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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 builds on its steady intraday recovery from an over one-week low and climbs closer to the $4,050 level in the European session on Wednesday. A modest US Dollar downtick supports the commodity, though the upside potential seems limited ahead of the FOMC policy announcements.
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.
