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Gold prices trading at $1676.72

Gold prices started off Thursday heading north again as the yellow metal approaching the 50-day SMA, peaking near the 1680.00 level again. However, “given the recent push and the prolonged stability above 1666.00, which was above our first target at 1663.00, we therefore think the metal could push to 1685.00 again in the near future.” writes the ICN.com Analysts.

Earlier today, Gold traded in the region of 1680.50 before ultimately easing towards a session low down near 1675. Presently, the price of gold has settled in the region of USD $1676.72, down $-0.98 Thursday. The ICN.com analysts point to supports at the 1670.00 level, onto 1666.00 and finally 1660.00. On the ascension, gold prices will encounter means of resistance at 1680.00 (February 5 high), followed by 1685.00 up to the 1695.00 region and key crossover.

Forex Flash: GBP/USD lack of rebound worries - Commerzbank

Commerzbank analysts are worried with the lack of rebound seen on the chart, as the GBP/USD still sits on the 1.5632 2009-2013 uptrend: “We note that the daily RSI has not confirmed the new low and would expect this to hold the initial test, but longer term, we in fact favor a break below here to 1.5271/35, the 2012 low”, wrote analyst Karen Jones, viewing the trendline as exposed, and pointing to intraday rallies to struggle at 1.5790 and cap at 1.5879/83, the 200 day ma.
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