GBPUSD hits another peak
Cable continues its dominance in the market as price action lifts to another fresh high. The multi-year high at the mid-1.34 level has seen sentiment favour the pound for the major of 2025. However, bears could see the recent short-term consolidation as an opportunity to join in on the action. A break below 1.3330 could convince more conservative traders to jump in, and the downside would then be 1.3250 at the previous bounce, which is a firm support level.
XAUUSD remains flat
Gold holds in a stiff consolidation as traders await the next signal regarding the ongoing trade war. A dramatic sell-off last week saw a dive of over $200 as the price held the 3300 level. A successive break above 3400 could see bulls re-enter the uptrend. 3330 is the first hurdle should the price bounce back. Otherwise, 3275 is the first support for the yellow metal.
USOIL (WTI crude) corrects again
USOIL (WTI crude) also saw a fall in prices due to the recent tensions that have fluctuated the market. With oil nearing a multi-week high, traders were estimating a push to $70 in the foreseeable future. Bulls struggled to hold the 64.00 level as the upward momentum died down. The price might be vulnerable to a broader sell-off after it broke below 60.00. 56.50 would be a key support, and 61.40 is the closest resistance ahead.
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