses!

1. GBP/USD Analysis:
News Summary:
On Thursday, the Bank of England kept its benchmark interest rate unchanged at 5.00%, in line with market expectations. The bank cut interest rates by 25 basis points in August. Most members of the Monetary Policy Committee believe that a gradual reduction in interest rates is reasonable. The BOE voted 8 to 1 to keep the benchmark interest rate unchanged at 5%, with no one voting in favor of raising interest rates. BOE Governor Bailey said caution was needed not to cut interest rates too quickly or too much.

Trend Analysis:
We can see GBP/USD fluctuates upward and moves above the 48 hours moving average on H4 chart. In addition, the MACD double line and energy column expands again above the zero axis. The buy limit could be used, stop loss is mandatory.

Today's Key Price Levels:
Key Support Levels: [1.3220]
Key Resistance Levels: [1.3370]
Pivot Points [1.3260]

2. Crude Oil Analysis:
News Summary:
Escalating tensions in the Middle East provided some support for oil prices. Reports that Israel used explosives-laden drones to attack Hezbollah strongholds in Lebanon have raised concerns about supply disruptions. Hezbollah's promise of retaliation against Israel adds to uncertainty, which could limit the downside for oil markets. However, these geopolitical risks are not enough to offset the negative impact of rising US inventories.

Trend Analysis:
We can see crude oil H4 level oscillates and rebounds and runs above the 48 hours moving average. On the other hand, the MACD double line and energy bar converges above the zero axis. The buy limit could be placed, stop loss is necessary.

Today's Key Price Levels:
Key Support Levels: [68.60]
Key Resistance Levels: [74.70]
Pivot Points [70.00]