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Pound Nears 1.2800, Nikkei Rises, Oil Drops Below $78.

By Research Team Tuesday, Aug 13, 2024
GBP/USD

    • 11.30amD1
    • High1.2808
    • Low1.2762
    • Close1.2802

GBP/USD is trading at 1.2800, 0.34% up since previous day close. Tuesday’s European session sees the GBP/USD pair gaining momentum and moving closer to 1.2800. The ILO Unemployment Rate dropped to 4.2% in the three months, according to UK data, which helped the pound find demand. A gap up opening indicating a bullish trend, according to the daily chart analysis. When looking up, 1.2803 is the nearest resistance. Should it break, the support is 1.2724 and the reach is 1.2839.

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Daily Outlook

GBP/USD

Intra Day
Near Day

Technical Levels

R3 1.2861
R2 1.2839
R1 1.2803
Turnaround 1.2771
S1 1.2724
S2 1.2662
S3 1.2614
By Research Team Tuesday, Aug 13, 2024
GER 30

    • 11.35amD1
    • High17764.00
    • Low17694.00
    • Close17753.00

GER30 is trading at 17756, 0.27% up since previous day close. Tuesday saw the sixth straight session in the green led by tech and industrial behemoths as Frankfurt’s Dax hovered above the flatline at 17,775, as markets continued to assess the impact of a slowing economy on the corporate sector ahead of important price data by the US this week. The RSI hits 42.76, indicating a neutral view, according to the daily chart analysis. 17319 is the nearest support, and 17832 is the closest resistance.

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Daily Outlook

GER 30

Intra Day
Near Day

Technical Levels

R3 18542.00
R2 18042.00
R1 17832.00
Turnaround 17710.00
S1 17319.00
S2 17010.00
S3 16817.00
By Research Team Tuesday, Aug 13, 2024
WTI

    • 11.40amD1
    • High79.96
    • Low79.53
    • Close79.83

WTI is trading at 79.81, 0.10% down since previous day close. The ANZ Bank noted on Tuesday that as traders consider additional short-term disruptions and concerns about an Iranian reaction to recent attacks intensify, crude oil prices have surged. Concerns about demand in big consumer countries like the United States and China have put pressure on prices since OPEC’s most recent meeting, the bank said. As for today, the market is optimistic. 76.68 is the closest support, and 80.35 is the closest resistance.

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Daily Outlook

WTI

Intra Day
Near Day

Technical Levels

R3 83.75
R2 83.25
R1 80.35
Turnaround 79.08
S1 76.68
S2 74.61
S3 73.04
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