By Orbex
GBPUSD rises to daily resistance
The US dollar tumbled after a worse-than-expected jobs report.
The pound had held well above the former resistance level of 1.3780. The long side gained confidence while the short side gave up.
Sentiment will remain upbeat as long as the rising trendline is intact. A close above 1.3950 may propel the price to the psychological level of 1.4000, which lies within a supply area on the daily chart.
However, a repeatedly overbought RSI may trigger a pullback. 1.3820 would be the first support in that case.
Free Reports:
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
XAUUSD tests key hurdle
Gold rose after lackluster nonfarm payrolls weighed on the US dollar. The precious metal has seen strong buying interest around the psychological level of 1800.
A bullish candle above 1832, the origin of the August sell-off would prompt sellers to reverse their bets, exacerbating the momentum in the process. Now that the major resistance withdrew, the bulls may have gained a free pass towards 1900.
As the RSI inches further into the overbought zone, 1811 is fresh support in case of a pullback.
GER 30 extends consolidation
Improved risk sentiment post-NFP continues to support the Dax 30. The index is grinding the 30-day moving average as the bulls consolidate their gains near the record high.
16000 has become a key hurdle as high valuation makes buyers think twice before committing more chips. Though layers of support indicate an upward bias and may offer some peace of mind.
A bullish breakout would trigger an extended rally when momentum traders join the party. A fall below 15650 would prolong the sideways action to 15500.
Article by Orbex
Orbex is a fully licensed broker that was established in 2011. Founded with a mission to serve its traders responsibly and provides traders with access to the world’s largest and most liquid financial markets. www.orbex.com
- Bitcoin has dropped below $70,000. The Bank of Mexico held its rate at 7% Feb 6, 2026
- Gold Closes with a Decline for the Second Week in a Row: Fewer Risks Feb 6, 2026
- The British Index has hit a new all-time high. Silver has plummeted by 16% Feb 5, 2026
- GBP/USD Under Local Pressure: Focus on Bank of England Signals Feb 5, 2026
- Bitcoin has plummeted to a 14-month low. Silver jumped by more than 10% Feb 4, 2026
- Gold is Back in the Black: Geopolitics Dictates Conditions Again Feb 4, 2026
- US natural gas prices collapsed by 21%. The RBA raised its interest rate by 0.25% Feb 3, 2026
- What goes up must come down… Feb 2, 2026
- Donald Trump appoints a new successor for the Fed chair. Precious metals hit by sell-off Feb 2, 2026
- USDJPY Realises Correction: BOJ Policy Weighs on Yen Feb 2, 2026
