GBPUSD finds support
The pound continues to bounce back after the recent sell-off that saw over 100 pips wiped off the value of cable. The pair has met buying interests near the previous swing low of 1.3320.
An oversold RSI suggested a move away from a further downturn.
A close above the first resistance of 1.3460 will ease some of the pressure.
Bulls will need to clear the next hurdle at 1.3520 before cable can resume the uptrend.
A deeper correction would send the pair towards 1.3250.
USDCAD maintaining the uptrend
The Canadian dollar looks to stop the rot after the pair hit another higher high.
On the chart, price action remains torn between 1.3960 and 1.3920 as the pair awaits the next direction.
The continued recovery has hit resistance just above 1.3960, as buyers look towards 1.3980 as an immediate top.
Any signs of exhaustion and prices could revisit 1.3860, where a breakdown would make the pair vulnerable to a bearish drive towards 1.3800.
XAUUSD losing momentum
Gold remains pressured with the ongoing geopolitical tensions, which have led to a choppy ride for the yellow metal.
Fresh selling and profit-taking have seen prices drift lower, with 4290 acting as a critical floor to keep the directional bias upward.
The RSI’s oversold situation has attracted some buyers, and 4400 is the first hurdle to clear to the upside.
Only a close above 4440 would attract momentum buyers and signal a bullish continuation towards 4560.
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