FTSE 100, GBP/USD rally while gold price drops on ceasefire hopes

​​​FTSE 100 resumes ascent

​The FTSE 100's recent decline from its near 3 1/2 month high at 8,902 amid the Israel-Iran conflict has taken it to Monday's 3-week low at 8,720 before recovering.

​The late May high at 8,824 is thus back in sight, ahead of the 19 June high at 8,867. If overcome, the mid-June 8,902 high and also the March all-time high at 8,909 would be back in the frame. Still further up lies the psychological 9,000 region which represents another potential upside target.

​Minor support below Monday's 8,720 low is found around the 6 May high at 8,684 ahead of the 23 May low at 8,601. While this level underpins on a daily chart closing basis, the medium-term uptrend remains intact.

​GBP/USD surges higher

​GBP/USD is swiftly heading back up again and rapidly nears its mid-June high at $1.3632 whilst targeting the February 2022 peak at $1.3640.

​A currently unexpected slip may find support in the $1.3517-to-$1.3508 region.

​Were this area to give way, though, the 10 June low at $1.3457 and the more significant support area between the late April highs and late May low at $1.3444-to-$1.3416 may be revisited.

​Gold price is heading back down for now

​The gold price's decline from its mid-June $3,451.50 per troy ounce near 3-month high has so far taken it close to its 55-day simple moving average (SMA) at $3,306.00 and its 9 June low at $3,293.50. This area may offer support.

​Provided that the $3,293.50 low level holds on a daily chart closing basis, the medium-term uptrend is deemed to stay intact.

​Failure at $3,293.50 would likely push the 29 May low at $3,245.50 to the fore ahead of the December-to-June uptrend line at $3,242.00.

​While no rise above Monday's high at $3,393.50 is seen, downside pressure should retain the upper hand. Above it lies the 5 June high at $3,403.50​.

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