Gold (XAU/USD) remains bullish at $2,750.21, with support at $2,738.16. Resistance is at $2,754.01 and the 50-day EMA of $2,719.07 is strengthening the trend. A break below support could signal sharper declines.
Sterling awaits major speeches from the BOE at IMF meetings
Pound Sterling (GBP) remains steady as traders anticipate key speeches from MPC member Breeden and BOE Governor Bailey. Both talks are expected to provide insight into future monetary policy, which could see the pound experience increased volatility.
These speeches, together with ongoing IMF meetings, could provide crucial guidance for the pound’s near-term direction.
Investors will be looking for signals about interest rate adjustments or economic prospects, which could influence market sentiment and the movement of the British pound.
GBP/USD technical analysis
GBP/USD is trading at $1.29688, down 0.11%, and remains just below the pivot point of $1.29915. This level is crucial: if the pair breaks above, we could see a stronger bullish bias, with immediate resistance at $1.30154 and further levels at $1.30531 and $1.30770.