Short-term bias is neutral with a very minor positive potential to touch 1.2010 but only & only if the pair moves higher than last week’s high of 1.1814, while long-term bias seems negative towards 1.0837. Last week the pair closed at 1.1603. This week the pair is expected to move and fro between 1.1534 ~ 1.1683. However, if the pair makes a move below 1.1534 especially 1.1507 then short & long-term biases will become negative and the last week’s high of 1.1815 may become the max ceiling for coming weeks.
Short-term & long-term bias is neutral to negative until the pair makes a move higher than 1.3298. Last week the pair made a high of 1.3217 and a low of 1.2999 and closed at 1.3028. In this week, it is expected that GBPUSD may try to make a move towards 1.3217 but it is expected to fail short of 1.3180, consider that as an opportunity to short sell with a stop loss at 1.3230 and a target of 1.2917 in mind.
After a weekly closing above its channel support line and its uptrend line, this pair closed last week at 89.04. Here onwards, I feel that short & long-term bias is bullish unless this pair breaks below 88.70, and next if this pair happens to fall below 88.47 the scenario then will give way to bears. As soon as this pair starts trading above 89.14, it is a strong buy with a stop loss at 88.65 and its 1sttarget at 90.14, 2ndtarget at 90.39 and 3rdtarget at 90.85.
Short & long-term bias is strongly bullish. This pair closed last week at 113.68. Its long-term target stands at 1.2128 while its short-term target stands at 114.50. However, this pair faces tough resistances between 114.10 and 114.73. Its support stands at 113.15. Any lower dip may be treated as an opportunity to buy.
The short-term bias of Brent oil is neutral to positive while long-term bias is bullish. It closed at 82.90 after making a high of 83.31 in last week. Note that any move higher than 83.31 and its daily close above 83.15 will set the new target at 86.31. However, before continuing with its bullish run, the Brent oil may test its support levels by turning its very short-term bias negative for this week. The first support level is at 81.90, then 2ndat 80.75 and finally 3rdand strong support exists at 79.40, breaking which will totally change the bias of Brent Oil from bulls to bears.
The short-term bias of gold is neutral to slightly negative while the long-term bias of gold remains negative until it crosses above 1215.00. The spot gold closed last week at 1191.51. Any higher moves may be treated as opportunity to sell with stop loss at 1216.50 and short-term target at 1273.50. It may test 1172.75 during this week before making any other serious attempt towards breaking 1215. Any break below 1160.00 will open new downward vistas at least up to 1133.00.