GBP/USD Price Analysis: Exceeds 38.2% Fibo retracement and 200-EMA, 1.2700 eyed.

A bullish reversal has been triggered as the asset has overstepped 38.2% Fibo retracement.The asset is comfortably balancing above the 200-EMA.The RSI (14) has shifted into a 60.00-80.00 range, which adds to the upside filters. The GBP/USD pair is sensing a mild selling pressure near 1.2660 after a vertical upside move in the Asian session.Continue reading “GBP/USD Price Analysis: Exceeds 38.2% Fibo retracement and 200-EMA, 1.2700 eyed.”

Gold Price Forecast: XAUUSD remains depressed below $1,850, flits with 200-DMA support.

Some follow-through USD buying dragged gold prices lower for the second straight day on Thursday.Recession fears continued weighing on investors’ sentiment and could lend support to the XAU/USD. Traders look forward to the US GDP report and other macro releases for some meaningful impetus. Gold extended the overnight retracement slide from over a two-week highContinue reading “Gold Price Forecast: XAUUSD remains depressed below $1,850, flits with 200-DMA support.”

Gold Price Analysis: XAU/USD slides back to mid-$1850s, eyes 200DMA pre-Fed minutes.

Weak US Durable Goods Orders data has failed to spur a gold rebound as traders await Fed speak/minutes.XAU/USD was last trading lower by over 0.5% in the mid-$1850s, with the bears eyeing a retest of the 200DMA. Though weaker than expected just-released US Durable Goods Orders data for April saw long-term US yields hit freshContinue reading “Gold Price Analysis: XAU/USD slides back to mid-$1850s, eyes 200DMA pre-Fed minutes.”

GBP/USD slides back below 1.2500 with Fed speak/minutes in focus.

GBP/USD has fallen back under 1.2500 on Wednesday as the dollar picks up pre-Fed speak/minutes and post-Tuesday’s weak UK PMIs.The BoE/Fed policy differential remains a headwind, as do UK politics and UK/EU NIP tensions. GBP/USD is back to trading below the 1.2500 level on Wednesday after failing to sustain a rally into the upper 1.2500sContinue reading “GBP/USD slides back below 1.2500 with Fed speak/minutes in focus.”