(XAUUSD) Bullion hits another peak

(XAUUSD) Bullion remains bullish as price action looks towards another fresh high. On the chart, the price is progressing after confirming a close above 5100, with 5200 the next target for bulls. After the weekly noise has calmed, 5140 is the closest support, and a hold here can avoid a drop in yellow metal to the recent bearish spike below 5100.

EURUSD stuck sideways

The euro hit another roadblock as prices search for the next direction. Price action has so far consolidated its gains above 1.1750, making it a major level to keep the single currency ahead. A hold above it would confirm that the uptrend is still intact, with the former support and psychological level of 1.2000 as the next target. A breach of 1.1750 could send the pair to test the critical floor at 1.1700.

GBPUSD looking for direction

The pound, like the euro, awaits the next signal to break out of its recent consolidation zone. A second attempt at the monthly low at 1.3430 is the final support before a deep correction takes place. On the flip side, a break above 1.3600 would suggest that another rally could emerge. Whether this will be an extension or a reversal will depend on the intensity of buyers’ expectations, with 1.3850 as a firm resistance target.

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