22 Nov, 2024
5 minutes
Daily Technical Analysis：GBP/USD、 Gold
Welcome to our daily technical analysis of the financial markets, focusing today on GBP/USD and Gold. Let's dissect the latest news, market trends, and crucial price levels to watch out for.
1. GBP/USD Analysis:
News Summary:
Capital Economics said UK public borrowing data for October highlighted the fiscal challenges facing the government despite significant increases in spending and tax announced in the latest budget. Public borrowing excluding banks reached 17.4 billion pounds, above consensus expectations and up from 15.8 billion pounds in October 2023. This means that if the chancellor does want to increase day-to-day spending further, it is likely that tax will also need to be raised.
Trend Analysis:
We can see GBP/USD fluctuated downwards and ran below the 48 hours moving average on H4 chart. In addition, the MACD double line and energy column expands below the zero axis. The sell limit could be used, stop loss is necessary.
Today's Key Price Levels:
Key Support Levels: [1.2470]
Key Resistance Levels: [1.2700]
Pivot Points [1.2640]
2. Gold Analysis:
News Summary:
Gold's recent strength has been largely boosted by global geopolitical tensions. In particular, the escalation of the situation between Russia and Ukraine has caused investors to seek safe-haven assets. At the same time, the rise in U.S. Treasury yields and the high volatility of the U.S. dollar index have partially limited gold’s upside. In addition, the general optimism in the stock market has also weakened the appeal of gold, but overall, the dominant role of risk aversion still provides support for gold.
Trend Analysis:
We can see gold H4 level continues to rebound and runs above the 48 hours moving average. In addition, the MACD double line and energy column shrinks again near the zero axis. The buy limit could be used, stop loss is mandatory.
Today's Key Price Levels:
Key Support Levels: [2652]
Key Resistance Levels: [2716]
Pivot Points [2667]