EUR/USD Price Analysis: The 1.1100 barrier is just around the corner.

EUR/USD’s upside falters just ahead of 1.1100 once again.A sustainable advance seems likely once 1.1100 is cleared.EUR/USD keeps the march north well in place and always with the immediate target at the 1.1100 barrier so far on Thursday.

Further recovery appears on the table for the time being. The surpass of with the 2023 high at 1.1095 (April 26) should encourage the pair to rapidly leave behind the round level at 1.1100 before embarking on a potential visit to the weekly high at 1.1184 (March 21 2022)

Looking at the longer run, the constructive view remains unchanged while above the 200-day SMA, today at 1.0429.

How will Euro react to ECB rate decision and policy outlook? – LIVE

The European Central Bank (ECB) is forecast to raise its key rates by 25 bps in May but the Euro’s reaction will depend on whether the bank looks to stay on a tightening path in the face of tightening financial conditions. President Lagarde will speak at a press conference later.

GBP/USD extends correction, holds above 1.2550

GBP/USD has extended its technical correction in the European session after having faced stiff resistance near 1.2600. The cautious market mood helps the US Dollar limit its Fed-inspired losses and weighs on the pair ahead of mid-tier data releases from the US.

GBP/USD News

Gold retreat appears elusive beyond $2,025

Gold price (XAU/USD) eases its gains and trades below $2,040 after refreshing the highest level on record at $2,080 earlier. Bulls take a breather ahead of the key ECB monetary policy meeting on early Thursday, as well as await Friday’s US NFP.