By Orbex
GBPUSD buried in bearish territory
The pound continues to retreat after Britain’s growth fell short of expectations in Q3. A break below September’s low at 1.3420 has invalidated the latest rebound, putting buyers on the defensive once again.
The RSI’s double bottom in the oversold area may ease the bearish push momentarily. A bounce could be an opportunity to sell into strength.
1.3500 is the immediate resistance. On the downside, renewed momentum would drive price action towards last December’s lows around 1.3200.
AUDUSD struggles for support
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.
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
The Australian dollar came under pressure after the unemployment rate returned above 5% last month.
The sell-off continued after a brief pause over the 30-day moving average near 0.7390, turning the latter into a fresh resistance. The lack of support suggests increasingly downbeat sentiment.
The base of October’s bullish breakout at 0.7240 is the next support. The RSI’s oversold situation may cause a limited rebound from the round number at 0.7300, though it is likely to turn out to be a dead cat bounce.
US 100 tests demand zone
The Nasdaq 100 suffers losses as high inflation dents risk appetite.
An RSI divergence showed a deceleration in the uptrend, a sign that the rally has overheated. Subsequently, a drop below 16200 has prompted leveraged buyers to exit for fear of a correction.
As the RSI inched into the oversold territory, the index saw bids near the breakout zone (15900) from earlier this month. The support-turned-resistance at 16200 is the first hurdle. Then the bulls will need to clear 16400 before the rally can resume.
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
- Global crude oil prices continued to decline. The AUD/USD exchange rate hit an 11‑week low Jun 23, 2026
- EUR/USD Remains Under Sellers’ Control as the Dollar Stays Strong Jun 23, 2026
- Gold Falls for the Third Consecutive Week: Is There Still Upside Potential? Jun 22, 2026
- Bank Indonesia raised its interest rate. Norges Bank and the SNB left rates unchanged Jun 19, 2026
- EUR/USD Loses Ground as Market Sentiment Favours the US Dollar Jun 19, 2026
- GBPUSD Awaits Bank of England Meeting Near April Lows Jun 18, 2026
- Markets disliked the results of the FOMC meeting. HKMA followed the Fed and kept its rate unchanged. Jun 18, 2026
- Gold Surges 2% Since Week Opening Amid Geopolitical Shifts and Fed Expectations Jun 17, 2026
- Your Bourse and FXPRIMUS Bring 24/7 Synthetic Indices to the Global Broker Market Jun 16, 2026
- Institutional investors continue to reduce their presence in metals Jun 16, 2026
