GBPUSD has been tip toeing sideways over the past week within the range of 1.2150 – 1.2356, unable to extend its recovery off two-year lows.

The momentum indicators are reflecting a neutral bias as the latest rebound in the RSI has stalled marginally below its 50 neutral mark, while the MACD continues to grow gradually within the negative region and barely above its red signal line.

As regards the market trend though, the picture remains bearish given the lower lows and lower highs formed below the descending trendline. The falling simple moving averages (SMA) are also promoting the negative direction in the market.

A close above the 20-day simple moving average (SMA) and the 23.6% Fibonacci retracement of the 1.3747 – 1.1932 downtrend at 1.2356 could immediately pause around the descending trendline at 1.2465. The 50-day SMA is positioned in the same area. Therefore, another bullish break at this point could confirm an extension towards the 38.2% Fibonacci of 1.2622, where June’s peak is also placed. Should upside pressures accelerate from here, violating the negative trend pattern, the spotlight will shift up to the 50% Fibonacci of 1.2837.

Looking for support levels, the 1.2250 region has been cooling downside forces over the past week. Should that floor collapse, the 1.2150 restrictive region may come to the rescue, preventing a continuation towards the crucial zone of 1.1988 – 1.1932. In case the downtrend resumes below the latter, a new lower low could be formed around 1.1765, taken from March 2020.

In the four-hour chart, the pair keeps trading within a triangle for the second consecutive week.In summary, GBPUSD is holding a neutral-to-bearish status in the short-term picture. Failure to bounce above 1.2356, and more importantly beyond 1.2465, may shift attention back to the downside.

source : https://www.xm.com/research/analysis/technicalAnalysis/xm/technical-analysis-gbpusd-in-wait-and-see-mode-within-downtrend-162716

Solana co-founder Anatoly Yakovenko tells Decrypt about its new SMS platform and Android phone, the Solana Saga. Solana’s teasers leading up to yesterday’s “SMS” event suggested something to do with mobile, but few could have imagined the twist that was announced in New York City. Yes, Solana Labs has built a mobile software platform… but it’s also releasing a smartphone solana Labs yesterday revealed the Solana Mobile Stack (SMS) software kit, which provides tools for developing native Android mobile apps, walls, and games, and also includes a decentralized app store. The company also revealed the Saga, a powerful Android smartphone that will be released in early 2023. Anatoly Yakovenko, co-founder of Solana and CEO of Solana Labs, told Decrypt that his team has been working on the SMS push for about five months, and the hardware itself for a bit longer. But the idea of improving Web3 access and functionality on mobile has been in his head for years, particularly given his past experience as a Qualcomm engineer. “What does it look like with 1 billion people using [crypto]? What do you imagine? It’s in this device—the device you use everyday,” he said, holding up the Solana Saga prototype. “That has to be your hardware wallet. That’s just something that we always felt.” Yakovenko said the idea went from concept to reality once he met Jason Keats, founder and “Chief Hooligan” at OSOM Products. Keats was previously the R&D head at Essential, a startup that made its own Android phone, and OSOM will be doing much the same: the previously announced OSOM OV1 will now be rebranded as the Solana Saga. It’s a powerful device. The sizable Android handset will feature a Qualcomm Snapdragon 8+ Gen 1 processor, a 6.67” OLED display, 12GB RAM, and 512GB of internal storage. Given the chance to briefly hold the phone, we can say it very much looks and feels like a premium Android phone that you’d find from Google or Samsung, with a dash of iPhone-like minimalism. “It’s a pretty freakin’ cool device,” Yakovenko said. He added with a laugh, “Don’t drop it.”

Android runs on more than 3 billion devices around the world, so why build a new phone specifically for the Solana ecosystem? Yakovenko said that the device—which is estimated to sell for $1,000—will represent the gold standard for a Web3-centric smartphone, and showcase the full array of capabilities of the Solana Mobile Stack.

“Every developer that I talked to—we talked to them about mobile strategy, and how to grow to most of the rest of the world,” he said. “There’s a lot of friction in the App Store. When devs tell me that, I kind of start pacing around the room trying to figure out how to help them. It just feels like a natural opportunity to build a Web3-facing app store and Web3 device.”

He said that while other Android devices can adopt the full Solana Mobile Stack or even parts of it, the Solana Saga will give users and developers the complete experience with top-tier specs. And the Saga is not just meant as a secondary device: it’s a robust smartphone with the full suite of Google apps and services, like most other popular Androids.

“I think it’s important to have a flagship [phone] that shows that this is a full integration,” Yakovenko added. “This is the best version of it.”

Besides, it’s not a given that other Android devices will adopt Solana Mobile Stack. It’s an open-source platform and the aim is widespread adoption, so Solana Labs hopes to see every major manufacturer integrate it. However, phone makers will need to put in the work to support this crypto software—a relatively niche and oft-controversial thing.

“If we start succeeding, then I think the dominoes will start falling in terms of crypto adoption in both of those companies,” he said, when asked about SMS on Samsung and Google devices.

What about Apple’s iPhone and the iOS ecosystem, though? Unlike Android, which has been forked and adapted for any number of devices, Apple keeps a tight lock on iOS.