GBPUSD hits another low
Cable continues to lose its dominance in the market, with price action falling to another fresh low. The multi-month high at the mid-1.36 level has favoured the pound for the majority of this year.
However, more bears could see the recent sell-off as an opportunity to join in on the action.
A break below 1.3510 could convince more conservative traders to jump in to lock in profits.
The downside would then see 1.3460 as a firm support level from the previous bounce.
XAUUSD loses momentum
Gold slides further as traders await the next signal regarding the ongoing war. A dramatic sell-off this week saw the price dive by over $100 as it looks to hold the 4500 level.
A successive break above 4750 could see bulls re-enter the uptrend.
4600 is the first hurdle if the price continues to fall.
4515 is a critical support for the yellow metal.
USOIL buyers step in
WTI crept higher amid recent global tensions that have unsettled the market across the board. With oil nearing a multi-week high, traders are expecting a push towards 106.00 in the near term.
Sellers struggled to hold the 100.00 level as the upward momentum continues.
The price might be vulnerable to a broader sell-off if it breaks below 96.80.
106.00 is the target ahead, should Iran and the White House fail to negotiate a peace plan.
Comments
Log in or sign up to join the conversation.