The markets are currently focused on Jerome Powell’s speech and upcoming US inflation data (PPI and CPI). A hawkish stance from Powell and weaker inflation data could strengthen the US dollar against EUR, GBP, and JPY. The Australian dollar (AUD) is also waiting on wage growth data. Gold prices could rise if they consolidate above 2,330, while Bitcoin is facing downward pressure in the near-term.

British Pound (GBP):

• Forecast: Neutral to bearish in the short-term, with downside potential dependent on Jerome Powell’s comments and US inflation data.
• Resistance: 1.2602
• Support: 1.2526
• Key factors: Powell’s speech, US inflation data (PPI and CPI), BoE rate cut expectations

Japanese Yen (JPY):

• Forecast: Bullish in the short-term, with upside potential dependent on Jerome Powell’s comments and US inflation data.
• Resistance: 156.94
• Support: 155.89
• Key factors: Powell’s speech, US inflation data (PPI and CPI)

Australian Dollar (AUD):

• Forecast: Neutral to bearish in the short-term, with downside potential dependent on Australian wage growth data.
• Resistance: 0.6645
• Support: 0.6559
• Key factors: Australian wage growth data

Gold (XAU):

• Forecast: Bullish in the short-term, with potential upside if it consolidates above 2,330.
• Resistance: 2,375, 2,392
• Support: 2,312, 2,301
• Key factors: Consolidation above 2,330

Bitcoin (BTC):

• Forecast: Bearish in the short-term, with potential downside if it consolidates below 61,500.
• Resistance: 62,500, 68,750
• Support: 60,000, 59,375, 56,250
• Key factors: Consolidation above or below key levels