GBP/USD is trading at 1.3204, 0.34% up since previous day close. Previous to the release of the UK CPI statistics, the pair was trading at about 1.3160. The Fed’s policy decisions come into focus. The USD was negatively impacted by the strengthening risk appetite and rising expectations for a significant cut in the Federal Reserve rate today. If the pair pushes higher in the near term, the RSI touches 62, indicating that it may have overbought. The closest resistance on the upside is 1.3238.

GER30 is trading at 18707, 0.07% down since previous day close. Wednesday saw a little decline in European equities as speculators remained neutral ahead of the US Federal Reserve’s crucial interest rate announcement. Technology stocks saw a 0.7% decline, which also hurt the markets. The previous day’s candle formed a long-legged doji, which suggests a trend reversal or could move in a rangebound manner, according to the daily chart analysis. The nearest resistance is 18812, and the closest support is 18596.

XAU/USD is trading at 2568, 0.03% down since previous day close. At the beginning of the week, gold reached a record high of 2,589 due to a substantial increase in market expectations that the Fed would slash interest rates by 0.50% twice at its meeting later today. Gold would benefit with a larger rate cut from the Fed since it would reduce the opportunity cost of keeping the yellow metal. According to the daily chart, an opening gap downward indicates a bearish trend. 2510 is the nearest support.