Midday update for Gold 24-01-2024

The GBPUSD pair rallies upwards to reach the thresholds of the first waited target at 1.2780, and we suggest the continuation of the bullish bias to visit 1.2825 as a next station, noting that surpassing this level will lead the price to achieve more gains on the longer-term basis and head towards 1.3000 areas.

The EURUSD pair trades with strong positivity to breach 1.0860 level and attempts to confirm surpassing 1.0890 level, to hint heading to recover for the rest of the day, affected by stochastic positivity, but we prefer to stay aside until the price confirms breaching 1.0890 resistance or breaking the support line formed at 1.0860 to detect the next destination clearly.

The NZDCAD pair faced strong negative pressures recently to force it to postpone the bullish attack and provide correctional trades to notice reaching the additional support at 0.8175 and hold above it.