GBP/USD rebounds back to 1.2000 as dollar’s strength fades.

GBP/USD fails to break 1.2030/40 and retreats to 1.1955.The GBP/USD pair is hovering around 1.2000, around the same level it closed on Tuesday. Cable bottomed on European hours at 1.1954 and then rebounded to the 1.2000 area.

For the third consecutive day, GBP/USD failed to break the 1.2030/40 area and weakened. The current tone favors a correction that could face support at 1.1950 and 1.1920.In the short-term, if cable rises above 1.2010 it would gain support. While under 1.2040, gains seem limited. A consolidation above should clear the way to 1.2100.

EUR/USD holds steady above 1.0200 after US data

EUR/USD continues to trade above 1.0200 in the American session on Wednesday. The data from the US showed that Existing Home Sales fell sharply in June and didn’t allow the dollar to gather strength. Meanwhile, investors stay on the sidelines while waiting for the ECB meeting.


GBP/USD struggles to recover above 1.2000

GBP/USD is having a difficult time regaining its traction after having dropped below 1.2000 earlier in the day. Although the US Dollar Index stays quiet below 107.00, the cautious market mood doesn’t allow the British pound to gather strength.


Gold extends sideways grind above $1,700

For the third straight day on Wednesday, gold is fluctuating in a narrow band above $1,700 and struggling to make a decisive move in either direction. Although the 10-year US Treasury bond yield is down 2% on the day, the dollar’s resilience limits XAU/USD’s upside.

Gold News 

Crypto markets turn green as BTC marches to $25,000

Bitcoin price is making a significant move with a select few altcoins, including Ripple price. However, Ethereum seems to have taken a backseat and shows no signs of moving, at least for now.

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