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Estimated go-live time: 10:00 AM UTC, June 7, 2025
Introduction: Welcome to our daily technical analysis of the financial markets, focusing today on GBP/USD and Crude Oil. Let's dissect the latest news, market trends, and crucial price levels to watch out for.
1. GBP/USD Analysis:
News Summary:
British gilt yields jumped sharply on Wednesday, sending the pound tumbling. The day before, the British government was forced to make a huge concession on its plans to cut welfare benefits. The decline in British gilt yields accelerated after the chancellor showed unease in parliament. The market is reassessing the outlook for UK fiscal policy, so the British gilt yield curve has steepened sharply. The vote in the House of Commons gives people reason to rethink the possible outlook for public borrowing.
Trend Analysis:
We can see GBP/USD fell back from its H4 level high and came below the 48 hours moving average. On the other hand, the MACD double line and energy bar converge near the zero axis. The sell limit could be placed, stop loss is necessary.
Today's Key Price Levels:
Key Support Levels: [1.3500]
Key Resistance Levels: [1.3750]
Pivot Points [1.3680]
2. Crude Oil Analysis:
News Summary:
OPEC crude oil production hit a four-month high as Saudi Arabia led a surge in Middle East exports to regain market share, surveys showed. Saudi Arabia is directing OPEC+ to quickly restore supply despite weak oil demand and a looming global oil glut. The policy adds downward pressure on crude oil prices, which could be a salve for consumers and a reassurance for Trump.
Trend Analysis:
We can see crude oil rebounded and returned above the 48 hours moving average on H4 chart. In addition, the MACD double line and histogram bar shrink near the zero axis. The sell limit could be set, stop loss is compulsory.
Today's Key Price Levels:
Key Support Levels: [64.00]
Key Resistance Levels: [71.00]
Pivot Points [69.00]
