Technical Analysis 2017.07.21 XAU/USD & GBP/USD

XAU/USD, D1
The day chart shows that the pair is moving up to the upper extreme of the Bollinger Band. The moving averages are horizontal with the price surpassing both.. The pairs composite is pushing against a strong resistance.




Key levels
Support levels XAU/USD: 1228.00, 1214.00, 1207.00.
Resistance levels XAU/USD: 1258.00, 1277.00, 1292.00.
GBP/USD
Trend Now
We have seen the GBP’s price slipping regulary since early on this week. this is even against the USD which also has been losing ground against its major currency counterparts. Yesterday’s UK retail sales report surpassed the 0.2% expectations reaching 0.6%. The UK expenditure indicator though drew a different picture, ultimately failing to support the falling pair as the investors remained unsure about a peak in expenses to sluggish income growth.
Nothing significant is scheduled today that could effect the currency pair.
Support and resistance
The D1 is showing the instrument moving away from its support level set at 1.2960. Bollinger Bands have and upward vector, while its range has dropped slightly which is also the reason behind the trend we are seeing.
Support levels GBP/USD: 1.2960, 1.2920, 1.2860, 1.2770.
Resistance levels GBP/USD: 1.3025, 1.3075, 1.3135.


This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice.

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