Gold price forecast update 31-01-2025 – Economies.com

Gold price settles above 2790.00$ level, to keep the bullish trend scenario active for today, reminding you that our next station is located at 2808.20$, which breaching it represents the key to head towards 2850.00$ as a next main target.

The EMA50 supports the suggested bullish wave, which will remain valid unless breaking 2790.00$ and holding below it.

The expected trading range for today is between 2780.00$ support and 2820.00$ resistance.

Trend forecast: Bullish

The GBPUSD forecast update 31-01-2025

The GBPUSD price didn’t show any strong move since morning, thus, we will continue with our neutrality until the price confirms breaking 1.2380$ support or breaching 1.2490$ resistance to confirm the next destination clearly.

We remind you that breaching the mentioned resistance will push the price to visit the next correctional level at 1.2609$, while breaking the support represents the key to return to the main bearish track and achieve negative targets that start at 1.2240$ and extend to 1.2100$.

The expected trading range for today is between 1.2340$ support and 1.2510$ resistance

Trend forecast: Neutral

The EURUSD price forecast update – 31-01-2025

The EURUSD price fluctuates at the neckline of the head and shoulders’ pattern, waiting to break this level to confirm rallying towards 1.0325$ followed by 1.0220$ levels that represent our next negative targets.

The EMA50 presses negatively on the price to support the expectations to decline, which will remain valid unless breaching 1.0455$ level.

The expected trading range for today is between 1.0300$ support and 1.0455$ resistance

Trend forecast: Bearish

The EURGBP tests the support – Forecast today – 31-1-2025

The EURGBP price formed some correctional negative waves recently, achieving the target mentioned in our previous report by reaching 0.8355 to test the major support line that appears on the chart.

Now, stochastic exit from the oversold areas will motivate the price to form bullish waves to expect targeting 0.8400 followed by 0.8435 levels soon, while breaking the current support will confirm postponing the positivity to force the price to suffer additional losses by crawling towards 0.8345 before any attempt to achieve the previously mentioned gains.

The expected trading range for today is between 0.8350 and 0.8400

Trend forecast: Bullish