Introduction:

Welcome to our daily technical analysis of the financial markets, focusing today on GBP/USD and Gold. Let's dissect the latest news, market trends, and crucial price levels to watch out for.

1. GBP/USD Analysis:

News Summary:

The Bank of England kept its interest rate unchanged at 3.75%. UK policymakers are attempting to balance the renewed risk of escalating tensions between the US and Iran with signs that domestic price pressures are easing faster than expected. Minutes from Thursday’s meeting showed that the Monetary Policy Committee voted by a 6–3 majority to maintain the current rate. The Chief Economist and external members argued in favor of a 25-basis-point rate hike. The Bank of England Governor warned against assuming that the central bank is gradually moving toward another rate increase.

Trend Analysis:

On the H4 chart, we can see GBP/USD posted a strong rally and is trading above the 48 hours moving average. In addition, the MACD double line and energy bars are contracting above the zero axis. The sell limit could be placed, stop loss is necessary.

Today's Key Price Levels:

Key Support Levels: [1.3370]

Key Resistance Levels: [1.3540]
Pivot Points [1.3500]

2. Gold Analysis:

News Summary:

According to a report released by the World Gold Council, global central banks and other official institutions collectively increased their gold reserves by a net 289 tonnes in the second quarter, representing a 62% year-over-year increase. Gold purchases by central banks in several countries have rebounded. However, due to weaker demand in the first quarter, global central bank gold buying in the first half of the year remained slightly below the elevated levels seen in recent years. The survey showed that 45% of central banks expect to increase their own gold reserves over the next 12 months, highlighting gold’s long-term importance as a stable component of official reserves.

Trend Analysis:

We can see Gold encountered resistance and pulled back on the H4 chart, trading near the 48 hours moving average. Meanwhile, the MACD double line and histogram bars are expanding above the zero axis. The buy limit could be set, stop loss is mandatory.

Today's Key Price Levels:

Key Support Levels: [4020]

Key Resistance Levels: [4170]

Pivot Points [4040]