Analyzes

Silver rallied sharply on Friday, testing $39 resistance with bullish momentum eyeing $40–$42.50 while short-term support holds near $38.

The British pound dropped against the yen despite a risk-on backdrop, with GBP/JPY capped at 200 resistance and support near 198.40.

AUD/USD rebounded after forming a double-bottom at 0.6420, with bullish momentum targeting 0.6567 while 0.6422 acts as critical support.

GBP/USD formed an inverse head-and-shoulders pattern after Powell’s dovish remarks, with bullish momentum aiming for 1.3700 while 1.3400 acts as key support.

Jerome Powell’s dovish speech on a September rate cut last Friday saw markets turnaround, with the major US equity index again poised to challenge its record high if the bullishness is sustained into the coming week.

The GBP/USD went into this weekend near the 1.35275 ratio, this after touching the 1.33910 vicinity early on Friday.