US Dollar's Bullish Bias Holds Steady Setups On EUR/USD, GBP/USD, Gold Prices

(MENAFN- DailyFX) ullish Bias Holds Steady; Setups on EUR/USD, GBP/USD, Gold Prices Skip to Conten News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here , or by following the link at the bottom of any page on our site. See our updated Privacy Policy here .

Change in Longs Shorts OI
Daily -7% -3% -5%
Weekly -16% 6% -5%
What does it mean for price action? Get My Guide GBP/USD TECHNICAL ANALYSIS

GBP/USD consolidated to the upside on Thursday, but fell short of clearing its 50-day simple moving average at 1.2680. Bulls may find it challenging to surpass this technical hurdle; however, a breakout could result in a move toward trendline resistance at 1.2725.

Conversely, if sellers stage a comeback and trigger a market reversal , the first line of defense against a bearish attack lies around the 1.2600 mark. Additional losses beyond this point may create the right conditions for a slide toward trendline support and the 200-day simple moving average at 1.2560.


GBP/USD Chart Created Using TradingView

Wondering how retail positioning can shape gold prices in the near term? Our sentiment guide provides the answers you are looking for-don't miss out, get the guide now!

Gold Mixed Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 3% -7% -1%
Weekly -13% 8% -6%
What does it mean for price action? Get My Guide GOLD PRICE TECHNICAL ANALYSIS

Gold rose modestly on Thursday but hit a roadblock around $2,030, a key resistance zone where a downtrend line aligns with the 50-day simple moving average. Sellers need to defend this area vigorously to prevent bulls from reasserting dominance; failure to do so could result in a rally toward $2,065.

On the other hand, if sentiment reverses in favor of sellers and prices begin to retreat, support can be identified at $2,005, positioned near the 100-day simple moving average. Further downside pressure may then bring $1,990 into focus, followed by $1,995.


Gold Price Chart Created Using TradingView


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.