GBP/USD formed a bearish double-top and dropped ahead of the BoE decision and UK tax hike signals, with further downside likely if support at 1.2940 breaks.

Gold is trying hard to hold the previous rebound early Thursday, but sellers continue to lurk near the $4,000 mark, leaving the bright metal in a narrow range.

EUR/USD extended its losing streak on Wednesday, slipping back toward the 1.1470 area, its lowest level since August, as the pair’s recent bearish run shows little sign of stopping.

The Australian Dollar (AUD) finally found its footing on Wednesday, pushing AUD/USD back above the 0.6500 mark after five straight days in the red.

Gold traded within a well-defined range throughout the first half of Wednesday, now hovering around $3,980 per troy ounce in the American session. The lack of a clear catalyst kept investors in cautious mode, although the US Dollar (USD) retained its positive tone across the FX board.

The EUR/USD pair trades near a fresh multi-week low of 1.1473, confined to a tight intraday range.