8 September 2025,06:06
Chart The Market
8 September 2025, 06:06
GOLD, H1:
Gold prices surged to fresh record highs before consolidating near the 3595.00 resistance zone. Market participants are closely watching for a breakout, as a confirmed move above this level could open the door for further upside toward the next resistance at 3660.00, which aligns with the Fibonacci expansion target. Historically, traders often rely on Fibonacci extension tools to project price movements once an asset breaches record highs.
However, caution is warranted. MACD and RSI are flashing bearish divergence signals—while price action remains on an upward trajectory, momentum indicators are trending lower. This divergence suggests the possibility of a technical pullback or profit-taking phase.
On the downside, the yellow MA line will serve as the first key support. A decisive break below this dynamic level could reinforce bearish momentum, paving the way for a deeper correction toward 3555.00, with extended downside risk toward 3525.00.
Resistance Level: 3595.00, 3660.00
Support Level: 3555.00, 3525.00
GBP/USD
GBP/USD is trading softer after retreating from the 1.3540 resistance area. The recent doji candlestick formation at this level signals indecision and raises the risk of a near-term pullback. Momentum indicators echo this view—MACD shows fading bullish pressure, while RSI has retreated from its overbought region (currently at 58), hinting at potential corrective downside.
If bearish momentum accelerates, the pair could extend its retracement toward 1.3435 support, with further losses exposing 1.3350.
That said, the bullish case cannot be dismissed. A clean breakout above 1.3540 would invalidate the correction bias and suggest a renewed bullish leg. If momentum carries the pair beyond this threshold, traders may target the next resistance at 1.3605.
Resistance: 1.3540, 1.3605
Support: 1.3435, 1.3350
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