Copper price remains affected by stochastic negativity, attempting to reach below $5.9700 to increase the chances of activating the temporary bearish corrective trend, to reach $5.8900 followed by $5.8200 level, which represents a new extra support against the current trading.
Forming a strong obstacle at $6.1200 level against the bullish attempts will increase the chances of forming negative attempts, to keep waiting to reach the previously suggested stations, to monitor its behavior to confirm the suggested trend in the upcoming trading.
The expected trading range for today is between $5.8200 and $6.0500
Despite the weakness of the EURGBP last trading and its stability neat 0.8675 level, its overall stability within the minor bearish channel levels which are represented by 0.8715 level as an extension of the main resistance, besides providing negative momentum will increase the chances of targeting new negative stations that might begin at 0.8630 and 0.8600.
Stochastic is fluctuating near 20 level to provide extra negative momentum to activate the bearish trend and reaching the previously suggested stations.
The expected trading range for today is between 0.8630 and 0.8690
2026.04.24 2026.04.24 GBP/USD: Elliott Wave Analysis and Forecast for 24.04.26–01.05.26
Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/
The article covers the following subjects:
Major Takeaways
Main scenario: Consider long positions from corrections above the level of 1.3165 with a target of 1.3870–1.4300. A buy signal: the price holds above 1.3165. Stop Loss: below 1.3125, Take Profit: 1.3870–1.4300.
Alternative scenario: Breakout and consolidation below 1.3165 will allow the pair to continue declining to the levels of 1.2936–1.2736. A sell signal: the 1.3165 level is broken to the downside. Stop Loss: above 1.3205, Take Profit: 1.2936–1.2736.
Main Scenario
Consider long positions above the level of 1.3165 with a target of 1.3870–1.4300 once the correction ends.
Alternative Scenario
Breakout and consolidation below 1.3165 will allow the pair to continue declining to the levels of 1.2936–1.2736.
Analysis
On the weekly timeframe, an ascending wave of larger degree (A) of B is developing. Within it, wave 1 of (A) has formed, and a downward correction has been completed as wave 2 of (A). The third wave 3 of (A) appears to continue forming on the daily chart, with wave iii of 3 developing as its part. On the H4 timeframe, the third wave of smaller degree (iii) of iii has presumably started to form, within which wave i of (iii) has formed and a local correction ii of (iii) is developing. If the presumption is correct, GBP/USD will continue to rise to the levels of 1.3870–1.4300 after the correction ends. The level of 1.3165 is critical in this scenario as a breakout below it will enable the pair to continue declining to the levels of 1.2936–1.2736.
This forecast is based on the Elliott Wave Theory. When developing trading strategies, it is essential to consider fundamental factors, as the market situation can change at any time.
Price chart of GBPUSD in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance broker. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2014/65/EU.
According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
The British pound finds itself recovering as we are at the 1.35 level again. This is a market that has been a bit more positive in general over the last year and a half or so than many others against the US dollar. So, not a surprise if we’re seeing the Euro bounce that we’re seeing the pound bounce.
I still see a lot of noise just above though, and I think that even if we were to see this market rally from here to the 1.36 level, I don’t think it’s going to be easy. I don’t necessarily want to short this market, at least not yet, but signs of exhaustion could have me interested.
2026.04.24 2026.04.24 EUR/USD: Elliott Wave Analysis and Forecast for 24.04.26–01.05.26
Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/
The article covers the following subjects:
Major Takeaways
Main scenario: Consider long positions from corrections above 1.1445 with a target of 1.2088–1.2400. A buy signal: the price holds above 1.1445. Stop Loss: below 1.1405, Take Profit: 1.2088–1.2400.
Alternative scenario: Breakout and consolidation below 1.1445 will allow the pair to continue declining to the levels of 1.1185–1.1000. A sell signal: the 1.1445 level is broken to the downside. Stop Loss: above 1.1485, Take Profit: 1.1185–1.1000.
Main Scenario
Consider long positions above the level of 1.1445 with a target of 1.2088–1.2400 once the correction ends.
Alternative Scenario
Breakout and consolidation below 1.1445 will allow the pair to continue declining to the levels of 1.1185–1.1000.
