Free Forex Signals

GBP/USD maintains a small bearish “reversal day” to suggest the recovery is over. Analysts at Credit Suisse look for an eventual retest of the 1.0347 low.

Support seen at 1.0933/16, then 1.0786.“Support is seen at 1.1057/55 initially, then price support from the top of the late September base at 1.0933/16. Below here is seen needed to add further momentum to the decline with support seen next at 1.0786 ahead of 1.0539 and eventually back to the 1.0347 low.” 

“Big picture, we look for an eventual test of the key psychological parity level.”“Resistance is seen at 1.1186 initially, with a move back above 1.1227 needed to raise the prospect of further high-level ranging and a fresh test of resistance at 1.1490/1.1500, but with sellers expected to again show here.”

EUR/USD holds steady near 0.9700 in choppy session

Following the decline witnessed during the European trading hours on Monday, EUR/USD is having a tough time making a decisive move in either direction as it continues to fluctuate at around 0.9700. Wall Street’s main indexes trade mixed after the opening bell.

EUR/USD News 

GBP/USD stays under bearish pressure below 1.1100

GBP/USD has failed to stage a steady rebound after BoE announced new support measures on Monday and retreated toward 1.1050. The cautious market mood helps the greenback preserve its strength on Monday with the US Dollar Index clinging to gains near 113.00.

GBP/USD News 

Gold gathers bearish momentum, drops below $1,680

Gold remains under heavy selling pressure for the fourth successive day on Monday and trades at its lowest level in a week below $1,680. US bond markets will be closed on Monday but aggressive Fed rate hike bets and risk-aversion continue to boost the USD.