Oil prices will likely remain elevated as there are no signs that the Middle East tensions will ease anytime soon.
GBP/USD: pair to test the next support
The market is consolidating between the 55 and 89 Moving Averages. It's likely that the pair is going to test the next support at 1.2910 - 1.2854 in the coming hours. If a pullback from this area happens next, bulls will probably try to reach the nearest resistance at 1.2946 - 1.2957.
There's a 'Pennant' pattern, which has been broken. So, we should keep an eye on the nearest support at 1.2889 - 1.2854 as an intraday target. The subsequent pullback from these levels could be a starting point for an upward correction.
This week, the Turkish lira has experienced a selloff, and USD/TRY jumped to the highest levels since the end of August in the 5.88 area.
GBP/CAD made a huge leap to the upside yesterday and got above 1.65 and arrived at the resistance line from May.
One of the most attractive bets on the positive outcome of the trade negotiation is selling XAU/USD.