12 August 2025,05:31
Chart The Market
12 August 2025, 05:31
GBPUSD, H4:
The British pound has mounted a notable recovery against the U.S. dollar, successfully reversing its prior downtrend and establishing a new upward trajectory. The pair’s ability to consistently hold above the technically significant 61.8% Fibonacci retracement level at 1.3423 suggests underlying strength, though recent price action shows signs of potential fatigue as the rally enters a consolidation phase.
The Relative Strength Index hovering near overbought territory (currently around 65) confirms the strength of the recent advance, but also raises caution about overextended positioning. Meanwhile, the Moving Average Convergence Divergence indicator flirts with a potential bearish crossover—a development that, if confirmed, could precede a near-term pullback.
The 1.3423 Fibonacci level now serves as critical support, with a decisive daily close below this mark potentially invalidating the bullish structure and reopening the door to downside pressure. Conversely, should the pair maintain its footing above this level, the next resistance zone appears near the 1.3535-1.3650 area.
Resistance Levels: 1.3535, 1.3650
Support Levels: 1.3290, 1.3160
BTC, H4
Bitcoin has mounted a robust recovery from its recent corrective phase, successfully reversing the bearish momentum that had briefly driven prices below the $112,000 support level. The cryptocurrency demonstrated renewed strength by decisively reclaiming the $116,000 threshold before accelerating more than 5% higher, bringing it within striking distance of its all-time peak above $120,000.
The rally encountered mild resistance near record levels, with prices retracing toward $118,000 in the previous session to fill a fair value gap that had formed during the rapid ascent. Bitcoin has since stabilized above the $119,000 level, with a sustained hold above this zone potentially reinforcing the bullish technical structure.
Technical indicators present a nuanced picture following the sharp recovery. The Relative Strength Index has moderated from overbought conditions, suggesting some near-term exhaustion after the rapid advance. Concurrently, the Moving Average Convergence Divergence has formed a bearish crossover at elevated levels, indicating the potential for consolidation or a modest pullback before any renewed upward momentum.
Resistance Levels: 122,340.00, 125,650.00
Support Levels: 117,200.00, 111,750.00
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