Daily Price Outlook

- GBP/USD faces selling pressure below $1.2835.

- RSI shows weak momentum; 50-SMA caps recovery.

- Breakdown below $1.2707 could open room toward $1.2559.

The British pound is attempting a short-term recovery against the U.S. dollar, but gains remain capped below the $1.2835 resistance. After plunging from the $1.3150 high, GBP/USD has been testing broken support levels as resistance, with the pair currently hovering near the trendline retest zone.

Despite the bounce from $1.2711 support, price action remains fragile as the 50-SMA near $1.2923 reinforces downside pressure.

The Relative Strength Index (RSI) sits at 45.5, showing a modest uptick in momentum, though still beneath the bullish threshold of 50.

This suggests a recovery is underway but lacks strong conviction. A sustained break below $1.2835 could trigger another leg lower toward $1.2707, with a deeper slide targeting $1.2638 and $1.2559.

From a risk-reward perspective, sellers may view this as a favorable zone to reenter, given the clear rejection at trendline resistance. On the upside, only a clean break above $1.2906 would negate the bearish structure and shift momentum toward $1.2983.

Traders watching macro catalysts, including U.S. CPI data this week, should remain cautious. Until then, short setups remain technically favorable below $1.2835, targeting a retest of recent lows near $1.2707, with a stop above $1.2906 to manage risk.

GBP/USD - Trade Ideas

Entry Price – Sell Below 1.28358

Take Profit – 1.27078

Stop Loss – 1.29068

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$1280/ -$710

Profit & Loss Per Mini Lot = +$128/ -$71

Daily Price Outlook

- Gold finds support at $2,990; bullish reversal in play.

- Resistance at $3,057 aligns with 50 EMA; breakout needed for upside momentum.

- RSI recovery supports short-term bounce, but bias stays cautious below $3,075.

Gold prices are showing early signs of recovery, trading around $3,023 after finding firm support near the $2,990 region. This level has now been tested multiple times, reinforcing its role as a key pivot.

Buyers have defended this support well, with prices rebounding toward $3,040. Still, the metal remains capped below the 50 EMA, which currently sits at $3,075—a zone that also aligns with horizontal resistance near $3,057.

If gold breaks above this resistance area, the next upside targets are $3,084 and $3,152. Meanwhile, on the downside, $2,990 remains critical. A sustained move below this would expose $2,953 and potentially $2,932 as next supports. The 50-period EMA at $3,075 continues to serve as a dynamic ceiling, suggesting any breakout needs to be confirmed by a close above this zone.

The Relative Strength Index (RSI) is currently at 48, slightly recovering from oversold conditions, and pointing higher—indicating that buyers may be regaining control in the short term. However, the broader trend remains vulnerable until the price decisively reclaims the $3,075 handle.

From a risk-reward standpoint, traders may consider a long position above $2,990, targeting a break toward $3,057, with a protective stop near $2,953. This setup aligns with trendline support and early bullish momentum.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2990

Take Profit – 3057

Stop Loss – 2953

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$6700/ -$3700

Profit & Loss Per Mini Lot = +$670/ -$370

Daily Price Outlook

- EUR/USD reclaims $1.1016, signaling renewed bullish strength.

- RSI near 62 points to momentum with more room to run.

- Break above $1.1147 could target $1.1220 in the short term.

EUR/USD is holding firm above the $1.1016 breakout zone, with bullish momentum picking up after a period of consolidation. The pair is trading around $1.1054, continuing its upward move after bouncing off trendline and 50-SMA support near $1.0906. This area remains a key inflection point for buyers, as it aligns with the broader ascending trendline visible since early March.

A clear break above $1.1016 has shifted near-term sentiment back in favor of the bulls. The next immediate resistance stands at $1.1147, which also aligns with last week's swing high. A break above that could open the door toward $1.1220 and eventually $1.1293 if upside momentum continues.

On the flip side, $1.1016 now serves as a short-term support level, with a protective cushion at $1.0938. Below that, $1.0906 marks the base of the current bullish structure.

The Relative Strength Index (RSI) is printing at 62, suggesting strong bullish momentum but not yet in overbought territory. This leaves room for the rally to continue, especially if the pair can sustain above $1.1016 through the upcoming sessions.

The setup remains constructive, favoring long positions above $1.1016 with a take-profit target near $1.1147 and a stop-loss placed at $1.0938. A break below $1.0938 would likely invalidate the current bullish bias and put pressure back on the $1.0906 zone.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.10169

Take Profit – 1.11476

Stop Loss – 1.09386

Risk to Reward – 1: 1.6

Profit & Loss Per Standard Lot = +$1307/ -$783

Profit & Loss Per Mini Lot = +$130/ -$78

Daily Price Outlook

- Price remains capped below the 50-period SMA and descending trendline.

- Support at $1.41024 is key for confirming further downside.

- Momentum favors bears unless $1.42204 is reclaimed with strength.

USD/CAD is trading at $1.41636, leaning bearish after failing to break above the $1.42204 resistance level. The pair continues to struggle under a descending trendline and the 50-period SMA at $1.42646, both of which cap upside momentum.

