If you only check the charts once today, make it now.

Friday, June 12 is loaded: US/“Iran peace headlines are moving gold, the ECB has just hiked rates for the first time since 2023, and May CPI lands ahead of next week's Federal Reserve meeting — the first under new Chairman Kevin Warsh.

Here's the Pipsoclock breakdown of the three pairs our community trades most, with the exact levels our analysts are watching.

XAUUSD Analysis Today: Gold Steadies Near $4,200

Gold rebounded more than 3% on Thursday and is holding near **$4,200** this morning.

The driver is unusual. Progress toward a US–Iran peace deal normally hurts gold by reducing safe-haven demand. But it also calms oil-driven inflation fears, which softens the case for rate hikes — and lower rate expectations support gold. The two forces are offsetting each other, which is why price is consolidating instead of trending.

**Levels to Watch:**

- Support: $4,074-$4,112 zone

- Resistance: $4,319

- Expected Intraday Range: roughly $4,060-“$4,160

**Pipsoclock Bias:** Neutral until CPI prints. Range traders have the edge today; breakout traders should wait for the data.

GBPUSD Support and Resistance: Cable Caught in a Tug-of-War

The pound has support from monetary policy — markets are pricing nearly two more Bank of England hikes by the end of 2026 — but UK politics is muddying the picture after Andy Burnham announced a leadership run.

Technicals lean bearish. Moving averages flash a strong sell, and the weekly outlook treats rallies into resistance as selling opportunities.

**Levels to watch:**

- Resistance: 1.3435, then the 1.3600 handle

- Support: 1.3390

**Pipsoclock Bias:** Neutral-to-bearish below 1.3600. Sell rallies into resistance with tight risk; flip the bias only on a clean break and hold above 1.3600.

EURUSD Forecast After the ECB Rate Hike

This is the week's biggest story. The ECB raised its deposit rate to **2.25%** — its first hike since 2023 — and money markets now price roughly 70 basis points of total tightening by year-end.

The euro trades around **1.154–1.156**, recovering from two-month lows as Middle East tensions ease.

What matters now is communication. If President Lagarde signals another hike in July or September, European rate expectations rise and EURUSD has fuel toward 1.1600 and beyond.

**Levels to watch:**

- Support: 1.1500 — the line in the sand for bulls

- Resistance: 1.1600, then 1.1700

**Pipsoclock Bias:** Cautiously bullish while 1.1500 holds.

Today's Trading Theme

Central bank divergence is back. The ECB and BoE are tightening while the Fed sits on hold at 3.50–3.75% — that pressures the dollar. But US–Iran headlines can flip risk sentiment in seconds, so trade the levels, not the noise, and keep position sizes honest around the CPI release.

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*This analysis is for educational purposes only and is not financial advice. Trading forex carries significant risk.*