technical

The GBP/USD pair is showing bearish signs near the 50-day EMA, with potential downside toward 1.32 as resistance at 1.35 holds firm.

Gold (XAU/USD) opens with a bullish gap and hits a fresh record high at the start of a new week amid the global flight to safety, with traders now awaiting a move beyond the $4,700 mark before positioning for further gains.

EUR/USD extended its decline to a five-week low as a head-and-shoulders pattern signaled further downside ahead of key EU inflation data and central bank updates.

The EUR/USD pair fell to a fresh January low of 1.1593, closing the week a handful of pips above the 1.1600 mark. Sellers defended the upside at around the 1.1700 level for a second consecutive week, despite broad US Dollar (USD) weakness.

The Pound Sterling (GBP) started off the week on a firm footing against the US Dollar (USD) and jumped to 1.3486 on Monday, following criminal charges against Federal Reserve’s (Fed) Chair Jerome Powell over cost overrun in the reconstruction of Washington’s headquarters.

The GBP/USD went into this week near a low of 1.33764, this after making a high around the 1.34955 vicinity on Tuesday of this past week. Risk adverse attitudse in the broad Forex market correlated to the downturn of the GBP/USD.