Price recently attempted a corrective move, but selling pressure resumed near $1.42200, suggesting bears remain in control. The setup shows potential for a deeper decline, particularly if price breaks and holds below $1.41600.

On the downside, key support is seen at $1.41024—just above the April low. A break beneath this level could open the door to $1.40308 and potentially $1.39619 in extension.

The RSI at 41.16 remains below the neutral 50 mark, indicating momentum is soft and still favors sellers. If price fails to reclaim $1.42204 and stays below the 50 SMA, a bearish continuation becomes increasingly likely.

Traders will want to see a sustained move under $1.41600 to confirm the breakout, ideally on increased volume and without immediate rejection. Until then, short-term price action remains vulnerable to minor retracements.

USD/CAD - Trade Ideas

Entry Price – Sell Below 1.42204

Take Profit – 1.41024

Stop Loss – 1.43052

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$1180/ -$848

Profit & Loss Per Mini Lot = +$118/ -$84

Daily Price Outlook

- Gold attempting to stabilize above $2,990 after a recent correction.

- Resistance at $3,034 is critical for further upside confirmation.

- A break below $2,990 could invite another retest of $2,953.

Gold is attempting a recovery, trading at $3,012.81 after finding short-term support just above the $2,990 level. The rebound follows a steep sell-off that pulled the metal from $3,152 highs into the $2,953–$2,989 range, where buyers stepped in.

Price has now reclaimed the $2,990 pivot, flipping near-term bias back toward a cautious bullish stance. With the $3,034 resistance now in focus, a sustained push through this level could invite fresh momentum toward $3,084 and potentially $3,152.

The RSI has edged up to 45.69, reflecting improved, but not yet strong, upside momentum. Price remains below the 50-period SMA at $3,071, suggesting the broader trend remains technically challenged. Traders should monitor whether gold can maintain intraday strength above $2,990. A break back below this key level would open downside exposure toward $2,953 and possibly $2,932.

Until price convincingly clears the $3,034–$3,071 resistance zone, upside should be treated with tactical caution. Momentum remains reactive to news flow, and traders may prefer confirmation via volume or breakout candles above $3,034 before adding new positions.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Buy Above 2990

Take Profit – 3034

Stop Loss – 2953

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$4400/ -$3700

Profit & Loss Per Mini Lot = +$440/ -$370

Daily Price Outlook

- Recovery hinges on holding $0.60376 and clearing $0.61068.

- RSI hints at early bullish divergence, but no breakout yet.

- EMA structure still favors sellers; caution on upside.

AUD/USD is currently trading at $0.60591, showing early signs of recovery after last week’s steep drop. The pair briefly tested support around $0.59300 before bouncing back above the $0.60376 level, which now serves as a critical short-term pivot.

The bounce coincides with mild bullish divergence on the RSI (currently at 42.27), suggesting a tentative return in buyer interest. However, the broader structure remains fragile. The 50 EMA at $0.62230 continues to slope downward, capping any strong bullish momentum.

From a Fibonacci perspective, the pair is struggling near the 23.6% retracement at $0.60388. A break above $0.61068—the 38.2% retracement—would bolster bullish sentiment and expose higher resistance at $0.61598 and $0.62138.

On the downside, immediate support rests at $0.59821, followed by $0.59307. A breach below those levels could send AUD/USD to test deeper lows near $0.58792.

Traders will want to see a sustained move above $0.61068 to confirm follow-through buying. Until then, any upside moves should be viewed cautiously and within the context of a broader bearish trend.

The RSI still hovers below the midline, while the EMA structure favors bears, leaving the recovery in question unless momentum improves decisively above $0.61385.

The risk-reward favors short-term longs above $0.60376, but upside targets should remain conservative unless we see a daily close above $0.61598.

AUD/USD - Trade Ideas

Entry Price – Buy Above 0.60376

Take Profit – 0.61385

Stop Loss – 0.59821

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$1009/ -$555

Profit & Loss Per Mini Lot = +$100/ -$55

Daily Price Outlook

- EUR/USD holds trendline support above $1.09519

- Break above $1.10484 may confirm bullish continuation

- RSI and EMA support ongoing upside momentum

The EUR/USD is attempting to reclaim upside momentum against the U.S. dollar following a healthy pullback from $1.10484. Price action remains supported by a firm uptrend structure, with a rising trendline dating back to mid-March and the 50 EMA at $1.08619 now acting as dynamic support.

After rebounding off the $1.09519 level—a key horizontal and psychological zone—EUR/USD is showing renewed buying interest as it tests the pivot area near $1.1000. The recovery has paused just shy of immediate resistance at $1.10484, and a clean breakout above this zone would clear the path toward $1.11480 and $1.12208.

RSI is currently at 59.40 and turning higher, suggesting building momentum without being overbought. The pair remains technically constructive as long as price stays above the 50 EMA and ascending trendline. A break below $1.09519 would invalidate the immediate bullish bias, exposing downside risk toward $1.08617 and $1.07512.

