fbpx

Register for MT4 Demo Account

Register for xStation Account

GBP/USD Falters Below 1.2500 Pre-BoE; Gold Holds Below $2,320. Dow Up 0.1%, S&P 500 Gains 0.1%, NASDAQ Dips 0.1% at 16:00 ET.

By Research Team Wednesday, May 8, 2024
GBP/USD

    • 11.30amD1
    • High1.2571
    • Low1.2501
    • Close1.2508

GBP/USD is trading at 1.2480, 0.43% down since previous day close. Goldman Sachs cite the less dovish US backdrop: “With hawkish policy repricing driving markets recently, the pro-cyclical backdrop for GBP is less supportive than it was earlier in the year” This financial giant cut its forecast for GBP/USD another side US dollar show strong that lead other currencies to closed in red. On daily chart basis this pair currently trading below its support zone the next support is 1.2466 if this will break may continue bearish movement in coming trading session.

Read More… Read Less

Daily Outlook

GBP/USD

Intra Day
Near Day

Technical Levels

R3 1.2638
R2 1.2597
R1 1.2561
Turnaround 1.25
S1 1.2497
S2 1.2466
S3 1.2419
By Research Team Wednesday, May 8, 2024
US30

    • 11.35amD1
    • High38949
    • Low38831
    • Close38867

US30 is trading at 38,910, 0.07% up since previous day close. After weakness on it continues rally with nearly 1% gain on Tuesday. US benchmark equity indexes closed giving mixed signals, as traders weighed the latest batch of corporate earnings. The Dow Jones Industrial Average rose 0.07% to 38,884.3. In company news, Walt Disney raised its full-year earnings growth outlook as the media and entertainment giant’s fiscal second-quarter results increased annually, although revenue fell short of market estimates

Read More… Read Less

Daily Outlook

US30

Intra Day
Near Day

Technical Levels

R3 39337
R2 39015
R1 38914
Turnaround 38900
S1 38744
S2 38547
S3 38360
By Research Team Wednesday, May 8, 2024
GOLD

    • 11.40amD1
    • High2330
    • Low2310
    • Close2314.13

XAU/USD is trading at 2308.98, 0.42% down since previous day close. Gold prices were little changed on Wednesday as market participants assessed the timeline for potential U.S. interest rate cuts and were on the lookout for fresh cues for further clarity on monetary policy. Gold prices rose in Asian trade on Tuesday after China announce to add more gold in their reserve. On daily chart basis this spot may hold at resistance level of $2325 on technical ground. Its first support is $2308 and next one is at $2239. One thing to consider is that how FED handle their interest rate this month. As per experts Fed will most probably go with unchanged rate.

Read More… Read Less

Daily Outlook

GOLD

Intra Day
Near Day

Technical Levels

R3 2388.65
R2 2348.81
R1 2331.72
Turnaround 2310
S1 2308.98
S2 2289.74
S3 2267.88
footer-logo

XFlow Markets provides an entirely transparent access to the FOREX Market through two powerful trading platforms with excellent execution speed, a 24/5 client support system with no dealing desk involvement.

 

© 2024 XFlow Markets, All rights reserved.

Risk Warning: Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances.

You may lose more than you invest. Information on this website is general in nature. We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. Trading through an online platform carries additional risks.

 

XFlow Markets INC is incorporated in Saint Lucia with registration no. 2023/C088 governed by the Companies Act, Cap 13.01 of the revised laws of Saint Lucia.

XFlow Markets does not offer Contracts for Difference to residents of certain jurisdictions including the Belgium, Iran, Canada, North Korea, the USA, Cuba, Syria and FATF Black Listed Countries.

Telephone number: UK: +44 20 38355241 Working hours: 7:00 AM - 5:00 PM (GMT+0)

XFlow Markets does not offer any fixed returns & guaranteed profits. Forex and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Your capital is at risk. Please consider our Risk Disclosure.

XFlow Markets does not guarantee any returns or profits. Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.