Technical analysis of the FTSE 10, GBP/USD as they range trade above support while the gold price drops like a stone.
DailyFX Real Time News 2026-09-28 08:35:38
Context: The FTSE 100, GBP/USD, and gold prices are being closely watched by investors amid various market and economic developments. The FTSE 100 is currently range-trading above its support levels, while GBP/USD is hovering above minor support, and gold prices have dropped significantly. These market movements are influenced by factors such as oil price rebounds, Asian equities coming under pressure, and expectations of higher-for-longer Federal Reserve policy.
Key Facts
- The FTSE 100 continues to trade sideways above its March-to-September uptrend line at 10,647 and last week's low at 10,664, with a possible upside target of 10,832.
- Gold prices fell 2.2% to $4,192 an ounce, down more than 4% this month, as rising bond yields and inflation concerns increased the opportunity cost of holding the non-yielding metal.
- The dollar index advanced to 101.39, leaving the euro at $1.1383 and sterling near a three-month low of $1.3240, following upbeat US economic figures.
- Brent crude jumped 2.7% to $107.16 a barrel after President Trump rejected Iran’s proposal to reopen the Strait of Hormuz, taking monthly gains to almost 18%.