The cable extended losses to December 2020 lows around 1.3155 after the 1.3170 support zone gave up
The safe-haven dollar extends the ascent as markets started the new week on a negative tone following the latest developments surrounding the Russia-Ukraine conflict. The USD index, which added more than 2% last week, exceeded the 99.00 figure, now targeting the 100.00 psychological level. As such, EURUSD plunged below 1.0900 to see fresh long-term lows around 1.0820 before bouncing marginally in recent trading. Following the initial plunge to the mentioned lows, the common currency has trimmed intraday losses partially and was last seen changing hands around 1.0860, down 0.60% on the day. The EURUSD pair could suffer even deeper losses in the coming days. Should the 1.0800 figure give up, the next target may well be at the 2020 low around 1.0650. On the upside, the immediate barrier for euro bulls now arrives at 1.0900, followed by the 1.0930.
GBPUSD has been under selling pressure for the third week in a row already. On Monday, the pair extended losses to December 2020 lows around 1.3155 and was last seen clinging to the lower end of the extended trading range, suggesting even deeper losses could lie ahead. As the prices failed to hold above late-2021 lows around 1.3170, the pound may now target the 1.3100 figure last seen in November 2020. On the shorter-term timeframes, the RSI has already entered the oversold territory and keeps pointing lower, which implies that the downside pressure could persist in the immediate term while the recovery potential looks too shallow at this point to bet on a bounce above the 1.3200 figure that represents the immediate target for GBP bulls. The pair was last seen trading around 1.3170, down 0.42% on the day.
USDJPY resumed the ascend after solid losses suffered on Friday when the dollar eased to local lows around 114.65. Today, the pair is back around the 115.00 figure but is yet to confirm recovery above this level on a daily closing basis as the pair may struggle to see more robust gains due to the persisting demand for the safe-haven Japanese yen. On the hourly charts, the greenback needs to regain the 100- and 200-SMAs around 115.25 in order to stage a more decisive bounce in the short term. Otherwise, the prices could get back below 115.00 during the upcoming North American session. In a wider picture, however, USDJPY says elevated while also holding above the ascending 20-week SMA, currently at 114.65. On the upside, the dollar could regain the 116.00 figure in the coming days of weeks if the mentioned moving average continues to act as support.
The BTCUSD pair has been trending lower for the fifth day in a row on Monday. The most popular digital currency failed to overcome the $45,000 barrier last week and has been retreating since then, being pressured along with traditional financial markets amid the persisting risk aversion. The coin extended losses to fresh March lows around $37,500 before bouncing above $38,000 in recent trading. In the process, the prices fell back below the descending 20-DMA that arrives just below the $40,000 figure that has turned back into resistance. As long as bitcoin stays below this level, downside risks continue to persist, with the $36,300 zone representing the next bearish target at this point. In the immediate term, however, it looks like BTCUSD could refrain from deeper losses as the prices try to settle above $38,000, while the overall trend remains bearish.