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GBP/USD holds the bounce above 1.3350 in the European session on Thursday. The pair's upside remains capped amid a modest US Dollar recovery. Traders turn cautious and refrain from placing fresh bets ahead of the BoE policy announcements and the US GDP release.
EUR/USD stays on the back foot around 1.1450 in the European session on Thursday as the better-than-expected German and Eurozone GDP data fails to support the Euro. The US Dollar recovers ground on renewed Mideast hostilities and the hawkish Fed message. Traders now brace for preliminary readings of the second-quarter GDP from the US.
Gold maintains its offered tone through the first half of the European session on Thursday and seems vulnerable to following an intraday rejection near the $4,100 mark. Following Wednesday's post-FOMC downfall to a one-week low, the US Dollar (USD) regains positive traction amid escalating US-Iran tensions, weighing on the bullion ahead of the US Q2 GDP release.
Ripple and Stellar are trading at critical technical levels on Thursday. XRP has stabilized above the psychological $1.00 support, while XLM is testing support at $0.173. Traders should be cautious as mixed derivatives metrics keep the outlook uncertain for both altcoins. Derivatives data shows mixed sentiment among traders. CoinGlass’ long-to-short ratio for XRP reads 1.02 on Thursday.
