FTSE 100 sidelined while GBP/USD, gold price rise amid tariff uncertainty

​​​FTSE 100 trades in near 3-month highs 

​The FTSE 100 remains sidelined below its May high at 8,823 and last week's 8,695 low. Further low volatility range trading seems to be at hand. 

​A rise above last week's 8,823 high would likely engage the February peak at 8,835 and the March all-time high at 8,909. 

​A slip through Thursday's 8,695 low would eye the 6 May high at 8,684 ahead of the 23 May low at 8,602.   

​Immediate support can be spotted at Friday's 8,724 low. 

​GBP/USD resumes its ascent 

​GBP/USD's recent short-term consolidation phase may have ended at last week's $1.3416 low with the May peak at $1.3593 remaining in sight while this support level underpins. 

​Below it the April-to-May uptrend line at $1.3407 may offer potential support, together with the 6 May high at $1.3403

​Gold price heads back up again

The spot gold price has been range trading these past few days but is seen recovering from last week's low at $3,246.00 per troy ounce low towards its 23 May high at $3,366.00 which remains in focus while last week's low holds.

For a bullish reversal to be confirmed, the $3,246 high will need to be exceeded on a daily chart closing basis. In this case the early May peak at $3,435.00 would be next in line, followed by the April record high at $3,500.00.

A currently unexpected bearish reversal and fall through the $3,246.00 recent low may put the 55-day simple moving average (SMA) at $3,216.00 and the 1 May low at $3,202.00 back on the cards.

Only a fall through the $3,216.00-to-$3,202.00 support zone would put the early April high at $3,167.00 back on the map, ahead of the May low at $3,121.00. While it holds, the medium-term uptrend stays intact.​​