1. GBP/USD Analysis:
News Summary:
UK Chancellor Rachel Reeves has vowed to curb inflation and ease the cost-of-living burden through a series of measures in the upcoming budget, aiming to create room for further interest-rate cuts by the Bank of England. Reeves stated that she is determined to keep borrowing under control and will introduce policies in the budget to reduce household bills, thereby providing policy space for additional rate cuts in the coming months. The budget will include targeted price measures, as the government seeks both to lower household living costs and to see interest rates decline further.
Trend Analysis:
We can see GBP/USD has pulled back in choppy trading on the H4 chart, remaining below the 48 hours moving average. Meanwhile, the MACD double line and histogram bars are converging near the zero axis. The buy limit could be set, stop loss is necessary.
Today's Key Price Levels:
Key Support Levels: [1.3300]
Key Resistance Levels: [1.3470]
Pivot Points [1.3330]
2. Gold Analysis:
News Summary:
During the U.S. session on Tuesday, gold suffered its sharpest single day drop in five years, following several weeks of rapid gains that had pushed technical indicators to extreme levels. After setting a new all-time high above $4,380 on Monday, spot gold plunged 6% intraday, briefly falling below $4,100 and losing over $250 in a single day. The previous surge had driven gold’s momentum and relative strength indicators deep into overbought territory, while a stronger U.S. dollar made precious metals more expensive for most buyers.
Trend Analysis:
On the H4 chart, we can see gold has retreated sharply from its highs, falling below the 48 hours moving average. However, the MACD double line and energy bars are beginning to converge below the zero axis. The buy limit could be placed, stop loss is mandatory.
Today's Key Price Levels:
Key Support Levels: [4090]
Key Resistance Levels: [4170]
Pivot Points [4110]
