GBPUSD’s recent price action indicates a potential shift in momentum. This analysis examines the technical situation and explores potential scenarios for the currency pair.

Elliott Wave view on GBPUSD suggests that rally from 10.4.2023 low takes the form of an impulsive structure. Up from 10.4.2023 low, wave (1) ended at 1.2828.

The second wave correction in the Expanded Flat pattern, where we are in the middle of a decline in Wave C, will have five extended internal sub-waves.

Ether price witnessed a severe drop a few days ago, currently failing to maintain a trading position around $3,300. Whenever ETH approached the $3,000 mark, buyers stepped in, defending the support.

The Japanese Yen continues losing ground amid the divergent BoJ-Fed policy expectations. The recent intervention warnings by Japanese authorities do little to provide any respite.

GBP/USD trades on a weaker note around 1.2460 in Thursday’s early Asian session. The US Durable Goods Orders rose 2.6% in March, compared to the 0.7% increase (revised from 1.4%) in February.

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Tokyo desks are currently on high alert for any signs of intervention ahead of Friday's BOJ meeting, waiting for the “BOJQ on 20 million pls” to come through on the direct dealer machine.

The daily RSI of the AUD/JPY continues its uphill journey, nearing overbought territory, amplifying buying traction. Hourly indicators are also strong, with no signs of bears. A healthy correction shouldn't be ruled out.

The Guppy breaks into new chart territory above 193.60, a nine-year high. Deflating JPY is rapidly approaching standoff territory with nervous BoJ. Japanese inflation figures, BoJ rate call loom ahead on Friday.

After the close we saw the American Petroleum Institute (API) report that petroleum supplies came in tighter than the market was expecting.

Cotton was mostly lower yesterday although May closed a little higher on short covering before the deliveries start. Demand remains a problem.

Currently, gold is stuck between a rock and a hard place, a delicate equilibrium if you will.

Junk bonds, or high-yield bonds because the interest payments are higher than for the average corporate bond, pay high interest rates to entice investors to take on the greater risk of lending them money. Watch them to assess risk-on or -off.

My obsession with the Dow Utilities is waning swiftly. Perhaps someone as impatient as me shouldn’t mess with stuff that moves so glacially (and, recently, against me).

If we want 2% inflation, then we need M to grow about 2% faster than GDP.

The chemical properties of gold remain so useful that manufacturers continue to use gold in chips and sometimes in internal computer wiring and switches despite their cost.

I think it's going to be very nerve-wracking for bulls for the next week to 10 days.

Canadian Retail Sales flubbed forecasts, declining in February and kicking the legs out from beneath the CAD. 

Across the Eurozone, housing costs have surged significantly since the ECB started raising interest rates in July 2022.