GBPUSD & XAUUSD Forex Forecast : 26 - 06 - 2023

Greetings, fellow traders! Welcome to our weekly forecast on YouTube, where we delve into the analysis of two significant assets: XAUUSD (Gold) and GU (GBPUSD).

Let's begin with our analysis of the GBPUSD pair on the 4-hour chart. We have observed a recent bullish movement, successfully surpassing the previous high at 1.2680. However, it is important to note that we have encountered resistance at the breaker block, and we are yet to surpass the current high at 1.2850. This suggests the possibility of a retracement within the golden area of Fibonacci or potentially even further, around the 79% retracement level. This retracement, commonly known as a premium retracement, aims to surpass the current high and target areas around the weekly Point of Interest (POI) in the 1.30's region.

Now, let's shift our focus to XAUUSD. We have witnessed a bearish movement in the price, indicating a willingness to reach the 1900 level where the daily POI stands. It is probable that we may experience a reversal from this level, followed by a break of the first support at 1965, then the second support at 1986. The potential target is to reach 2010 and beyond. However, for now, we will closely monitor the price as it approaches the 1900 zone and observe its reaction.

Thank you for your attention, and I wish you successful and prosperous trading endeavors.
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▶Disclaimer
Everything mentioned in the video is just my personal opinion. This content is for educational and entertainment purposes only and not financial or professional advice.