Analysis
On the weekly timeframe, an ascending wave of larger degree B is developing, with wave (A) of B forming as its part. On the daily timeframe, the third wave 3 of (A) is apparently unfolding. Within it, wave i of 3 has formed, corrective wave ii of 3 has been completed, and wave iii of 3 has started developing. The first wave of smaller degree (i) of iii is forming on the H4 chart. As its parts, wave iii of (i) has been completed, and a local correction iv of (i) is nearing completion. If the presumption is correct, EUR/USD will continue to rise to the levels of 1.2088–1.2400 after the correction ends. The level of 1.1445 is critical in this scenario. A breakout below it will allow the pair to continue falling to the levels of 1.1185–1.1000.
This forecast is based on the Elliott Wave Theory. When developing trading strategies, it is essential to consider fundamental factors, as the market situation can change at any time.
Price chart of EURUSD in real time mode
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance broker. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2014/65/EU.
According to copyright law, this article is considered intellectual property, which includes a prohibition on copying and distributing it without consent.
GBP/JPY advance stalled around 215.70 on Thursday, retreating to 215.00 as risk appetite deteriorated amid Middle East headlines, leaving traders uncertain about the conflict’s outcome. The cross trades at 215.06 at the time of writing.
GBP/JPY Price Forecast: Technical Outlook
The GBP/JPY pair is consolidating for the second straight day, suggesting that further gains are off the table, with the psychological 216.00 level not yet tested. Worth noting that every upside move towards the latter was rejected, with the 214.00 figure capping downward moves.
Momentum is bullish, as depicted by the Relative Strength Index (RSI), though moving gradually towards its 50 neutral level.
If GBP/JPY closes daily below 215.00, the potential to test the April 17 swing low of 214.00 increases. On further weakness, the next support would be the 20-day Simple Moving Average (SMA) at 213.35, followed by the 50-day SMA at 211.98.
On the other hand, if GBP/JPY registers a new yearly high above 215.91, the chance of clearing 216.00 increases.
GBP/JPY Price Chart – Daily
GBP/JPY daily chart
Japanese Yen Price This week
The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies this week. Japanese Yen was the strongest against the Swiss Franc.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
0.50%
0.17%
0.59%
0.09%
-0.05%
0.15%
0.64%
EUR
-0.50%
-0.32%
0.07%
-0.39%
-0.52%
-0.39%
0.14%
GBP
-0.17%
0.32%
0.41%
-0.06%
-0.19%
-0.06%
0.47%
JPY
-0.59%
-0.07%
-0.41%
-0.51%
-0.58%
-0.45%
0.07%
CAD
-0.09%
0.39%
0.06%
0.51%
-0.03%
0.05%
0.53%
AUD
0.05%
0.52%
0.19%
0.58%
0.03%
0.20%
0.70%
NZD
-0.15%
0.39%
0.06%
0.45%
-0.05%
-0.20%
0.50%
CHF
-0.64%
-0.14%
-0.47%
-0.07%
-0.53%
-0.70%
-0.50%
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).
EUR/JPY inches higher after three days of gains, trading around 186.60 during Asian hours on Friday. The technical analysis of the daily chart indicates the currency cross is positioned slightly below the ascending channel, signaling potential for a bearish reversal.
However, the EUR/JPY cross holds a constructive bullish bias as it remains above the 50-day Exponential Moving Average (EMA) while facing immediate friction at the nine-day EMA.
Additionally, the 14-day Relative Strength Index sits around 58, comfortably above the midline yet below overbought territory, which suggests positive but not overstretched momentum that could favor further upside as long as the EUR/JPY cross holds over the underlying average.
The EUR/JPY cross is testing the immediate barrier at the nine-day EMA of 186.69. A rebound back to the ascending channel would reinforce the bullish bias and support the EUR/JPY cross to test the all-time high of 187.95, which was recorded on April 17. Further advances above this level would support the currency cross to explore the region around the upper boundary of the channel, around 189.40.
On the downside, further declines would put downward pressure on the EUR/JPY cross to navigate the region around the 50-day EMA at 184.86.
