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Daily Market Outlook
Professional morning briefing covering key market themes, technical levels and trade bias across major forex pairs, gold and indices — published every trading day by Zeeshan Ali.
📊EUR/USD · GBP/USD · XAU/USD
🕐Published 7:00 AM PKT daily
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Wednesday, 14 May 2026
Wednesday, 14 May 2026 · 7:00 AM PKT
TODAY
EUR/USD tests 1.0850 resistance — GBP holds key support — Gold consolidates ahead of US CPI
Good morning traders. Markets are relatively calm ahead of today’s US CPI data release at 12:30 PM GMT which is the key risk event of the week. The dollar has been under modest pressure overnight as risk sentiment improved slightly. Here is your morning briefing across major pairs.
EUR/USD
▲ Bullish bias
Key level: 1.0850 resistance
GBP/USD
→ Neutral
Key level: 1.2580 support
XAU/USD
▲ Bullish bias
Key level: $2,340 resistance
USD/JPY
▼ Bearish bias
Key level: 154.00 support
WTI Oil
→ Neutral
Key level: $79.80 resistance
USD/PKR
→ Stable
Current: 278.45
EUR/USD Analysis: Price is currently testing the 1.0850 resistance zone which has been a key level since early April. The 4H structure remains bullish above 1.0780 but we need a clean break and close above 1.0850 to confirm continuation higher. Watch for a potential pullback to 1.0810-1.0820 as a buying opportunity if the level holds as support after any retest. Key risk today is the US CPI print — a softer reading would support further EUR/USD upside toward 1.0900-1.0920. A hot CPI would likely push price back toward 1.0750 support.
GBP/USD Analysis: Sterling remains under mild pressure following last week’s disappointing UK CPI data but has held above the 1.2580 key support level. The bias is neutral to slightly bullish above 1.2580. A break below this level opens the door to 1.2500. Watch the US CPI closely — this will be the primary driver today. Resistance is at 1.2650 and 1.2700.
Gold Analysis: XAU/USD continues to consolidate in the $2,310-$2,340 range. The broader trend remains bullish and any pullbacks toward $2,290-$2,300 continue to offer buying opportunities. A break above $2,340 targets $2,360 and potentially new all-time highs. Safe haven demand remains elevated on geopolitical uncertainty.
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