Analysis Technical analysis

The Daily Markets Watch: GOLD, GBPUSD & EURUAD (30.12.2021)

Gold has returned within the longer-term descending channel following a rejection at the 50% Fibonacci retracement at $1815. However, the short-term bull case remains afloat as traders keep scooping the recent 0.40% declines.

The pound remains under pressure intraday as the dollar seems to be pushing higher across the board. 0.30% lower but currently sitting on critical support. Can bulls hold?

Euro’s weakness is most evident against high-beta currencies, with Aussie making a comeback 0.50% lower in Thursday’s trading session. Are we in for further bearishness?

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