GBPUSD

The GBPUSD pair has declined to the level of 1.2680, negatively affected by the global uncertainty created by the trade war. Trump's threat of an additional 50% tariff on China and tariffs that will reach a total of 104% have put pressure on the Pound by impacting trade between the UK and both the EU and the US. The Bank of England's more cautious stance on interest rate cuts compared to the ECB provides limited support to the Pound; however, the uncertain course of trade negotiations between the US and the UK and concerns about global growth support the downtrend of the pair. Technically, as the support at 1.2815 has been broken, the positive outlook has come to an end, and it appears risky to evaluate positions in the buying direction.

XAUUSD ANALYSIS