Overall, the recent dip appears corrective, and the bullish trend remains intact unless key support levels fail. If bulls manage to secure a decisive close above $1.10484, continuation toward $1.11511 becomes increasingly probable, with higher resistance zones within reach.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.09504

Take Profit – 1.11511

Stop Loss – 1.08632

Risk to Reward – 1: 2.3

Profit & Loss Per Standard Lot = +$2007/ -$872

Profit & Loss Per Mini Lot = +$200/ -$87

Daily Price Outlook

- Gold rejected at broken trendline near $3,046

- 50 EMA acting as firm resistance at $3,101

- Bearish momentum may resume below $3,013

Gold prices are under pressure following a decisive breakdown below both the ascending trendline and the $3,046 horizontal support, which previously acted as a pivot area for bulls. After slipping as low as $3,003, buyers briefly stepped in near the 200-period EMA, but the rebound lacked conviction.

Price is currently pinned under the $3,046 resistance zone and struggling to reclaim ground above $3,062. This resistance band, once supportive, now acts as a ceiling for any meaningful recovery. The technical landscape has turned bearish unless gold reclaims and closes above the $3,062 level.

The broader market structure also reflects caution, as the 50 EMA at $3,101.72 is now sloping downward, providing additional headwind. Meanwhile, the RSI sits at 39.81, suggesting bearish momentum is in play but not yet stretched enough to imply oversold conditions.

A break below the $3,013 handle would signal renewed selling pressure, opening the path toward the psychological support at $3,000 and possibly extending to $2,970, the next major horizontal demand zone.

Bulls would need to regain control above $3,062 to neutralize the bearish bias and make a case for a push toward the 50 EMA and $3,087. Until that happens, any upside moves are likely to be viewed as relief rallies rather than the start of a sustained uptrend.

GOLD (XAU/USD) - Trade Ideas

Entry Price – Sell Below 3046

Take Profit – 3013

Stop Loss – 3062

Risk to Reward – 1: 1.3

Profit & Loss Per Standard Lot = +$3300/ -$1600

Profit & Loss Per Mini Lot = +$330/ -$160

Daily Price Outlook

- Bearish bias below $1.2955, with the 50 SMA and Fibonacci resistance reinforcing downside pressure.

- Support at $1.2821 is critical—a break below could accelerate the move toward $1.2769 and $1.2720.

- RSI at 38.71 signals increasing bearish momentum, with rallies likely to face resistance unless $1.2955 is reclaimed.

After an aggressive sell-off from $1.3206, the British pound (GBP/USD) has entered a corrective phase, but gains remain capped below the $1.2955 resistance level. The pair is trading just under the 50-period SMA at $1.2957, which coincides with the 38.2% Fibonacci retracement—now acting as resistance.

Price failed to sustain above the key pivot at $1.2913 and is hovering near a critical support zone. If this level breaks, it may open the door toward $1.2821, where the ascending trendline converges with horizontal support.

Downside pressure is reinforced by a sharply falling RSI, currently at 38.71, suggesting bearish momentum still has room to run. The 50 SMA has flattened, pointing to market indecision in the near term. A deeper pullback could extend toward $1.2769 or even $1.2720 if $1.2821 fails to hold.

That said, upside risks remain if GBP/USD can clear $1.2955 decisively. A sustained move higher could see the pair test $1.3014 and $1.3060—levels aligning with the 50% and 61.8% retracements of the recent drop.

However, without a clean break above the 50 SMA and Fibonacci cluster, rallies are likely to face selling pressure. Bias favors the downside as long as price stays below $1.2955. Break below $1.2821 opens room for deeper retracement toward $1.2720.

GBP/USD - Trade Ideas

Entry Price – Sell Below 1.29548

Take Profit – 1.28216

Stop Loss – 1.30258

Risk to Reward – 1: 1.8

Profit & Loss Per Standard Lot = +$1332/ -$710

Profit & Loss Per Mini Lot = +$133/ -$71

Daily Price Outlook

- EUR/USD holds firm above $1.1013, maintaining bullish structure

- RSI above 70 signals strong buying, though overbought

- Price target remains $1.1220, with support at $1.0893

The EUR/USD pair is advancing firmly, trading around $1.1062 after clearing the key psychological resistance at $1.1013. This breakout has reinforced bullish momentum, aided by a strong RSI reading of 72.24, which reflects overbought conditions but also sustained demand.

The pair is comfortably positioned above the 50-day SMA at $1.0626, with price action trending well within an ascending channel.

Immediate resistance is seen at $1.1147, with bulls eyeing extended targets at $1.1220 and $1.1286. On the downside, a break below $1.1013 would shift focus to $1.0943 and $1.0893, while $1.0783 serves as a deeper support level. Despite overbought RSI, the bullish structure remains intact unless $1.1013 is breached to the downside.

As long as EUR/USD holds above its pivot, momentum favors continued upside—particularly if macro data supports the euro or weakens the dollar.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.10127

Take Profit – 1.12214

Stop Loss – 1.08934

Risk to Reward – 1: 1.7

Profit & Loss Per Standard Lot = +$2087/ -$1193

Profit & Loss Per Mini Lot = +$208/ -$119