GBP/USD
Trend Theme：GBP/USD holds below 1.2650, focus on UK CPI, US Retail Sales data.
Trend Review：The GBP/USD pair posts modest gains below the mid-1.2600s during the early Asian session on Wednesday. The upside of the pair might be capped due to the softer-than-projected UK wage growth and the ongoing geopolitical tension in the Middle East, which exert some selling pressure on the British Pound.
Today Advise：Bullish
Key Levels：
| PP | Resistance* | 1.2704 * | 1.2776 ** | 1.2818 *** |
| 1.2662 | Support* | 1.2589 * | 1.2547 ** | 1.2474 *** |
Weekly forecast：
————————————————————————————————-
USD/JPY
Trend Theme：Japanese Yen drops to over one-month low against USD amid divergent BoJ-Fed expectations.
Trend Review：The Japanese Yen drifts lower for the third successive day amid dovish BoJ expectations. Reduced bets for an early Fed rate cut lend support to the USD and the USD/JPY pair. Traders now look forward to the US Retail Sales data and Fedspeak for a fresh impetus.
Today Advise：Bearish
Key Levels：
| PP | Resistance* | 147.86 * | 148.45 ** | 149.59 *** |
| 146.72 | Support* | 146.13 * | 145.00 ** | 144.41 *** |
Weekly forecast：
—————————————————————————————————
WTI
Trend Theme：A stronger dollar offset the Red Sea disruption, and oil prices once again rose and fell.
Trend Review：Oil prices came under pressure yesterday as the dollar rose to its highest level in a month, but were supported by concerns about the impact of escalating tensions in the Middle East on energy supplies. Record U.S. production and increased output from some members of the Organization of the Petroleum Exporting Countries (OPEC) also suggest the oil market will be less tight in early 2024 than initially expected.
Today Advise：Bearish
Key Levels：
| PP | Resistance* | 73.15 * | 74.32 ** | 74.96 *** |
| 72.50 | Support* | 71.34 * | 70.69 ** | 69.52 *** |
Weekly forecast：
—————————————————————————————————
XAU/USD
Trend Theme：Gold remains under pressure below $2,030, eyes on Chinese data, US Retail Sales.
Trend Review：Gold remains under pressure below the mid-$2,000s during the early Asian session on Wednesday. The ongoing US Dollar demand and higher US Treasury yields drag the yellow metal lower. The XAU/USD price is trading around $2,025, losing 0.09% for the day.
Today Advise：Bearish
Key Levels：
| PP | Resistance* | 2047.90 * | 2067.42 ** | 2079.22 *** |
| 2036.10 | Support* | 2016.58 * | 2004.78 ** | 1985.26 *** |
Weekly forecast：
