Market Analysis
XAGUSD week ahead: silver holds gains, what to watch 2026-08-10
Silver closed last week at 63.516 after a sharp run higher, and this week is about whether that momentum holds against a stretched long position.
2 min readGBPUSD opened Monday at 1.34908 and slid straight into the week's low at 1.34168 before buyers stepped in. Price closed Friday at 1.34907, essentially flat on the week at roughly a single pip net change, but the path told a clearer story. After the early drop, each session printed a higher close until Friday's push back above 1.35000 intraday, leaving the pair right where it started but with momentum tilted upward into the weekend.
The scheduled calendar for GBPUSD is empty this week. That puts the focus on the broader dollar tone rather than a single sterling data print. The clearest thread running through the weekend headlines is USD/JPY erasing its non-farm payrolls drop, a sign the dollar found its footing after the jobs number. If that dollar strength carries over, sterling has to work against a firmer greenback to hold Friday's gains.
Commodity and rate signals fill in the rest. Citi lifted its Q3 Brent forecast to 80 dollars while Goldman Sachs looks for oil to soften below 70, a split view that keeps energy driven risk sentiment unsettled. With no domestic UK catalyst on the docket, GBPUSD is likely to trade as a dollar story, taking its cue from how the greenback behaves against the yen and the euro. Open an LHFX account to trade GBPUSD this week.
If the dollar extends the recovery seen in USD/JPY, GBPUSD faces pressure back toward last week's mid-range near 1.34500, and a break below that opens the door to the 1.34168 low. If the dollar stalls and sterling holds above Friday's close, the obvious level is the 1.35025 to 1.35086 zone that capped both Monday and Friday. A clean move through there is what buyers need to confirm the late-week momentum. Watch EUR/USD for confirmation, since a shared dollar move usually shows up there first.
Positioning is almost perfectly split, with 50.1 percent long and 49.9 percent short as of Monday. That is as close to neutral as this book gets. There is no crowded side to squeeze, which means direction this week is more likely to come from the dollar tone than from any positioning unwind. A near dead-even split tells you consensus has no strong conviction going in.
These are reference levels, not entry signals. The upper band sits at last week's high of 1.35086, backed by Monday's 1.35025 peak, and price rejecting there twice already makes it the key ceiling. On the downside, 1.34500 is the pivot the pair reclaimed mid-week, and below it the 1.34168 low is the floor that held. Holding above 1.34500 keeps the recovery intact, losing it puts the range low back in play.
Byline: LHFX Research
Risk disclaimer. CFD trading involves substantial risk and is not suitable for every investor. Leverage works both ways and can amplify losses beyond your initial deposit. The analysis above is general market commentary and does not constitute investment advice or a recommendation to buy or sell any instrument. LHFX is regulated by the FSC Mauritius and the FSCA in South Africa.
