GBPUSD breaks lower
The Dollar continued its advance over the Pound as prices broke the 1.2900 level. A new low below 1.2850 suggests a bearish continuation after hitting a fresh peak at 1.3000 in July. Such a downbeat confirmation in market sentiment would attract more trend followers. As the RSI ventures into the oversold area again, 1.2780 is the closest support in case of a pullback.
XAUUSD bounces back
Gold bounced as Fed officials hinted at a September rate cut if inflation data keeps cooling. The price seems to have a solid foundation over the psychological level 2400. A decisive break above the recent swing high of 2440 has prompted more sellers to cover, which could pave the way for an extended recovery towards another record high. 2380 is a fresh support to keep the rebound momentum intact.
USOIL breaks key resistance
WTI crude rallied after jumping over $4 with Middle Eastern tensions growing. A close above the previous swing high of 77.00 could open the door to a broader recovery by forcing short sellers to cut their losses. The RSI’s move to the overbought area could cause a limited pullback, and the base momentum at 74.50 is the level at which to assess follow-up bids. The psychological level of 80.00 is the first resistance.
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