EUR/JPY: Daily Chart
(The technical analysis of this story was written with the help of an AI tool.)
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the New Zealand Dollar.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
0.09%
0.10%
0.05%
0.10%
0.17%
0.21%
0.12%
EUR
-0.09%
0.00%
0.00%
0.00%
0.08%
0.12%
0.04%
GBP
-0.10%
-0.01%
-2.13%
0.02%
0.08%
0.12%
0.02%
JPY
-0.05%
0.00%
2.13%
0.03%
0.10%
0.14%
0.03%
CAD
-0.10%
0.00%
-0.02%
-0.03%
0.06%
0.10%
0.02%
AUD
-0.17%
-0.08%
-0.08%
-0.10%
-0.06%
0.04%
-0.07%
NZD
-0.21%
-0.12%
-0.12%
-0.14%
-0.10%
-0.04%
-0.09%
CHF
-0.12%
-0.04%
-0.02%
-0.03%
-0.02%
0.07%
0.09%
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
The Pound to US Dollar (GBP/USD) exchange rate traded without a clear direction on Thursday, as a combination of upbeat UK PMI data and a cautious market mood pulled the pair in opposite directions.
At the time of writing, GBP/USD hovered around $1.3505, having faced narrow volatility throughout the session.
The Pound (GBP) had a muted start to the trading session, drifting lower as markets considered the possible economic consequences of the Middle East crisis, including concerns that the UK government might introduce tax increases later this year.
As the day went on, however, Sterling found renewed support following the release of the UK’s preliminary April PMI data, which exceeded expectations in both the manufacturing and services sectors.
The services sector, in particular, drew focus, with activity rising from 50.5 to 52, outperforming forecasts that had pointed to a slowdown towards the 50 threshold.
The data also revealed stronger-than-expected growth in price pressures.
Reflecting on the results, Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, said that price growth has surged at a pace rarely observed outside of the pandemic period, indicating that inflation may climb higher than many analysts had projected.
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This led markets to revise their expectations for monetary policy, with speculation that the Bank of England (BoE) could still pursue tightening this year helping to underpin the Pound.
The US Dollar (USD) found early support as a cautious market mood boosted demand for safe-haven assets, with investors unsettled by developments in the Middle East.
While the US moved to extend its ceasefire arrangement, Iran signalled it had not formally accepted the agreement, citing the continued US blockade of the Strait of Hormuz. At the same time, reported attacks on vessels in the region added to investor unease.
Ongoing uncertainty and heightened geopolitical tensions dampened market sentiment, helping to underpin the US Dollar.
Short-Term GBP/USD Forecast: UK Retail Sales in Focus
Looking ahead, attention turns to the UK’s March retail sales release on Friday. A slight rebound of around 0.2% growth may offer some support to Sterling, though any upside is likely to be modest.
For the US Dollar, focus will shift to the University of Michigan’s final consumer sentiment reading. If the data confirms a sharp drop in household confidence during April, it could place some pressure on USD.
Broader market sentiment is also expected to remain a key driver of GBP/USD. Continued developments in the Middle East may inject further volatility, with shifts in risk appetite potentially causing fluctuations in the currency pair.
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The USD/JPY pair extends its four-day upside to near 159.75 during the European trading session on Thursday. The pair reflects strength as the US Dollar (USD) outperforms its peers due to rising oil prices amid the prolonged closure of the Strait of Hormuz.
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the New Zealand Dollar.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
0.20%
0.10%
0.16%
0.03%
0.32%
0.48%
0.11%
EUR
-0.20%
-0.08%
-0.06%
-0.17%
0.11%
0.28%
-0.11%
GBP
-0.10%
0.08%
0.04%
-0.09%
0.21%
0.37%
-0.03%
JPY
-0.16%
0.06%
-0.04%
-0.14%
0.17%
0.29%
-0.06%
CAD
-0.03%
0.17%
0.09%
0.14%
0.31%
0.45%
0.06%
AUD
-0.32%
-0.11%
-0.21%
-0.17%
-0.31%
0.16%
-0.27%
NZD
-0.48%
-0.28%
-0.37%
-0.29%
-0.45%
-0.16%
-0.40%
CHF
-0.11%
0.11%
0.03%
0.06%
-0.06%
0.27%
0.40%
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
As of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.2% higher to near 98.80, the highest level seen in over a week.
