The US dollar may see some support from Fed policymakers pushing back on rate cut bets. EUR/USD and GBP/USD may see some correction or consolidation depending on economic data. USD/JPY might experience a correction after recent weakness. Gold is likely to continue its upward trajectory unless it breaks below key support levels. Keep an eye on economic data releases and central bank commentary for significant market movements.

British Pound (GBP/USD):

• Trend: Bullish with potential for a pullback
• Support: 1.2878, 1.2824, 1.2801
• Resistance: 1.2981, 1.2991
• Forecast: The GBP/USD may experience a gradual decline towards 1.2913. A break below the trend line could signal a stronger downtrend. Look for sell signals around the resistance zone with confirmation.
• Alternative Scenario: If the UK inflation report shows a drop, the pound may fall further.
• Economic Data: UK inflation report (crucial, could impact GBP movement).

Japanese Yen (USD/JPY):

• Trend: Bearish with a potential for a correction
• Support: 157.88, 157.32
• Resistance: 158.57, 159.13
• Forecast: The USD/JPY may see a corrective move upwards before resuming its downtrend. The Bank of Japan may intervene again to weaken the USD. Look for buy signals around the support zone with confirmation.
• Alternative Scenario: The downtrend resumes if the price breaks above 161.78 and consolidates.
• Market Commentary: The Bank of Japan may intervene again to weaken the USD and support the Yen.

Gold (XAU/USD):

• Trend: Bullish
• Support: 2450, 2432, 2400
• Resistance: 2475, 2500
• Forecast: Gold is likely to continue its upward trajectory. A break below $2450 could indicate a potential pullback.
• Economic Data: Light economic data this week, focus on Fed speakers.