
GBP/USD Forecast: Bulls could ignore overbought conditions
GBP/USD gains traction in the European session on Tuesday and advances toward 1.3600 after posting modest gains on Monday.
GBP/USD gains traction in the European session on Tuesday and advances toward 1.3600 after posting modest gains on Monday.
The AUD/USD pair prolongs its uptrend for the third consecutive day on Tuesday and advances to levels beyond the 0.6600 mark, or the highest since July 24 during the first half of the European session.
EUR/USD stays in a consolidation phase at around 1.1750 in the European session after touching its highest level since late July at 1.1780 earlier in the day.
EUR/USD remains bullish above 1.17 as traders eye ECB policy and US inflation data, though resistance at 1.1780–1.1860 could trigger a pullback.
Gold surged to a record $3,659 per ounce on Tuesday, with Fed rate cut bets keeping XAU/USD bullish toward the $3,700 mark despite overbought signals.
The Nasdaq 100 hovers at 23,817 as buyers test resistance near 23,850, with US inflation data set to determine whether record highs can be challenged.