Sterling Crushed by Double-Contraction GDP – EURGBP Spikes, Next Stop 0.8850–0.8900 
FxWirePro- Woodies Pivot(Major) 
FxWirePro: GBP/NZD ticks down after UK GDP data disappoints 
FxWirePro: NZD/USD consolidates around 0 .5810,room for further gains 
FxWirePro: GBP/AUD gives up early gains after UK GDP shock 
FxWirePro: USD/JPY slips as yen gains ahead of BOJ meet 
FxWirePro: GBP/USD dips on UK GDP data miss 
UK GDP Flops Again: GBPJPY Drops to 207.22 But Bulls Hold the Line – Buy the Dip to 210? 
FxWirePro: AUD/USD dips on soft China data 
FxWirePro: GBP/USD steadies ahead key data, BoE event risk 
Yen Strikes Back: AUD/JPY Retreats as BOJ Policy Looms – Sell on Rallies to 100 
FxWirePro- Major European Indices 
FxWirePro- Woodies Pivot(Major) 
FxWirePro: USD/ZAR neutral in the near-term, scope for downward resumption 
FxWirePro- Major European Indices 
FxWirePro: EUR/AUD trends higher, but faces potential pitfalls 
FxWirePro: USD/JPY caught in narrow range, bias bearish 
- Major support - $1267 (7 day EMA)
- Major resistance - $1289 (May 16th high)
- The yellow metal has jumped till $1289.50 yesterday and slightly declined from that level. Market awaits US Fed monetary policy meeting which will be concluded with a rate statement on Wednesday. It is currently trading at $1283.
- Markets expect the Fed to keep its interest rate unchanged in today’s meeting. The rate hike chance in Jun is very minimal at 1.9% compared to a 26.3% in May and for July is at 17.9% compared to 43.2% in May. The chance of rate hike has eased mainly due to dismal US Nonfarm Payrolls report.
- The minor support of Gold is around $1267 (7 day EMA ) and any break below will drag the pair down till $1260 (55 4H EMA)/$1248 (daily Tenken-Sen).
- On the higher side any break above $1289 will take the gold to next level at $1300/$1305.Extreme bullishness can be seen above $1305 level.
- Overall trend reversal only below $1200.
It is good to buy at dips around $1275 with SL around $1265 for the TP of $1293/1300
