The EURJPY pair didn’t settle above 172.00 level, affected by stochastic exit from the overbought level, forming some of the bearish correctional waves and its stability near 171.65.
The continuation of the negative pressures will force it to suffer more of the losses, to expect attacking 170.45 level, to extend the losses towards 169.80 which might form a neckline for the negative double top level, therefore, we recommend monitoring the price behavior when reaching this level to detect the main trend in the upcoming trading.
The expected trading range for today is between 170.45 and 172.30
Important DisclaimersThe content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party’s services, and does not assume responsibility for your use of any such third party’s website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.Risk DisclaimersThis website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
Buy gold from the $3290 support level, with a target of $3400 and a stop-loss at $3270.
Sell gold from the $3370 resistance level, with a target of $3280 and a stop-loss at $3400
Technical Analysis of Gold Price (XAU/USD) Today
The gold price index has fallen to a three-week low, with losses taking it to the $3311 support level. Before this decline, we had advised on the live trading recommendations page to close the buy recommendation for gold at the current profit to avoid further selling pressure. The recent drop was fueled by the potential for easing geopolitical tensions and a rising US dollar, both weighing on the yellow metal ahead of the Federal Reserve’s Jackson Hole Symposium.
Yesterday, US President Trump indicated he would not deploy ground troops to Ukraine, but left open the possibility of providing air support as part of efforts to address the conflict with Russia. Ukrainian President Zelenskiy also welcomed the peace talks, but Russia has not yet confirmed its participation, creating uncertainty about the prospects for a swift resolution.
Meanwhile, amid an additional factor influencing the market, all eyes are on Federal Reserve Chairman Powell’s upcoming speech at the Jackson Hole Symposium, seeking guidance on the future direction of the US central bank’s policy. Later today, the release of the minutes from the latest Federal Open Market Committee (FOMC) meeting is expected to provide additional insights. Overall, market prices currently point to two 25 basis point rate cuts this year, with the first likely to occur in September.
Technical levels for gold prices today
Dear reader, based on the performance on the daily chart above, gold prices are still trending down. According to gold analysts’ expectations, bears may have the opportunity to breach the $3,300 per ounce support level if an agreement is reached to end the Russian-Ukrainian war. The US dollar gained ground in response to the Jackson Hole Symposium, and vice versa. With the recent losses, the 14-day RSI has moved around a reading of 48 below the midline, supporting bearish control and signaling a stronger downward move before the index reaches a sell-off. Meanwhile, the MACD indicator remains bearish.
Note that a break of the $3,300 support will increase technical selling activity, but at the same time, it may provide opportunities to establish a new buying base. Conversely, over the same timeframe, bulls will regain confidence in the performance if they return the gold price index to the resistance levels of $3,375 and $3,400 per ounce, respectively.
Trading Tips
Traders at TradersUp are advised to wait for gold to move towards and below the $3,300 support level before considering buying again.
Dollar price rebounds ahead of FOMC minutes
According to currency market trading, the US Dollar Index (DXY), which measures the performance of the US currency against a basket of other major currencies, rose above 98.3 today, continuing its winning streak for the third consecutive session. This comes as investors await the minutes of the Federal Reserve’s July meeting for clues on the outlook for monetary policy. The meeting was notable for being the first since 1993, with two dissenting members voting, with Fed Governors Christopher Waller and Michael Bowman favoring a quarter-point cut in US interest rates rather than holding them steady.
Markets will now focus on Fed Chair Jerome Powell’s remarks at the Jackson Hole Symposium for indications of whether the US central bank will resist market expectations for monetary easing. Traders currently price in an 85% chance of a September rate cut and anticipate about 54 basis points of cuts by year-end.
According to trading, the US dollar has generally strengthened, with its largest gains against the Euro, Pound Sterling, and Australian Dollar.
GBP/USD trades at around 1.3500 in the European session on Wednesday.
Annual CPI inflation in the UK rose to 3.8% in July.
The technical outlook is yet to point to a buildup in recovery momentum.
After falling to a fresh eight-day low near 1.3460 in the Asian session on Wednesday, GBP/USD recovered to the 1.3500 area in the European trading hours. The pair’s technical outlook, however, doesn’t yet offer any convincing signs of an extended recovery.
