Forex Top Team

GBP/USD (British Pound/US Dollar) Strong Buy, Featured Currencies and Technical Analysis (15 minutes) March 4, 2024


GBP/USD (British Pound/US Dollar) – Strong Buy

The GBP/USD pair is showing slight upward movement, testing a breakout at 1.2660. Pressure on the dollar is evident due to US business activity statistics.

EUR/USD (Euro/US Dollar) – Strong Buy

The EUR/USD pair is showing a minor uptrend, testing a breakout at 1.0845. Traders are awaiting new market developments, with February business activity data from S&P Global expected from the EU tomorrow. Additionally, the outcome of the European Central Bank (ECB) meeting on Thursday is eagerly awaited.

NZD/USD (New Zealand Dollar/US Dollar) – Strong Buy

The NZD/USD pair is demonstrating a gentle decline while testing a breakdown at 0.6100. Traders are awaiting new movements and are focusing on statistics from New Zealand and Australia.

USD/JPY (US Dollar/Japanese Yen) – Strong Buy

The USD/JPY pair is showing slight upward movement, testing a breakout at 150.25. Traders continue their analysis based on economic statistics from the US and Japan.

XAU/USD (Gold/US Dollar) – Sell

The XAU/USD pair is showing a weak corrective decline near 2080.00, falling from the recent local high on December 4th. Gold has responded most actively to increased physical demand and the release of macroeconomic data from the US.

This week, attention is focused on the release of important economic indicators such as inflation statistics from the Eurozone and the US, the ECB meeting, and the US labor market report. These data releases have the potential to significantly impact currency pair movements, and traders are strategizing based on these indicators.

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