Gold (XAUUSD) no slow in momentum
 

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Gold pulls back slightly from hitting another record as bulls await the next round of the FOMC. A close above the former daily support of 3920 prompted some sellers to cover their positions, as the bullish run continues. A brief consolidation has found some support, and a higher high indicates mounting pressure. 3980 is the next threshold, and 3950 is the first support in case of a fallback, as the RSI becomes overbought again.

GBPUSD holding on
 

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Cable remained indecisive after failing to maintain the previous bullish momentum, as price action slid 50 pips. The price could continue to be skewed to the upside after testing the 1.3500 level. The RSI’s consolidation in the neutral area could attract some intraday profit-taking if traders lose confidence in the pair. A close above 1.3580 next to a previous candle’s long upper shadow could ease any fears of a sell-off. A drop below 1.3400 would renew the selling.
 

GER 40 attempts to break higher
 

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The index is looking for a test back towards the 24000 area, as European stocks digest the resignation of the latest French Prime Minister after 27 days in office. The latest move saw renewed buying pressure at 24400, suggesting that the index has stabilised on its corrective path. A close back above the previous spike of 24550 would help the bulls regain control and open the door to an extended rebound. On the downside, 24250 is a fresh support for the bulls to regroup.

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