GBP/CAD remains under bearish pressure, driven by divergent central bank policies and economic health. With the BoE cautious amid mixed data and the BoC benefiting from stable conditions, a short position is recommended with targets aligned to technical support levels and a sound risk-reward ratio.
GBP/JPY has shown mixed signals recently, with moving averages and central bank divergences supporting a bullish view. However, inflation and employment data discrepancies pose potential challenges. Key levels to watch are 191 for support and 198 for resistance.
The GBP/JPY pair faces downside risks amidst divergent central bank policies and weakening UK economic data. Key technical levels show resistance at 194.00, with support near 190.10, where the 200-day SMA stands. With bearish sentiment growing, the outlook for GBP/JPY remains negative, supported by the recent death cross and weaker UK fundamentals.
NVDA is consolidating after a strong bullish run, with current indicators pointing towards sideways movement. RSI and volume suggest reduced momentum, but the long-term trend remains intact. Traders should consider buying near the $115 level with a target of $135, capitalising on a favourable risk-reward setup.
Introduction The USD/JPY pair has experienced significant volatility recently. This volatility is largely driven by contrasting monetary policies and mixed economic signals from the US and Japan. The Federal Reserve remains hawkish, signalling that further rate hikes might be necessary. On the other hand, the Bank of Japan maintains its dovish stance, continuing with its ultra-loose monetary policy. Uncertainty surrounding US interest rates and Japan’s fragile economic recovery are contributing……
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Introduction The British Pound is exhibiting a bullish move against the Canadian Dollar, driven by a recent series of strong economic data from the UK, contrasted with mixed economic signals from Canada. As the Bank of England (BoE) faces increased pressure to maintain higher interest rates due to persistent inflation, the Bank of Canada (BoC) contends with softer economic growth and fluctuations in oil prices—Canada’s key export. This divergence has……
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Broadcom (AVGO) is nearing key resistance at $180, with the current price at $172.69. A pullback to the 50-day MA at $157.89 is anticipated, offering a more favourable entry point for long positions, with potential upside to $180. Traders are advised to wait for a dip, as the stock faces immediate resistance and may consolidate before making further gains.
Warner Bros. Discovery stock appears to be at a pivotal resistance level. A wait-and-see approach, pending a breakout above key moving averages, is recommended. Analysts are bullish, but technical confirmation is crucial for a favourable risk-adjusted entry.
NVIDIA (NVDA) is showing a bearish reversal with resistance at $121.40 and a bearish engulfing pattern. The RSI is neutral at 55, and the 50-day moving average at $115.85 is a critical support. Technical indicators suggest a possible short-term downside.
The GBP/JPY pair shows signs of a bearish reversal after rejecting key resistance at 195.00. While the long-term outlook for GBP remains positive due to interest rate divergence, short-term risks favour a retracement. Keep an eye on inflationary concerns in the UK and a fragile economic backdrop, which could weigh on the currency pair in the coming days.
