1. GBP/USD Analysis:

News Summary:

The surge in oil and gas prices triggered by the conflict in the Middle East is creating significant inflation risks for the United Kingdom. According to estimates from ING, if the recent increases in oil and gas prices are sustained, UK inflation could rise to more than twice the Bank of England’s 2% target. Earlier, crude oil prices surpassed $100 per barrel for the first time since 2022. As the Bank of England faces the prospect that UK inflation could rebound to as high as 5%, investors are increasingly betting that expectations for near-term interest rate cuts may be reversed.

Trend Analysis:

We can see GBP/USD has shown a modest rebound on the H4 chart and is trading above the 48 hours moving average. Meanwhile, both the MACD double line and histogram bars are shrinking near the zero axis. The sell limit could be set, stop loss is necessary.

Today's Key Price Levels:

Key Support Levels: [1.3350]

Key Resistance Levels: [1.3500]
Pivot Points [1.3380]

2. Gold Analysis:

News Summary:

In the early stage of the oil price surge, gold came under pressure amid the ongoing decline. However, the subsequent pullback in oil prices provided some renewed support for gold. In particular, when oil prices fell by more than $25 from $118, concerns about disruptions to crude supply eased slightly, allowing both the equity market and gold prices to recover part of their losses. This suggests that although fluctuations in oil prices can directly influence gold prices, the market’s risk-off sentiment has not completely faded amid the continuing geopolitical tensions in the Middle East.

Trend Analysis:

On the H4 chart, we can see gold is showing a sideways rebound and trading near the 48 hours moving average. In addition, the MACD double line and energy bars are contracting around the zero axis. The buy limit could be used, stop loss is mandatory.

Today's Key Price Levels:

Key Support Levels: [5120]

Key Resistance Levels: [5200]

Pivot Points [5140]