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GBP Rises on Economic Data, Silver Reacts to Demand, US30 Volatile on Indicators and News.

By Research Team Wednesday, Apr 24, 2024
GBP/USD

    • 11.35amD1
    • High1.2457
    • Low1.2331
    • Close1.2453

GBP/USD is trading at 1.2458, 0.82% up since previous day close. The British pound strengthened against other major currencies in the European session on Tuesday, after a survey showed that U.K. private sector activity expanded for the sixth consecutive month In April. U.K. public sector borrowing declined in the financial year ending March but it remained well above the official estimate. On daily chart this pair move out from support zone after continues declined this momentum may continue till rate cut related news from European Bank and Bank England.

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Daily Outlook

GBP/USD

Intra Day
Near Day

Technical Levels

R3 1.251
R2 1.2505
R1 1.2457
Turnaround 1.246
S1 1.235
S2 1.2303
S3 1.24
By Research Team Wednesday, Apr 24, 2024
US30

    • 11.30amD1
    • High38590
    • Low38240
    • Close38540

US30 is trading at 38550 0.69% up since previous day close. Wall street indexes closed higher for two consecutive sessions, as a recent rout in technology stocks gave way to bargain buying. The sector, along with boarder benchmark indexes. Electric car maker Tesla Inc jumped 12.4% in aftermarket trade to a nine-day high. on daily chart US30 is above from their support zone may this bullish momentum continue till tech earing published.

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Daily Outlook

US30

Intra Day
Near Day

Technical Levels

R3 38950
R2 38760
R1 38600
Turnaround 38500
S1 38278
S2 38128
S3 38000
By Research Team Wednesday, Apr 24, 2024
SILVER

    • 11.40amD1
    • High27.36
    • Low26.64
    • Close27.26

SILVER is trading at 27.40, 0.42% up since previous day close. After sharp declined from 28.63 on Monday in the fear of war prices saw a modest uptick of 0.12%, closing at 80678, as investors regained confidence in riskier assets following a de-escalation of Middle East tensions. Iran’s downplaying of the Israel attack helped ease geopolitical concerns, prompting a shift towards risk-on sentiment. However, the dollar strengthened to around six-month highs due to hawkish Fed commentary, dampening demand for dollar-denominated metals like silver.

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Daily Outlook

SILVER

Intra Day
Near Day

Technical Levels

R3 28
R2 27.8
R1 27.4
Turnaround 27
S1 27.07
S2 26.6
S3 26
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