GBPUSD(pound) hitting support
The GBPUSD(pound) found a bounce as price action looks to gain a foothold after a recent surge in the dollar.
- A new low below 1.3450 suggested a bearish continuation after the recent rally.
- The upbeat market sentiment could attract more trend followers.
- The psychological level of 1.3500 is next, where more buyers could enter the market.
- As the RSI ventures away from the overbought area, 1.3360 is the closest support as a slight bearish divergence emerges.
XAUUSD bounces back
Gold looks to test the recent high at 4100 as the metal looks towards another fresh high.
- Prices seem to have found a solid foundation at 4060, from where the bulls hope the precious metal is hitting support.
- 4020 at the recent low is a critical support to keep the rebound momentum intact.
- On the upside, a break at the previous top could pave the way to a break at 4140, and then another rally towards a fresh high.
USOIL crashes lower
Peace talks intensified as oil traders look for the possibilities of a ceasefire in the Middle East.
- A close below 75.50 could open the door to a broader sell-off in the medium-term by forcing buyers to cut their losses.
- A bullish divergence could alleviate the pressure if there is a turnaround.
- The round number of 80.00 would be the first target in that case.
- 73.00 is the level to assess if the sell-off will continue.
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