GBPUSD breaks resistance
The pound advanced as the BoE hinted that rate cuts were coming. A new high above 1.2840 suggests a bullish continuation after the recent rally. A continuous upbeat market sentiment could attract more trend followers. The supply zone at the psychological level of 1.3000 is next, where resistance could be met. As the RSI ventures into the overbought area, 1.2820 is the closest support as a bearish divergence emerges.
XAUUSD bounces back
Gold looks to test the recent high after a firm rejection at 2390 saw price action recovering. Prices seem to have found a solid foundation above 2350 from where the bulls hope the precious metal is hitting support. The Gold Recovery appears to be gaining traction as 2360 becomes a fresh support level to keep the rebound momentum intact. On the upside, a break at the previous top could pave the way to a break above 2400 and another rally towards the record high at 2450.
USOIL takes a breather
WTI looks to shake off the recent sell-off after dipping below 81.00. A close above the previous swing high of 84.00 could open the door to a broader recovery in the medium term by forcing sellers to cut their losses. A bullish divergence could alleviate the pressure, with 84.80 as the next target. The RSI’s move into the neutral area could cause a limited fallback, and the base momentum at 80.90 is the level at which to assess follow-up bids.
