Market Analysis
XAUUSD weekly: gold retreats 103 pips to 4436.63, 2026-06-01
Gold opened the week at 4539.41 and closed at 4436.63, shedding 103 pips as risk appetite improved.
2 min leesCable opened the week at 1.34504 on Monday and closed at 1.3424 on Friday, shedding 264 pips or 0.20%. The pair printed a weekly high of 1.34812 on Tuesday before reversing lower. Friday's low at 1.34157 marked the weakest level since the 1.34094 test on Wednesday.
Dollar strength dominated the narrative this week. The greenback reversed its earlier declines against major pairs on Thursday, with GBPUSD falling from Tuesday's 1.34812 peak to test the 1.34094 level by Wednesday. South Korean markets provided a risk-off catalyst on Thursday, with the KOSPI dropping sharply and the won hitting a 17-year low against the dollar.
The PBOC's stronger yuan fixing reinforced the dollar bid, keeping pressure on sterling through the week's close.
No high-impact events are scheduled for the coming week according to the data bundle. This leaves GBPUSD vulnerable to broader dollar flows and any surprise headlines. Without scheduled catalysts, price action will likely respect technical levels.
LHFX client sentiment shows a balanced market with 50.3% of positions long and 49.7% short. This near-even split suggests traders are waiting for clearer direction. When positioning is this tight, the first breakout often triggers stop losses on the wrong side, amplifying the move.
The 1.34094 Wednesday low becomes immediate support. If that breaks, the psychological 1.3400 handle is the next obvious target. Resistance sits at the 1.34812 Tuesday high, then the 1.34504 weekly open. A close above 1.34504 would negate this week's bearish tone.
Byline: LHFX Research
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RISIKAWAARSKUWING
Margehandel in buitelandse valuta, virtuele bates of ander buite-beurs-produkte op marge dra 'n hoë vlak van risiko en is moontlik nie vir almal geskik nie. Ons adviseer u om noukeurig te oorweeg of handel vir u gepas is in die lig van u persoonlike omstandighede.
CFD's is komplekse instrumente en dra 'n hoë risiko van geldverlies as gevolg van hefboom. Oorweeg of u verstaan hoe CFD's werk en of u die hoë risiko van geldverlies kan bekostig.
Belasting mag betaalbaar wees op enige winste en u behoort onafhanklike advies oor u belastingposisie in te win.