GBPUSD Analysis
GBP/USD Range-Bound Between 1.2933 and 1.3425
GBP/USD trades sideways near mid-range. RSI at 50 signals indecision; watch 1.3240 support and 1.3425 resistance for breakout clues.
GBP/USD has been consolidating within a wide horizontal range between 1.2933 and 1.3425. Despite previous bullish momentum that pushed the pair above the Ichimoku cloud in mid-April, price action has since turned sideways. Multiple failed attempts to break the 1.3400–1.3425 resistance zone confirm ongoing indecision. The current price trades near the midpoint of the range, while RSI hovers around 50, indicating a lack of clear short-term direction. A breakdown below 1.3240 could lead to a deeper move toward 1.2933. Alternatively, a breakout above 1.3425 would shift momentum in favor of the bulls.
EURUSD Analysis
EUR/USD Tests 1.1264 – Bearish Bias Persists Below 1.1320
EUR/USD trades below Ichimoku cloud and nears 1.1264 support. RSI at 35.65 hints at limited downside, but 1.1146–1.0948 may follow if broken.
EUR/USD remains under pressure after failing to sustain above 1.1320, and it now approaches the key horizontal support at 1.1264. The pair broke below the Ichimoku cloud earlier in May, confirming short-term bearish control. RSI stands at 35.65, near oversold territory, which may limit further downside in the short term. However, a break below 1.1264 opens the door toward the next support levels at 1.1146 and 1.0948. On the upside, a reclaim of 1.1325 would be the first technical sign of recovery, but until that happens, bearish conditions are likely to persist.
XAGUSD (Silver) Analysis
Silver Tests $33.52 Resistance – Breakout or Pullback Ahead?
Silver challenges $33.10–$33.52 supply zone after rebounding from $32.08. RSI at 55 turns bullish, but failure may lead to $29.70.
Silver is currently testing resistance within the $33.10–$33.52 range after a strong rebound from the $32.08 support zone. The shaded red zone above marks a major supply region, historically associated with selling pressure. Momentum indicators are turning bullish again, with RSI rising toward 55, suggesting a potential attempt to break through the resistance. However, unless a confirmed breakout above $33.52 occurs, silver remains in a range-bound and choppy structure. If the resistance holds, price may retreat back toward $32.08 or even extend lower to $29.70.
XAUUSD (Gold) Analysis
Gold Falls Below Cloud – $3,257 Support Under Pressure
Gold rejected from $3,379 and slips below cloud. RSI at 40.43 signals bearish momentum. Watch $3,257—break could lead to $3,087 or $3,058.
Gold is experiencing renewed selling pressure after being rejected from the $3,379 resistance level. The price has dropped back below the Ichimoku cloud and is now testing key support around $3,257. Downside targets lie at $3,087 and $3,058 if this level fails to hold. RSI is falling and currently sits at 40.43, approaching bearish territory. The inability to hold above $3,331 reinforces short-term bearish momentum. A confirmed breakdown below $3,257 may accelerate losses, while any recovery requires a strong move back above $3,331 to invalidate the bearish setup.
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