FxWirePro-Major European Indices 
FxWirePro- Major Crypto levels and bias summary 
FxWirePro: GBP/USD recovers slightly from early decline ahead of Bank of England’s interest rate decision 
FxWirePro: AUD/USD runs out of steam but maintains bullish outlook 
FxWirePro- Woodies Pivot(Major) 
FxWirePro- Woodies Pivot(Major) 
FxWirePro: NZD/USD sidelined ahead Of key New Zealand GDP and US inflation update 
FxWirePro: GBP/NZD remains bullish as rally continues 
USD Loses Shine: Soft Labor Market and Stalling Consumer Spending Drag USDCHF Lower 
UK Economy Accelerates, But GBP/JPY Stays Capped – Sell Toward 206 
FxWirePro: GBP/AUD maintains bullish bias with focus on 2.0300 level 
FxWirePro:USD/JPY neutral in the near-term, scope for downward resumption 
FxWirePro: EUR/NZD edges lower but bullish outlook persists 
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ETH/USD Clings Below $3000 in BTC's Shadow: Buy Deep Dips at $2700 Targeting $4000 Breakout 
Ichimoku Analysis (4-hour chart)
Tenken-Sen- $1970.25
Kijun-Sen- $1969.76
Gold prices pared most of their gains on the strong US dollar. US Fed meeting minutes show that Fed members are divided over more rate hikes. Fed officials also mentioned that further rate hikes will be data-dependent. It hits a low of $1955 yesterday and is currently trading around $1957.60.
Markets eye progress in US debt negotiations deals for further direction.
Major economic data for the day
May 25th 2023, US Prelim GDP Q/Q (12:30pm GMT)
US unemployment claims
Pending home sales (2 pm GMT)
US dollar index- Bullish. Minor support around 102.30/101.50. The near-term resistance is 104.20/105.
According to the CME Fed watch tool, the probability of a 25 bpbs rate hike in June increased to 29.5% from 28.40% a week ago.
The US 10-year yield continues to trade higher for the second consecutive week. The US 10 and 2-year spread narrowed to -65.7% from -108%.
Factors to watch for gold price action-
Global stock market- bullish (negative for gold)
US dollar index - Bullish (negative for gold)
US10-year bond yield- Bullish (Bearish Mixed for gold)
Technical:
The near–term support is around $1950, a break below targets of $1935/$1900.The yellow metal faces minor resistance around $1970, and a breach above will take it to the next level of $2000/$2020/$2040/$2070/$2100/$2150.
It is good to sell below $1950 with SL around $1960 for TP of $1935/$1930.
