The GBP/USD went into the weekend near the 1.35575 as financial institutions have braced for what will prove to be a significant handful of days ahead for the currency pair and the broad Forex market.
The following are the most recent pieces of Forex technical analysis from around the world. The Forex technical analysis below covers the various currencies on the market and the most recent trends, technical indicators, as well as resistance and support levels.
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Weaker than expected US PPI data sent the major US stock market indices and the precious metals Gold and Silver to new record highs.
WTI Crude Oil has gone into the weekend near the 62.150, and this feels like a rather solid accomplishment considering the loud highlights which took place over the past handful of days.
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Explore this week’s forex forecast: GBP/USD at 1.36, Bitcoin eyes $120K, Fed decision looms. Key levels, sentiment & setups to watch.
USD/INR faces strong resistance at ₹88.50, forming a rising wedge. Support at ₹87 and 50-day EMA, with upside potential toward ₹89 if bullish breakout continues.
USD/ZAR turned sharply bearish after breaking below 17.50, with downside targets at 17.25 and 17.00 as selling pressure builds.
EUR/USD stays rangebound between 1.16 and 1.18 after the ECB’s rate hold, with traders awaiting the Fed’s decision for the next breakout signal.
The DAX remains choppy below its 50-day EMA, with support at €23,250 and resistance at €24,600 as traders await clearer momentum after the ECB decision.
The S&P 500 surged above 6580 with momentum building toward 6700, while support holds at 6500–6480 within a broader bullish channel.
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Nvidia stock is set to open higher after a 4% jump, with traders eyeing a breakout above $185 while dips remain attractive buying opportunities.
NZD/USD is attempting to rally toward the key 0.60 resistance, with 0.5850 acting as support as markets weigh Fed and RBNZ rate cuts.
Crude oil remains rangebound with $62 acting as key support and $67 as resistance, as oversupply and weakening demand limit upside potential.
Bitcoin remains steady above $110K and the 50-day EMA, with bulls eyeing $117K–$120K while $105K serves as critical long-term support.
Silver (XAG/USD) is consolidating after recent gains, with support at $40 and a bullish setup targeting $44.60–$45.
Gold (XAU/USD) remains strongly bullish near $3625, with bulls eyeing $3700 as Fed rate cut expectations and geopolitical tensions boost safe-haven demand.