Technical analysis of the Dow, GBP/USD and US natural gas futures.
DailyFX Real Time News 2026-07-02 10:39:53
Context: The Dow Jones Industrial Average has reached a record high, while GBP/USD has seen a recovery and US natural gas futures have consolidated. Market analysts are providing technical analysis of these trends, noting potential support and resistance levels. The market movements are being influenced by various factors, including US jobs data and global economic trends.
Key Facts
- The Dow Jones Industrial Average made a record high at 52,748, with potential support levels between 51,665 and 51,620, and a short-term uptrend that is intact while above the 23 June low of 51,307.
- GBP/USD's rally from its late June low of $1.3140 is gaining momentum, with the May-to-July downtrend line at $1.3358 being a key focus, and a break through this level potentially leading to a rise above the 200-day simple moving average at $1.3397.
- US natural gas futures have consolidated after topping out at 319.4 last week, with the April-to-July uptrend line at 302.9 being tested, and a potential slide towards the mid-June low at 286.2 if this level is broken.
- The dollar index edged 0.1% lower to 101.32 ahead of the release of US non-farm payrolls, while the yen remained close to a 40-year low at ¥162.84 per dollar amid speculation of Japanese authority intervention.
- Gold recovered 0.7% to $4,059 an ounce, clawing back some of the losses suffered during the previous quarter, when prices fell 14%.