Today Technical Analysis: Gold Fails to Sustain $4,400 Level as US Dollar Stabilizes

Brent Technical Analysis

Brent is currently trading at $91.77, showing a strong short-term bullish structure on the 1-hour timeframe. Price action is currently consolidating near the 5-period moving average and the 10-period moving average, both of which remain sloped upward above the 20-period moving average. Key resistance is located at the recent high of $92.35, followed by $92.87, while dynamic support sits at $90.98, followed by $89.55 and the major swing low at $86.75. A sustained breakout above $92.35 signals continuation toward the $92.85 area, whereas a dip below $90.98 would indicate a deeper pullback or pause in the trend.

Brent 1H Chart

Source: STARTRADER app | Oil prices jump 2.5% after a vessel is attacked in the Strait of Hormuz

Gold Technical Analysis

Gold is currently trading at $4,390, reflecting a short-term pullback following a strong rally. The price now sits beneath the moving averages MA5, MA10 and the MA20, with the short-term averages curving downward to confirm immediate bearish momentum. Key resistance rests between $4,403 and $4,408, followed by $4,421 and the major high at $4,449. Immediate support is at $4,380, with deeper downside support levels at $4,339 and the key swing low at $4,311. As long as price stays suppressed beneath $4,408, tests of lower support levels remain likely, whereas reclaiming $4,410 would restore the broader bullish structure.

Gold 1H Chart

Source: STARTRADER app | Gold faces resistance at the $4,400 psychological level

GBPUSD Technical Analysis

GBPUSD is currently trading at 1.3525, entering a corrective pullback after peaking at a high of 1.3570. Short-term momentum has shifted to the downside as both the moving average MA5 and MA10 have crossed below the MA20. Immediate resistance is established at 1.3542, followed by 1.3550 and the recent peak at 1.3570. On the downside, key support levels to monitor are 1.3522, followed by 1.3493 and the major swing low at 1.3473. The short-term outlook remains bearish to corrective while price trades beneath 1.3542, with buyers needing to reclaim 1.3545 to resume the previous upward trajectory.

GBPUSD 1H Chart

Source: STARTRADER app | The British Pound falls against the US dollar following weak employment numbers

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