FxAnalysis

GBP/USD is under pressure near 1.3100 as weak UK data and budget uncertainty weigh on sentiment, with technicals signaling a possible drop to 1.2950.

EUR/USD remains pressured below key resistance as traders digest strong US jobs data and await Lagarde’s speech, with bearish signals pointing toward 1.1390.

EUR/USD lost about 1% in the previous week but managed to stabilize above 1.1500 in the European morning on Monday. The pair’s near-term technical outlook shows that the bearish bias remains intact but struggles to gather momentum.

Gold (XAU/USD) edged lower after rising more than 2% in the previous week but stabilized above $4,000. Diminishing bets of a Federal Reserve (Fed) interest rate cut could keep the bulls at bay as markets wait for the US economic data backlog to clear. 

The EUR/USD pair edged lower on a weekly basis, bottoming at 1.1496 on Friday, to finally settle barely above this level, not far above 1.1468, the November monthly low.

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