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GBP/USD Struggles at 1.3000; WTI Steady Above $81.50; German Stocks Lower.

By Research Team Thursday, Jul 18, 2024
GBP/USD

    • 11.30amD1
    • High1.3044
    • Low1.2963
    • Close1.3008

GBP/USD is trading at 1.3001, 0.05% down since previous day close. GBP/USD remains in the daily range of 1.3000 following the UK jobs data. According to UK data, the ILO Unemployment Rate did not cause any significant changes during the three months leading up to May, remaining stable at 4.4% as predicted. The GBP/USD pair appears to be technically overbought. There is a downward opening gap; the market may consolidate from here. the nearest resistance is 1.3041. The closest support is 1.2960.

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Daily Outlook

GBP/USD

Intra Day
Near Day

Technical Levels

R3 1.3110
R2 1.3076
R1 1.3041
Turnaround 1.3001
S1 1.2960
S2 1.2899
S3 1.2845
By Research Team Thursday, Jul 18, 2024
GER30

    • 11.35amD1
    • High18593.00
    • Low18352.00
    • Close18446.00

GER30 is trading at 18423, 0.12% down since previous day close. After three days of losses, European equities were predicted to remain stable at the opening on Thursday, as a steep rotation move out of high-flying Big Tech firms appeared set for a respite. The ECB, which was largely expected to leave rates unchanged at its policy meeting later in the day, is the next risk event. Today’s market is in a downward trend. The nearest resistance is at 18586, and the closest support is at 18335.

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Daily Outlook

GER30

Intra Day
Near Day

Technical Levels

R3 18939.00
R2 18756.00
R1 18586.00
Turnaround 18423.00
S1 18335.00
S2 18219.00
S3 18023.00
By Research Team Thursday, Jul 18, 2024
WTI

    • 11.40amD1
    • High82.71
    • Low80.43
    • Close82.70

WTI  is trading at 83.16, 0.58% up since previous day close. WTI, unable to take advantage of the advance, consolidates in a narrow band close to the weekly peak and maintains above the mid-$81.00s. As of right now, the commodity is trading almost unchanged for the day, hovering around $81.65. Central banks will loosen policy faster, boosting the demand for commodities worldwide. a gap that opened up today. WTI is rising at the moment. If it breaks through the significant barrier of 83.80, it will rise to 84.68, with support at 80.43.

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Daily Outlook

WTI

Intra Day
Near Day

Technical Levels

R3 82.70 0.58 Gain bullish 84.68
R2 83.80
R1 83.14
Turnaround 83.16
S1 80.43
S2 79.49
S3 78.81
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