Ethereum Leads Crypto Bounce Amid Weak Gold Prices

The British pound (GBPUSD) is in focus as gold remains weak and cryptocurrencies see a bounce led by Ethereum, according to analysis from Kim Cramer Larsson of KCL Consult.

Cramer Larsson predicts that GBPUSD will be bullish towards 1.3650, while EURGBP may experience a sell-off to 0.84. Meanwhile, the uptrend in USDJPY is pausing, and EURJPY and AUDJPY are testing resistance levels.

The analysis also suggests that GBPJPY has a strong uptrend, while USDCAD is facing a decision point at 1.3950 or a bounce. Additionally, USDCHF is approaching a resistance level, and the USD Index may be in for a correction.

Gold and silver continue to decline, with US 10-year Treasury yields reaching 4.62% and serving as a resistance level. Ethereum (ETH) is leading the crypto market's bounce, which could have implications for other cryptocurrencies.