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ForexMediumUpdated•Originally published 14 April 2026•Updated 16 April 2026•

1 min read

Orbex Technical Analysis: EUR/USD Breaks Resistance as Gold Retraces to Key Support

Two central bankers, Christine Lagarde and Thomas Jordan, with EU and Swiss flags, Euro and Swiss Franc symbols, and coins.

Key Facts

1Gold reached the target zone of 4820-60 before dropping toward the 4700 support level.

about 2 months ago

Version History

Version 1about 2 months ago

What changed: Updated technical targets for EUR and GBP following resistance breaks, incorporating new geopolitical drivers related to potential US-Iran talks.

The latest technical update from Orbex highlights a bullish extension for major currencies as the US dollar grinds lower amid shifting geopolitical sentiment. EUR/USD is now eyeing extended resistance levels between 1.1920-60, supported by a solid base above 1.1600. Similarly, GBP/USD has successfully cleared the 1.3485 resistance, shifting its focus toward new upside targets at 1.3580 and the 1.3710-35 range. This broad USD weakness follows signals from Donald Trump regarding a willingness to resume talks with Iran, prompting investors to re-evaluate Middle East risks. While Gold continues its short-term retracement toward the 4700 support level, its long-term trajectory remains positive. Meanwhile, USD/JPY traders are monitoring key support zones as the Greenback faces pressure from the latest diplomatic developments.