The Euro is hovering near resistance despite weak German data. A strong performance in US data could push it lower, but support levels exist. The Pound is also facing headwinds due to expectations of a BoE rate cut. US data will be a key factor, with strong numbers potentially weakening GBP/USD further. The Yen has been on a tear, driven by BoJ policy normalization rumors and weak US data. Whether this trend continues depends on the BoJ meeting next week. Gold prices have declined due to technical selling and strong US data, but the bull run may not be over. Central bank demand, Indian demand, and geopolitical factors could provide support.

GBP/USD:

• Overall Trend: Bearish
• Key Levels:
  • Support: 1.2850, 1.2680, 1.2620
  • Resistance: 1.2950, 1.3000, 1.3040
• Forecast: Bearish. A break below 1.2850 could lead to further declines towards 1.2620.
• Key factors to watch: US economic data, BoE rate cut decision, and risk sentiment. Strong US data or a BoE rate cut could weaken the Pound, while increased risk aversion could strengthen it.

USD/JPY:

• Overall Trend: Bearish
• Key Levels:
  • Support: 151.45, 150.80, 149.65
  • Resistance: 153.36, 155.84, 156.86
• Forecast: Strongly bearish. A break below 151.45 could lead to further declines towards 150.80. The BoJ meeting next week is a key event to watch, with a potential rate hike or reduction in bond purchases strengthening the Yen further.
• Key factors to watch: BoJ meeting outcome, risk sentiment.

XAU/USD (Gold):

• Overall Trend: Bearish
• Key Levels:
  • Support: 2360, 2350, 2322
  • Resistance: 2370, 2400, 2432
• Forecast: Neutral to slightly bearish. A break below $2360/oz could lead to further declines, while a break above $2390/oz could signal a short-term recovery.
• Key factors to watch: US economic data, real yields, geopolitical tensions. Strong US data or rising real yields could weaken Gold, while increased geopolitical tensions could strengthen it.

Key factors impacting the market:

• US GDP: Strong US economic growth is putting pressure on the Euro and Gold, while supporting the US Dollar.
• Central bank policy: Speculation about rate cuts from the Bank of England and potential tightening from the Bank of Japan is influencing currency valuations.