Daily Technical Analysis: GBP/USD, Crude Oil

1. GBP/USD Analysis:
News Summary:
The new British government is busy dealing with the mess left by the Conservative government in the country. No matter what the new government’s intention is to declare a fiscal gap, it should be a consensus for the British government that tax reform should not be too radical. There are lessons learned in this regard. In September 2022, then Prime Minister Truss attempted to implement the most radical tax reduction plan in 50 years, planning to eliminate up to 45 billion pounds in taxes by 2027.

Trend Analysis:
We can see GBP/USD fluctuated at low level and ran below the 48 hours moving average on H4 chart. Moreover, the MACD double line and histogram bar form bottom divergence below the zero axis. The buy limit could be used, stop loss is necessary.

Today's Key Price Levels:
Key Support Levels: [1.2610]
Key Resistance Levels: [1.2780]
Pivot Points [1.2650]

2. Crude Oil Analysis:

News Summary:
Oil prices continue to move higher as market sentiment temporarily improves. Market participants are keeping a close eye on geopolitical tensions as any major conflict in the Middle East could severely impact supply and support oil prices. The economic outlook remains another factor weighing on oil prices, with recent data showing a year-on-year decrease in oil imports by some East Asian countries. An unexpected build in US inventories may have further fueled the bearish sentiment.

Trend Analysis:
We can see the H4 level of crude oil continued to rebound and crossed the 48 hours moving average. In addition, the MACD double line and energy column expanded below the zero axis. The buy limit could be arranged, stop loss is mandatory.

Today's Key Price Levels:
Key Support Levels: [73.70]
Key Resistance Levels: [78.00]
Pivot Points [74.50]