Higher oil prices have boosted United States (US) inflation expectations, a scenario that discourages the Federal Reserve (Fed) from easing its monetary policy. According to the CME FedWatch tool, the odds of the Fed holding interest rates steady in the current range of 3.50%-3.75% in the December meeting are 76.8%.
In Thursday’s session, investors will focus on the preliminary US S&P Global Purchasing Managers’ Index (PMI) data for April, which will be published at 13:45 GMT. The US private sector business activity growth is expected to have increased due to improvement in both the manufacturing and the services sector output.
Meanwhile, the Japanese Yen (JPY) trades mixed against its major currency peers, as investors shift focus to the Bank of Japan’s (BoJ) monetary policy announcement on April 28, Tuesday.
USD/JPY technical analysis
USD/JPY trades higher at around 159.75 at the press time. The pair holds a bullish near-term bias amid the sustainability of a Descending Triangle breakout/ Also, rising 20-day Exponential Moving Average (EMA) at 159.11 bollters the near-tem bullish tone. This positioning suggests dips are still being bought, while the Relative Strength Index (RSI) near 57 stays in positive but not overbought territory, hinting that upside momentum is constructive yet controlled.
Looking up, the pair could extend its upside towards an over 21-month high at 160.46; a sustained move above that level would widen the scope for further upside towards 161.00. On the downside, immediate support is seen at the former resistance trend line around 159.41, followed by the 20-day EMA at 159.11. A deeper pullback could challenge the horizontal support of the triangle formation near 157.64.
(The technical analysis of this story was written with the help of an AI tool.)
(This story was corrected on April 23 at 11:59 GMT to say that the USD/JPY pair extends its four-day upside to near 159.75, not its two-day upside.)
US Dollar FAQs
The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022.
Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away.
The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates.
When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback.
In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system.
It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar.
Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.
The EUR/USD pair witnessed a decline during today’s trading as fears of persistent global inflationary pressures grew. This bolstered demand for the US Dollar as a safe haven, pushing the pair to test significant technical support levels.
This decline came amid a renewed rise in oil prices, coinciding with stalled efforts to calm geopolitical tensions. This has reignited fears of a new inflationary wave that might force central banks to maintain tight monetary policies for longer, providing additional support to the USD at the expense of the European currency.
According to top trading platforms, the pair recorded losses extending to 1.1703, settling near the psychological support level of 1.1700. This indicates increasing selling pressure and the likelihood of a continued downward correction in the short term, especially given the diminished risk appetite in the markets.
The euro came under increased pressure after data showed a decline in eurozone consumer confidence to -20.6 in April, compared to -16.4 in March. This indicates continued caution among European households regarding spending, amid concerns about the ongoing repercussions of geopolitical tensions and rising energy costs.
This decline reflects the fragility of the eurozone’s economic recovery, which could limit the euro’s ability to make significant gains against the dollar in the current period, especially given the continued relative strength of the US economy.
Dollar Benefits from Safe-Haven Flows Despite Political Pressure
Despite continued US political pressure to lower interest rates, the US dollar continues to benefit from safe-haven flows amid rising global uncertainty. In this context, analysts believe that any further escalation of geopolitical tensions could further support the dollar, while a reduction in risks could pave the way for a gradual recovery of the euro in the coming weeks.
Technical Analysis of the EUR/USD Pair Today
Technically, the EUR/USD pair is moving near a key support zone at 1.1700. A clear break below this level could open the way for further declines towards 1.1660 and then 1.1620. The Relative Strength Index (RSI) is showing a gradual decline towards neutral levels, reflecting the weakening of previous upward momentum, while the MACD is trending negatively, which supports the likelihood of continued short-term selling pressure.
Conversely, the pair needs to break above 1.1800 to return to an upward trend and target 1.1820 and then 1.1880.
Trading Advice:
Dear TradersUp trader, we still prefer selling the EUR/USD pair on every strong upward bounce, but without risk. Be cautious of trading when price movements are within extremely narrow ranges.
