Spot Gold - Gold continues to look weak
Gold continues to look weak and we are watching the near-term resistance level up near 1105.00 as a potential sell-level if price rotates up to it and a 1 hour, 4 hour or daily chart price action sell signal forms near that level. If price rallies higher and manages to move significantly above 1105.00, we will wait and look to be sellers from up near the key resistance level around 1150.00.
GBPUSD - Sterling/dollar remains buoyant
We remain bullish biased on the GBPUSD and we will consider a long entry if price rotates down to 1.5500 - 1.5525 near-term support and forms a price action buy signal on the 1 hour, 4 hour or daily chart time frame. This is in-line with the weekly chart uptrend in this pair.
Post by Nial Fuller, founder of LearnToTradeTheMarket.com
Gold continues to look weak and we are watching the near-term resistance level up near 1105.00 as a potential sell-level if price rotates up to it and a 1 hour, 4 hour or daily chart price action sell signal forms near that level. If price rallies higher and manages to move significantly above 1105.00, we will wait and look to be sellers from up near the key resistance level around 1150.00.
GBPUSD - Sterling/dollar remains buoyant
We remain bullish biased on the GBPUSD and we will consider a long entry if price rotates down to 1.5500 - 1.5525 near-term support and forms a price action buy signal on the 1 hour, 4 hour or daily chart time frame. This is in-line with the weekly chart uptrend in this pair.
Post by Nial Fuller, founder of LearnToTradeTheMarket.com
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