Energy & commodities
$GBPUSD has been chopping around 1.2700 all week. Seems like bulls are running out of steam after the recent rally. Is this a healthy consolidation before another leg up, or are we looking at a reversal back towards 1.2600? BOE decision next week could be a catalyst.
Watching $SPX closely this week. We've seen a solid rebound, but 5200 is proving to be a tough resistance. A clear break above 5220 could open the door to 5280, otherwise, we might retest 5150. Inflation data will be key.
It feels like $ETH has been coiling up for a big move, but the direction is anyone's guess right now. We've seen strong support at $3200 but resistance around $3500 seems to be holding firm. Are we setting up for a breakout above $3500 or a retest of $3000?
Gold has been consolidating nicely. I'm eyeing a long entry around 2315, a key support level. If it holds, we could see a push back towards 2350.
$EURUSD is showing clear rejection after a false breakout above 1.0900. I'm looking for a retest of the previous range low.