FTSE 100 trades in 2-month high, GBP/USD rallies while gold price sidelined

​​​FTSE 100 trades in 2-month high 

​The FTSE 100 has risen for three consecutive days and is currently flirting with its 8,742 late March high. This may short-term cap. If not, the mid-February high at 8,787 would be next in line, followed by the February peak at 8,835 and the March all-time high at 8,909. 

​These levels remain in focus while no fall through the 8 May low at 8,513 is seen.  

​Immediate support can be spotted at the 8,684 early May high and at the 8,641 12 May high ahead of Monday's 8,612 low.

​GBP/USD rallies 

GBP/USD's break through its April-to-May downtrend line at $1.3327, now because of inverse polarity support line, and rise above its 14 May high at $1.3360 is short-term bullish and targets Monday's high at $1.3404, followed by the $1.3444 April peak and above. 

​Good support below the breached downtrend line is seen in the $1.3300 region and then at Friday's $1.3251 low and the 23 April low at $1.3234. While these levels underpin, bullish momentum should prevail. 

​Gold price stays sidelined 

​The spot gold price has been range trading in low volatility these past few days and trades close to minor support seen at the 1 May low at $3,202.00 per troy ounce. 

While the $3,208.00-to-$3,202.00 support zone underpins on a daily chart closing basis, a rise towards the $3,300.00 area may unfold. 

​For a bullish reversal to take shape, Friday's high at $3,252.00 would need to be exceeded on a daily chart closing basis.   

​A fall through the $3,208.00-to-$3,202.00 support zone would put the early April high at $3,167.00 back on the map, ahead of the 55-day simple moving average (SMA) at $3,151.00 and last week's low at $3,121.​​00.