Gold priced in GBP£ is nearing all time highs as the British pound continues to see bearish sentiment.
Will we See gold break all time highs and hit £1200 per ounce??
we are currently seeing some consolidation as the market decides on what to do next, we may see a pullback towards our Fibonacci support and previous resistance area before a move higher.
Great setup broke 1000 level impulsively now we are forming a bull flag. I will look for a better entry at the bottom of the flag and I will look for a stoploss under the £1000 level. This is of course in correlation to XAUUSD which is pulling back too support will be looking for a long there too.
Gold priced in British Pounds has made a tentative break today.
This is not necessarily a Gold trade, but a warning that the British Pound is weak, and a further breakdown is imminent. Gold is caught in a bullish Dollar's crossfire, but Gold relative to GBP is telling is that a substantial currency move may be coming.
The GBPUSD has been grinding support for...
This is an interesting chart. Gold priced in Pounds was rejected at the Hypotenuse resistance of a descending triangle, reflecting a bounce in the Pound.
This is a bearish formation and indicates either a) incoming extreme Gold weakness, or b) a period of possible GBP strength.
Since the fundamentals favor the Dollar, I am prepared to bet against its...
Bullish longer term, waiting on confirmation from the charts to follow on from events in the political spectrum.
If you are a British citizen, you can buy gold (and silver) sovereign coins that are exempt from capital gains tax . With this amount of volatility, there is No need for margin/leverage trading.
"Capital Gains Tax is exempt on all British legal...