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Analysis of GBP/USD on May 10, 2021. Scotland to sue London and Boris Johnson

13:58 2021-05-10 UTC--4 Relevance up to 12:00 2021-05-11 UTC--4

Author: Alexander Dneprovskiy

Popular analitics

EUR/USD: plan for the US session on May 10 (analysis of morning trades)

06:25 2021-05-10 UTC--4

EUR/USD: plan for the European session on May 10. COT reports. Bulls aim to surpass 1.2181, but there may be problems with it

04:22 2021-05-10 UTC--4

GBP/USD: plan for the European session on May 10. COT reports. Pound surges after US labor market report and will continue to rise

04:24 2021-05-10 UTC--4

US dollar is in big trouble. Overview of USD, EUR, GBP

05:20 2021-05-10 UTC--4

Best trading week for gold

04:17 2021-05-10 UTC--4

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Hot topic: Coronavirus (COVID-19)

Wave analysis Relevance up to 12:00 2021-05-11 UTC--4

Analysis of GBP/USD on May 10, 2021. Scotland to sue London and Boris Johnson

For the Pound/Dollar instrument, such movements continue, which are very difficult to attribute to any particular wave structure. Starting from April 20, the movement is such that it is generally difficult to guess what kind of wave it is (downward).

Wave analysis Relevance up to 12:00 2021-05-11 UTC--4

Analysis of EUR/USD on May 10, 2021. US dollar collapsed on weak non-farm

The wave counting on the 4-hour chart is still absolutely clear and does not require any additions. Supposed wave 2 as part of the new upward trend is presumed to be completed.

Crypto-currencies Relevance up to 10:00 2021-05-11 UTC--4

Ethereum catches up with bitcoin in capitalization

The decline in popularity and demand for bitcoin can be seen not only in the value of the cryptocurrency. If you open the news feeds, presently, 40% of the total number of messages is devoted to Ethereum.

News Relevance up to 09:00 2021-05-11 UTC--4

Dollar collapse: New targets for EUR/USD and GBP/USD

The shock report on the US labor market best explains why Fed officials are reluctant to start talking about the upcoming rollback of monetary stimulus.

Stock Markets Relevance up to 10:00 2021-05-12 UTC--4

Trading Signal for Nasdaq 100 #NDX for May 10 - 11, 2021: Key level 13,606

Conversely, a break below the 21 SMA and 200 EMA, there could be a continuation of the downward movement to the 13.437 (6/8) support zone...

Technical analysis Relevance up to 10:00 2021-05-12 UTC--4

Trading Signal for GBP/USD for May 10 - 11, 2021: Sell Below 1.4160

In the American pre-market, the GBP / USD pair is trading at 1.4110 at the time of writing this article. The bias is still strongly bullish. Until the 8/8 zone of murray, there is the strong resistance of 1.4160.

Crypto-currencies Relevance up to 10:00 2021-05-11 UTC--4

Elliott wave analysis on Dogecoin suggests a new low ahead below $0.41

Dogecoin has moved in an impulsive pattern from the beginning of its up trend to recent all time highs. Now it is time for a correction and so far we have seen most probably only the first part of the correction.

Trend line Relevance up to 09:00 2021-05-11 UTC--4

USDJPY supported

USDJPY has turned lower from the 109.60 level as expected. Price has reached the upward sloping important support trend line and so far traders respect it. In order for price to continue lower towards 106, bears will need to break this trend line support.

Technical analysis Relevance up to 09:00 2021-05-11 UTC--4

Gold continues its climb towards $1,868

Gold price after breaking above $1,797 resistance has not looked back. Price has exploded higher and has already reached the first target area of $1,837. Now price is above $1,840 and is heading towards our next target of $1,868.

Technical analysis Relevance up to 09:00 2021-05-12 UTC--4

Trading Signal for EUR/USD for May 10 - 11, 2021: Sell Below 1.2170

In the New York pre-market, the EUR / USD pair is trading at 1.2163, above 7/8 of murray and above the SMA of 21 in 4-hours charts. The currency pair is showing some exhaustion of the bullish momentum.

Technical analysis Relevance up to 09:00 2021-05-11 UTC--4

EURUSD bearish divergence in Daily chart

Despite the new higher high in price of EURUSD, the RSI is not following and has provided us with the first bearish divergence in the Daily chart. This is not a reversal signal but an important warning for bulls to be cautious.

Crypto-currencies Relevance up to 09:00 2021-05-11 UTC--4

XRP/USD still below key resistance, vulnerable to a move towards $1.30

XRP/USD is still trading below $1.55-$1.65 resistance. Bulls are still unable to break above the resistance are in order to continue higher towards $1.80-$2. As we mentioned in our previous analysis on XRP/USD, as long as price is below $1.60, it is vulnerable to a deeper pull back.

Crypto-currencies Relevance up to 06:00 2021-05-11 UTC--4

Elon Musk and the Bank of England warn to take caution in investing in cryptocurrencies

Bitcoin continued its upward movement this weekend, but at the same time, it clearly lacks new fundamental reasons to continue this very rise. Simply put, despite breaking the important 61.8% Fibonacci level on the daily time frame, bitcoin's upward trend seems unlikely to continue.

Fundamental analysis Relevance up to 05:00 2021-05-15 UTC--4

The pound spread its wings

Disappointing US employment statistics and the loss of an absolute majority of seats in local parliament by the Scottish National Party pushed GBP/USD quotes to their highest levels since late February.

Fractal analysis Relevance up to 06:00 2021-05-11 UTC--4

Fractal analysis of major currency pairs on May 10, 2021

The EUR/USD pair is expected to continue its growth after the level of 1.2211 is broken. The key intraday support level is 1.2119. The GBP/USD pair is expected to continue the upward movement

Crypto-currencies Relevance up to 07:00 2021-05-11 UTC--4

BTC analysis for May 10,.2021 - Rising wedge in creation and potential drop towards $53.000

Watch for selling opportunities if you see the breakout...

Technical analysis Relevance up to 07:00 2021-05-11 UTC--4

EUR/USD analysis for May 10 2021 - Bear flag in creation and potential for drop towards 108.35

Watch for selling opportunities...

Technical analysis Relevance up to 05:00 2021-05-11 UTC--4

Technical analysis and recommendations for EUR/USD and GBP/USD on May 10, 2021

Bullish traders still exited the uncertainty zone last Friday. They managed to fix a high, seen above the bearish preconditions of the previous week. The resistance levels has been broken through

Technical analysis Relevance up to 07:00 2021-05-11 UTC--4

Analysis of Gold for May 10,.2021 - Extreme upside reading and potential for downside correction towards $1.815

Watch for selling opportunities...

Wave analysis Relevance up to 05:00 2021-05-13 UTC--4

Wave analysis for the EUR/USD on May 10, 2021

Let's analyze the situation of the EUR/USD pair from the viewpoint of the classic Elliott wave analysis.

Technical analysis Relevance up to 05:00 2021-05-11 UTC--4

Trading idea for GBP/USD

Pound finally went above 1.4 after trading sideways for nearly two weeks.

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We present to you the daily updated section of market analysis prepared by professional analysts of InstaForex Company. Each of the specialists represented in this section, carries out analytical reviews in accordance with his/her vision of the current situation on foreign exchange and other markets. However, the outlooks below are only recommendations and not instructions to any actions; they contain analysis of the current situation on the currency market. In some cases the analysts' opinions to changes in the current market situation can differ, in this way, we recommend you to follow the publications of only one analyst, who in your view most clearly and correctly evaluates the situation on the international Forex market.