GBP/USD, Gold Technicals: February 13, 2017

GBP/USD – Sterling/dollar could push higher this week following pin bar signal

Following the bullish pin bar / buy signal which formed last week and that we discussed in our February 7 commentary, the GBP/USD moved slightly higher. Our view hasn’t changed; we can still look to be buyers whilst prices are above key support at 1.2400. However, a decisive close under 1.2400 – 1.2350 would open the door for more downside movement in this pair.


Gold – Gold could test $1300.00 in the coming weeks

Recently, gold prices have found a nice bottom again at $1180 area. Notice price pushed above 1220.00 resistance last week, a level we mentioned in the weekly commentary recently. Prices should remain buoyant and we could see further upside into $1250.00 this week and potentially $1300.00 in coming weeks. The market looks to have enough momentum to trade $50 to $100 higher in a short space of time towards $1300. Whilst above recent lows $1180.00, traders can look to buy weakness if and where possible this week.

Daily Gold

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