BTC/USD, GBP/USD, XAU/USD (Gold), XAG/USD (Silver): Technical Outlook, Edition #31 (24/06/21)

GBP/USD, BTC/USD, XAU/USD, XAG/USD - We've prepared a technical forecast-packed One-month Special Edition of the Technical Outlook! Let's prepare for the upcoming BoE announcement.

Our team at Qluster Research is super grateful to all our fantastic readers for supporting us through our first month! We're excited to deliver more quality market content, hot off the press each day 

Now, let's get into today's one-month special edition...


Market sentiment remains jaded following last week’s taper tantrum, sparked by a hawkish turn in US Fed expectations revealed during the scheduled FOMC

Volatility has cooled off, and we begin to see glimmering signs of resurfacing risk appetite as participants re-evaluate their forecasts and exposures.

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Before looking at the charts, it is essential to note that the Bank of England (BoE) will be announcing their expectations tonight (21:00 AEST) and will likely follow a similar tone to the Federal Reserve. 

If this occurs, the Pound sterling ($GBP) will see some upside momentum as the BoE steps through the taper talk window with revised interest rate adjustments.

Q's Trading Idea: GBP/USD 

Mapped below using the M30 GBP/USD chart, the pair's performance depends entirely on the outcome of tonight's announcement. 

Pound sterling, GBP/USD - 30 Minute (M30)

Q's Trading Idea: Bitcoin, Gold, and Silver 

Following on from Technical Outlook Edition #30 (23/06/2021), let's extend this research and see our forecasts for the assets below:

Bitcoin, BTC/USD - 4 Hour (H4)

Gold, XAU/USD - 4 Hour (H4)

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Silver, XAG/USD - 4 Hour (H4)

Q's Conclusion

Commodities, cryptocurrency, and some risk-on currencies all look to be possibly gearing up for a bullish reversal. 

Remain vigilant for bullish re-tests and monitor how the markets react to the upcoming BoE meeting later tonight.

See you again for the next update.

- q

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