British Pound PRICE This week
The table below shows the percentage change of British Pound (GBP) against listed major currencies this week. British Pound was the weakest against the US Dollar.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
0.58%
0.50%
0.24%
0.41%
1.17%
1.67%
0.24%
EUR
-0.58%
-0.09%
-0.38%
-0.18%
0.60%
1.06%
-0.33%
GBP
-0.50%
0.09%
-0.38%
-0.08%
0.69%
1.15%
-0.29%
JPY
-0.24%
0.38%
0.38%
0.20%
0.97%
1.48%
0.02%
CAD
-0.41%
0.18%
0.08%
-0.20%
0.74%
1.27%
-0.20%
AUD
-1.17%
-0.60%
-0.69%
-0.97%
-0.74%
0.46%
-0.97%
NZD
-1.67%
-1.06%
-1.15%
-1.48%
-1.27%
-0.46%
-1.45%
CHF
-0.24%
0.33%
0.29%
-0.02%
0.20%
0.97%
1.45%
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
The broad-based US Dollar (USD) strength amid a risk-averse market environment caused GBP/USD to stretch lower on Tuesday and early Wednesday, before Pound Sterling found support on July inflation data from the UK.
The UK’s Office for National Statistics reported that the Consumer Price Index (CPI) rose by 3.8% on a yearly basis in July. This print followed the 3.6% increase recorded in June and came in above the market expectation of 3.7%. On a monthly basis, the CPI rose by 0.1%, compared to analysts’ estimate for a decrease of 0.1%.
Meanwhile, Reuters reported on Tuesday that 50 of 62 polled economists said that they expect the Bank of England (BoE) to lower the policy rate once more this year, in the fourth quarter, by 25 basis points to 3.75%. Although GBP/USD keeps its footing after the latest inflation data, it finds it difficult to gather bullish momentum, with investors already largely anticipating the BoE to cut rates just once more in 2025.
In the late American session, the Federal Reserve (Fed) will release the minutes of the July policy meeting. Since that meeting took place before the release of the latest employment and inflation data from the US, its content might be seen as outdated. Nevertheless, market participants could react to changes in risk perception. A bearish action in Wall Street’s main indexes could cause GBP/USD to edge lower in the second half of the day.
GBP/USD Technical Analysis
The Relative Strength Index (RSI) indicator on the 4-hour chart stays below 50, reflecting a lack of buyer interest.
In case 1.3500 (static level, 50-day Simple Moving Average (SMA), round level) is confirmed as resistance, 1.3460 (Fibonacci 50% retracement of the latest downtrend, 200-period SMA) could be seen as the next support before 1.3410-1.3400 (Fibonacci 38.2% retracement, 100-period SMA) and 1.3330 (static level).
Looking north, resistance levels could be seen at 1.3540 (Fibonacci 61.8% retracement), 1.3590-1.3600 (static level, round level) and 1.3640 (Fibonacci 78.6% retracement).
Pound Sterling FAQs
The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data.
Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE).
The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates.
When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money.
When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects.
Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP.
A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall.
Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period.
If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
The euro has been slightly positive during the early hours here on Tuesday, as we continue to see a lot of noisy behavior coming out of the Forex markets, especially as traders are trying to get an idea as to where monetary policy is going to be with the Americans.
After all, the Fed Funds Futures markets are pricing in an almost guaranteed 25 basis point rate cut coming out all the FOMC meeting on September, but I do think you also have to keep in mind that the real question will be whether or not Jerome Powell sounds dovish later this week in his Jackson Hole Symposium speech.
Technical Analysis
The technical analysis for this market is somewhat neutral at the moment, as the 1.16 level underneath is going to offer a certain amount of support, right along with the 50 Day EMA sitting there. The 50 Day EMA of course is an indicator that a lot of people will be watching closely, as it has behaved for the most part like a trendline. As long as that ends up being the case, then I think you have a certain amount of buying pressure underneath. Furthermore, we have been in an uptrend, but I would also point out that we had seen a major double top near the 1.18 level just a few weeks ago. In other words, I think it makes sense that we get a bit of consolidation in this area.
We are at the end of the summer vacation season when things culminate and typically there is a lack of volume. The end of August is pretty miserable for trading at times, just simply due to the fact that the bigger players are there. However, we have enough going on at the moment that I think we will continue to see a lot of choppiness and attention paid to this pair but given enough time it should give us an idea as to where the US dollar is going overall. If we were to break down below the 1.15 level in this market, I suspect that the US dollar will not only strengthen against the euro to reach the 1.12 level, but it will also probably break a lot of other currencies.
