GBP/USD and AUD/USD eye gains as US equity rally broadens beyond tech

GBP/USD has advanced 0.25% to 1.2740 while AUD/USD climbed 0.35% to 0.6680 as risk sentiment improves with US equities extending their record run. The S&P 500 futures indicate a 0.3% opening gain, with market breadth improving as gains spread beyond technology stocks to financials and industrials. Sterling strength reflects ongoing UK economic resilience and Bank of England hawkish positioning, while the Australian dollar benefits from improved risk appetite and steady commodity prices. Gold remains supported near $2,350/oz, providing additional tailwind for AUD. Technical analysis shows GBP/USD targeting 1.2800 resistance with support at 1.2700, while AUD/USD faces resistance at 0.6720 with support at 0.6650. The broader equity rally suggests continued dollar weakness unless upcoming US data significantly exceeds expectations, potentially pushing both pairs toward their respective June highs.