technical

GBP/USD consolidates in a bullish flag pattern as traders await UK GDP data, with technicals suggesting a breakout toward 1.3565 and beyond.

EUR/USD remains under pressure as geopolitical tensions and strong US retail data drive dollar strength, with technicals pointing toward a test of 1.1500.

EUR/USD depreciates for the third consecutive day on Thursday, trading right above 1.1630 at the time of writing, with the one-month low, at 1.1618, coming closer. Strong US macroeconomic figures and easing concerns about the US Federal Reserve’s autonomy are underpinning support for the Greenback.

AUD/USD is still struggling to find clear direction, maintaining the trade within a multi-day consolidative theme. Any upside so far has been capped around the 0.6700 area, with the US Dollar (USD) continuing to call the shots on short-term price action.

Spot Gold extended its record rally on Wednesday to $4,642, slowly but steadily grinding north as risk sentiment turned off.  The US Dollar (USD) also found some favor in the dismal mood, resulting in the bright metal retreating towards the current $4,610 area.

Major pairs made little progress throughout the first half of Wednesday, with EUR/USD still trading around 1.1650. Market participants are still struggling to find a clear directional catalyst, as the United States (US) political noise blurs perspectives.