Christopher Lewis has been trading Forex and has over 20 years experience in financial markets. Chris has been a regular contributor to Daily Forex since the early days of the site. He writes about Forex for several online publications, including FX Empire, Investing.com, and his own site, aptly named The Trader Guy. Chris favours technical analysis methods to identify his trades and likes to trade equity indices and commodities as well as Forex. He favours a longer-term trading style, and his trades often last for days or weeks.
The (ETHUSD) price settled low in its last intraday trading, after breaking the key support at $4,150, amid the continuation of the negative pressure due to its trading below EMA50, and under the dominance of bearish correctional wave on the short-term basis and its trading alongside a bias line that reinforces the stability of this track, especially with the emergence of the negative signal on the (RSI), after it succeeded in offloading its oversold conditions in its previous trading, opening the way for recording more of the losses.
VIP Trading Signals Performance by BestTradingSignal.com (August 11–15, 2025)
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Important DisclaimersThe content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party’s services, and does not assume responsibility for your use of any such third party’s website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.Risk DisclaimersThis website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.
The EURJPY pair didn’t settle above 172.00 level, affected by stochastic exit from the overbought level, forming some of the bearish correctional waves and its stability near 171.65.
The continuation of the negative pressures will force it to suffer more of the losses, to expect attacking 170.45 level, to extend the losses towards 169.80 which might form a neckline for the negative double top level, therefore, we recommend monitoring the price behavior when reaching this level to detect the main trend in the upcoming trading.
The expected trading range for today is between 170.45 and 172.30
The (silver) price continued the decline in its last intraday trading, affected by the dominance of minor bearish wave, while it moves alongside a support bias line, indicating the strength of the dominant pressure on the trading, resuming its trading below EMA50, intensifying the strength of the bearish trend.
At the same time, the negative signals come from the (RSI), despite reaching sharp oversold levels, opening the way for limited rebounding attempts on an intraday basis, but the overall technical image remains suggesting more of the downside moves unless it manages to breach critical resistance levels that turns some of the positive momentum back.
VIP Trading Signals Performance by BestTradingSignal.com (August 11–15, 2025)
BestTradingSignal.com – Professional Trading Signals with high accuracy. Subscribe now to tailored packages for the world’s leading markets and receive signals instantly via Telegram from an expert team:
Check full VIP signals performance report for the week of August 11–15, 2025: Full Report
The British pound initially trying to rally during the trading session here on Tuesday but has given back those gains pretty quickly.
Ultimately, I think you’ve got a scenario where traders are going to look at this through the prism of a potential downtrend tying to form.
And I am seeing this across the Forex world where the US dollar is supposed to be crumbling and losing its status as the world’s reserve currency is basically fighting tooth and nail with a lot of these currencies.
I’m Not Shorting, But…
Now, having said that, the British pound is not necessarily where I’m looking to short if I’m going to start trading in favor of the US dollar. But if this one gives it up, everybody else doesn’t stand a chance because the British pound has been the all-star, if you will, of currency trading recently.
After all the market is very strong for the British pound until recently. And while other currencies did fairly well, the British pound not only did well on the way up, but it did well on the way down when the U S dollar was destroying everything in its site, the British pound did okay. It fell less than others. So, I watched this chart very closely as an indicator on how the US dollar is going to do because of its show strength here. It’s going to destroy Canadian dollars, New Zealand dollar, Australian dollar, Japanese yen, the euro to a point, Swiss franc to a point. But we are seeing a bifurcation between Europe and Asia.
There are some outliers out there like the Mexican peso that might do okay just because of the interest rate differential between it and the US dollar, but the British pound is the harbinger of everything at this point. If we can break above the 1.36 level in this pair, then I think the US dollar really starts to suffer at the hands of pretty much everybody. So while we are still very much in an uptrend, it’s not lost on me that we are struggling at the same place yet again. Jackson Hole Symposium speeches at the end of the week could be the final nail in the coffin of whichever direction we pick. Right now, the dollar looks like it’s not quite ready to give up.
Christopher Lewis has been trading Forex and has over 20 years experience in financial markets. Chris has been a regular contributor to Daily Forex since the early days of the site. He writes about Forex for several online publications, including FX Empire, Investing.com, and his own site, aptly named The Trader Guy. Chris favours technical analysis methods to identify his trades and likes to trade equity indices and commodities as well as Forex. He favours a longer-term trading style, and his trades often last for days or weeks.
