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Sellers broke 1.1800, 1.1750 and tested 1.1700 on Tuesday. They, however, failed to stay around 1.1700 and pulled back to 1.1750. The pair continued its undertone on Wednesday. Fresh selling pressure emerged in the morning and sent the price to 1.1700. The resistance resides at 1.1750, the support comes in at 1.1700.

We favor a near-term bearish bias. A break below 1.1700 shall open the door for a move towards 1.1600.



Sellers lost momentum on Wednesday. They retreated after breaking 1.3000 giving the way to buyers. Buyers pushed the spot higher and retested 1.3000 in the mid-European session. The resistance lies at 1.31000, the support comes in at 1.3000.

We believe the pound will remain well offered in the coming days. A sharp breakout below 1.3000 could spark a further decline towards 1.2900-1.2850.



The US dollar remained under pressure vs. its Japanese peer. The major continued its advance south in the morning after a brief pause during the night trades. Sellers pushed away from 110.00 and headed towards 109.50. The resistance lies at 110.00, the support comes in at 109.00.

According to Price Action the US dollar will remain under pressure. Thus, the spot may test the 109.00 handle in the coming sessions.



Gold prices extended their recovery on Wednesday. XAU/USD pushed away from 1260 and rallied towards 1270 dollars per ounce. The resistance exists at 1270, the support stands at 1260 dollars per ounce.

Once we break above the 1265 mark, we think that the 1270 level will be next.



Brent oil prices are still locked between 52.50 and 51.50 on Wednesday. The resistance lies at 52.50, the support lies in at 51.50 dollars per barrel.

Buyers’ inability to regain 52.50 points to sellers' growing strength. If bears regain control the benchmark may decline to 50.50 dollars per barrel.

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