GBPJPY stuck sideways
The pound has failed to revive itself after last week’s sell-off saw the pair lose over 400 pips. Prices are probing the 213.30 level in the hope of shaking off the prolonged sideways movement.
On the hourly time frame, the pair needs to close above 214.00 to move higher and increase buying interest.
A close below the recent low of 211.70 could begin a continuation of the previous bearish rally.
If the psychological level at 210.00 is broken, a deeper correction could take place.
XAUUSD pulls lower
Gold continues pulling lower as sentiment shifts again. After a dip below 4580, prices crept lower but held above 4500. Bears could see some pullback as a bullish divergence emerges on the RSI.
A move towards 4480 could lead to a deeper correction.
Should the yellow metal attempt another push higher, prices will first need to move past 4640 to open up a path towards 4700.
GER 40 hits resistance
The Dax steadies itself for another upswing after hitting resistance. Price action has been mainly bullish in recent sessions, as a close above 24500 is the next target for bulls.
The limited downside retracement has met renewed buying interest.
A climb back above 24500 could attract more buyers and open the door to a move higher.
A sentiment shift could open the door towards 23700 with the RSI moving back into neutral territory.
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