Cable was hit hard recently, and decline may not be over yet within wave C/3 as current price move above 1.2750 seems slow so it can be a fourth wave that may find some new seller at around 1.2837. Only above 1.2950 we may say that bulls are back!

GBP/USD, 1h

As we can see on the hourly chart below, gold turned nicely away from trendline support this week; we have 5 sub-waves up from 1196 as well now, so may stay in control based on this 1h structure; but after short-term setback.

GOLD, 1h