GBP/USD holds in mid-1.2500s despite PM Johnson’s looming confidence vote, eyes.

GBP/USD rebounded from a key area of support in the upper 1.2400s to the mid 1.2500s on Monday.Sterling is outperforming despite UK PM Johnson’s looming no-confidence vote that could unseat his premiership. The week will otherwise be quiet until Friday’s US CPI data release.Despite UK PM Boris Johnson’s looming confidence vote later on Monday eveningContinue reading “GBP/USD holds in mid-1.2500s despite PM Johnson’s looming confidence vote, eyes.”

EUR/USD Price Analysis: Sellers need validation from 13-day-old support around 1.0700.

EUR/USD extends previous day’s pullback from one-month high. Clear break of 50-day EMA, RSI retreat favor sellers.38.2% Fibonacci retracement holds the key to further advances. EUR/USD remains pressured around the intraday low, stretching Tuesday’s pullback from the monthly peak during Wednesday’s Asian session. That said, the major currency pair seesaws around 1.0730-25 by the pressContinue reading “EUR/USD Price Analysis: Sellers need validation from 13-day-old support around 1.0700.”

GBP/USD Forecast: Near-term technicals turn bullish.

 GBP/USD has gained traction following Tuesday’s choppy action.The pair could extend its recovery in case 1.2400 turns into support.Markets remain cautiously optimistic ahead of US inflation data. GBP/USD has gathered recovery momentum early Wednesday after having tested 1.2300 on Tuesday. The technical picture in the short term points to a bullish tilt but the dollar’sContinue reading “GBP/USD Forecast: Near-term technicals turn bullish.”

Gold Price Forecast: XAUUSD bears must beware of the buy-everything-rally – TDS.

Gold is in wait-and-see mode ahead of the Federal Reserve policy announcement. Strategists at TD Securities expect the yellow metal to rise if the Fed delivers the expected 50 bps rate hike before resuming its downmove. Highly-anticipated FOMC day could translate into a whipsaw for many gold bears.“It’s FOMC day, and sentiment across global marketsContinue reading “Gold Price Forecast: XAUUSD bears must beware of the buy-everything-rally – TDS.”