Technical Analysis Of The FTSE 100 As It Is Seen Heading Towards The 11,000 Mark While GBP/USD Rallies And The Recent Gold Price Advance Stalls.

(MENAFN- DailyFX (IG)) ​GBP/USD rallies towards six-week high

GBP/USD has resumed its advance towards its six weeks high at $1.3503. Together with the early August high at $1.3506 and the 25 May peak at $1.3509 it may act as resistance once more. If overcome, the mid-July high at $1.3558 may be reached next.

​Minor support may be spotted along the 200-day simple moving average (SMA) at $1.3416 and at the 21 September high at $1.3400.

​Short-term outlook: bullish while above the 6 November low at $1.3343

​Medium-term outlook: bullish, targeting the $1.3676 August peak while the $1.3273 late October low underpins

​Source: TradingView ​Gold trades in two-week highs

​Spot gold's climb close to the $4,150.00 per troy ounce level is giving way to a minor slide with the early-to-mid-October lows at $4,073.54-to-$4,066.53 potentially being revisited. While the next lower 6 November low at $4,029.83 underpins, though, upside pressure should retain the upper hand.

​A rise above this week's $4,148.71 high may engage the October highs at $4,199.08-to-$4,227.53.

​Short-term outlook: bullish while above the 6 November low at $4,029.83

​Medium-term outlook: bullish while above the 30 October low at $3,870.32

​Source: TradingView Important to know

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