It’s simply the question of time before gold price gets to the higher levels…
How to trade GBP/USD?
Information is not investment advice
Last week GBP/USD has failed to stay above the 200-week MA (1.3065) for the second time. The pair has made a series of lower highs and is currently testing levels below the key psychological level of 1.30. The next important level on the downside is support at 1.2950 (the line connecting November and December lows). On the D1, the Awesome Oscillator topped and reached the 0 line. The fall below 1.2950 will open the way down to 1.2900. The key support will be located at 1.28 (the line connecting 2019 lows). On the upside, the return above 1.3020 is needed to allow a recovery to 1.3060.
USD/CAD is consolidating after breaking above the bearish “wedge”. The pair has bullish dynamics since the start of June.
XAU/USD rose to the highest levels since 2012. The advance has become stretched and the price may try to correct down.
The pair has broken down two strong supports. What’s next?
Investors want to trade riskier, and dire economic and virus background doesn't stop that. The USD will testify.
Risk-on pushed stocks and riskier currencies upward.