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27 Dec, 2024
5 minutes

Daily Technical Analysis:GBP/USD、 Gold

Welcome to our daily technical analysis of the financial markets, focusing today on GBP/USD and Gold. Let's dissect the latest news, market trends, and crucial price levels to watch out for.

1. GBP/USD Analysis:
News Summary:
Although sterling will record losses against the US dollar in 2024, the pound is performing strongly compared to other major currencies. Factors supporting the pound include the Bank of England cutting interest rates at a slower pace than the Federal Reserve and market expectations that this trend will continue in 2025. However, investors believe that Trump's re-election as US president and the new budget of the British Labor government may change the economic prospects of the two countries and have an impact on the monetary policy directions of the two central banks in 2025 and the trend of the pound against the dollar.

Trend Analysis:
The GBP/USD fluctuated at a low level and ran below the 48 hours moving average on H4 chart. In addition, the MACD double line and energy column shrink below the zero axis. The sell limit could be used, stop loss is necessary.

Today's Key Price Levels:
Key Support Levels: [1.2440]
Key Resistance Levels: [1.2600]
Pivot Points [1.2570]

 

2. Gold Analysis:

News Summary:
Gold prices edged higher during the Christmas holidays. The market is waiting for more signals about the Federal Reserve's interest rate plan in 2025, while paying attention to the economic policies that the new Trump administration may introduce. In the medium to long term, gold may be supported by geopolitical risks in the first half of 2025, while profit-taking may occur in the second half of the year as economic conditions change. Normally, tighter monetary policy would support the dollar and U.S. Treasury yields, reducing gold's appeal.

Trend Analysis:
The gold H4 level encountered resistance and fell back, but it was still running above the 48 hours moving average. On the other hand, the MACD double line and energy bar gradually converge above the zero axis. The sell limit could be placed, stop loss is mandatory.

Today's Key Price Levels:
Key Support Levels: [2600]
Key Resistance Levels: [2658]
Pivot Points [2647]

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