​FTSE 100 looks bid while GBP/USD, gold price recover

​​​FTSE 100 sideways trades with bullish bias

The FTSE 100 rise from its late June 8695 low has been followed by a rise to last week's 8839 high. This was revisited on Monday before the FTSE 100 sold off to 8761, a level it is bouncing back from on Tuesday.

A rise above Monday's and last week's highs at 8837 would likely engage the 19 June high at 8867, ahead of the June peak at 8902 and the March all-time high at 8909. Still further up lies the psychological 9000 region which represents another potential upside target.

Were a fall through Monday's low at 8761 to occur, though, the 1 July low at 8728 and the 55-day simple moving average (SMA) at 8709 may be revisited.

While the 26 June low at 8695 underpins, the medium-term uptrend remains intact.

FTSE 100 daily chart

​GBP/USD hovers around support

GBP/USD advance to its $1.3789 high, a level last seen since October 2021, has been followed by a swift sell-off to last week's $1.3563 low above which it has been hovering since.

While Monday's and last week's lows at $1.3576 to $1.3563 underpin, a recovery to Friday's high at $1.3681 may be at hand. If bettered, the $1.3800 region may be back in sight.

Immediate upside pressure should be maintained while last week's low at $1.3563 holds. If not, the April to July support line at $1.3503 may be revisited.

GBP/USD daily chart

​Gold price bounces off support 

The spot gold price recovery from its late June $3244.42 low has been followed by another up leg to last week's $3365.92 high before it dipped to Monday's $3296.28 low before regaining lost ground.

While Monday's low at $3296.28 holds, a rise above Friday's $3345.17 high is on the cards. If overcome, last week's high at $3369.92 would be back in the picture.

If overcome, the 23 June high at $3393.64 would be back in focus, together with the 5 June peak at $3403.62.

Potential slips may find support between the 55-day simple moving average (SMA) at $3322.10 and the 3 July low at $3311.63.

Failure at Monday's $3296.28 low would put the December to July uptrend line at $3274.57 back on the map.

Further potential support sits between the 29 May and 30 June lows at $3245.56 to $3244.42.

Gold daily chart