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FXStreet
Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.
GBP/USD defends minor bids around 1.3300 in the European trading hours on Wednesday. The pair stays supported as the US Dollar struggles ahead of the Federal Reserve’s upcoming policy decision. However, the upside appears capped by renewed escalation in the Middle East and surging Oil prices.
EUR/USD oscillates in a narrow range below 1.1400 on Wednesday. The pair struggles to gain traction as the US Dollar benefits from the risk-averse market atmosphere amid a deepening crisis in the Middle East. Investors keenly await the Federal Reserve’s upcoming policy decision for fresh directional impetus.
Gold stays on the back foot midweek and declines toward $4,000 after losing more than 1% on Tuesday. Escalating tensions in the Middle East make it difficult for the precious metal to hold its ground, while investors gear for the Federal Reserve's highly-anticipated interest rate announcement.
Bitcoin, Ethereum and Ripple remain under pressure on Wednesday after a mild correction earlier this week. BTC slips below a key support zone, and ETH is testing a key resistance zone. Meanwhile, XRP is drifting toward the psychologically important $1.00 support level.
