GBP/USD
Trend Theme：GBP/USD advances to fresh yearly high above 1.2900.
Trend Review：GBP/USD accelerates its gains and trades at its highest level since July 2023 above 1.2900. The US Dollar stays under heavy selling pressure following the softer-than-expected inflation readings for June, fuelling the pair’s rally.
Today Advise：Bullish
Key Levels：
| PP | Resistance* | 1.29056 * | 1.29086 ** | 1.29135 *** |
| 1.29037 | Support* | 1.29007 * | 1.28988 ** | 1.28939 *** |
Weekly forecast：
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USD/JPY
Trend Theme：USD/JPY stabilizes above 159.00,more intervention risks loom.
Trend Review：USD/JPY stabilizes above 159.00 in the Asian session on Friday after the overnight wild swings, fuelled by the dual rounds of Japanese FX intervention. A broad US Dollar recovery also adds to the renewed upside in the pair. Traders are on high alert amid looming risks of more intervention.
Today Advise：Bearish
Key Levels：
| PP | Resistance* | 159.552 * | 159.765 ** | 160.391 *** |
| 159.139 | Support* | 158.926 * | 158.513 ** | 157.887 *** |
Weekly forecast：
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WTI
Trend Theme：U.S. inflation data brings hope for rate cuts, oil prices continue to rebound.
Trend Review：Oil prices rose for a second straight session on Thursday, with Brent crude closing above $85 a barrel, as hopes for a U.S. interest rate cut grew after data showed an unexpected slowdown in inflation. In addition, renewed concerns about geopolitical tensions also supported oil prices.
Today Advise：Bullish
Key Levels：
| PP | Resistance* | 82.154 * | 82.208 ** | 82.367 *** |
| 82.049 | Support* | 81.995 * | 81.89 ** | 81.731 *** |
Weekly forecast：
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XAU/USD
Trend Theme：Gold price pulls back from multi-week top, downside potential seems limited.
Trend Review：Gold price drifts lower and reverses a part of Thursday’s softer US CPI-inspired positive move. An uptick in the US bond yields revives the USD demand and exerts pressure on the XAU/USD. Rising September Fed rate cut bets should act as a tailwind for the metal and help limit losses.
Today Advise：Sideways
Key Levels：
| PP | Resistance* | 2375.01 * | 2376.26 ** | 2378.43 *** |
| 2374.09 | Support* | 2372.84 * | 2371.92 ** | 2369.75 *** |
Weekly forecast：
